The Reserve Bank of Zimbabwe (RBZ) says the Zimbabwe Gold (ZiG) currency code will be changed to ZWG following approval by the International Standards Organisation (ISO) to serialise the new currency.
The Reserve Bank of Zimbabwe says the Zimbabwe Gold currency code will be changed to ZWG following approval by the International Standards Organisation to serialise the new currency.
Since the inception of the new currency, the exchange rates have remained stable at a premium of ZiG 13,56:US$1 on the back of a relatively stable parallel market rate. Last month, the RBZ told the Zimbabwe Economic Society that the certification will go a long way in enhancing the confidence matrix and demonstrating the bank's commitment to enact a sustainable currency.
"It should also be noted that the minor units of the Zimbabwe Gold shall be denominated as cents. The Codes ZWL and ZWG will run concurrently from the 25th of June to the 31st of August 2024 to allow necessary system configurations by players.
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