About the Zimbabwe Gold
Zimbabwe Gold (ZiG) was introduced in April 2024 as the latest attempt by Zimbabwe to stabilize its currency, which has suffered from hyperinflation and multiple redenominations. ZiG is backed by gold and foreign currency reserves.
The name 'Zimbabwe Gold' reflects its backing by gold reserves, a departure from previous fiat currencies.
Interesting Facts
Backed by Gold
The Zimbabwe Gold (ZiG) is unique in that it is explicitly backed by physical gold reserves and foreign currency, a measure aimed at providing stability after decades of currency volatility.
A History of Hyperinflation
Zimbabwe has a long and painful history of hyperinflation, with its previous currencies (like the ZWL) experiencing astronomical inflation rates, leading to multiple currency changes.
The Great Zimbabwe Bird
Zimbabwean currency often features the Great Zimbabwe Bird, a national emblem and symbol of the country's rich pre-colonial history.
Historical Timeline
The first Zimbabwean Dollar is introduced after independence.
Hyperinflation leads to multiple redenominations and the eventual abandonment of the ZWL.
Multicurrency system is adopted, with the USD as the dominant currency.
Zimbabwe Gold (ZiG) is introduced.
Denominations
Banknotes
Security Features
Quick Facts
- ISO Code
- ZWG
- Symbol
- ZWG
- Subunit
- (1/)
- Introduced
- 2024-04-05
Central Bank
- Name
- Reserve Bank of Zimbabwe
- Headquarters
- Harare, Zimbabwe
- Founded
- 1956
- Current Governor
- John Mangudya (since 2014)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 5.7%
- Interest Rate
- 130.0%
Exchange Rates
What Affects the ZWG Exchange Rate?
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