...Zimbabwe - 2024 Zimbabwe Gold Series (ZiG)

Republic of Zimbabwe

Reserve Bank of Zimbabwe (est.1956)

(The King of Funny Money)

Currency : Zimbabwe Gold (ZWG)

 

This is a new series of banknotes called Zimbabwe Gold (ZiG), launched on 05.04.2024. This new series replaced the Zimbabwe dollar which was last introduced in 2019. The 2019 Dollar series was phased out on 26.04.2024. The new ZiG notes were reportedly released on 08.04.2024.

 

This new series should have the exchange rate of USD 1 = ZiG13.56. It is not sure if this is still the case since it was released last year. This new structured currency is backed by gold, the Zimbabwe Gold and other precious metals. There are eight notes in this series, with denominations of 1, 2, 5, 10, 20, 50, 100 and 200 ZiG. Zimbabwe currently has a multi-currency system and the majority of the country's transactions are done with the US dollar, and this multi-currency system will remain until 2030. 

 

The purpose of introducing a new currency was due to the continuing depreciation of the Zimbabwe dollar which had an exchange rate of between 30,000 to 40,000 Zimbabwe dollars to one USD. The government is also hoping that the new ZiG currency will become a stabilised currency and thus reduce the dependence of the US dollar.

The design on all the notes are the same albeit different colours. I cannot say that the designs for the notes for this series are sophisticated but it does have the basic security features, like see-through perfect register, security thread and watermark. The note is also printed with a QR code. In addition to the new banknotes series, the central bank also released two coins with the value of quarter and half ZiG. The ZiG currency does not have a subdivision, like Dollar and cent.

 

Ten ZiG

 

Governor - Dr John Mushayavanhu (since March 2024)

Watermark - Zimbabwe bird

Dimensions - 150mm x 66mm

Front - The famous Zimbabwean Domboramari or the Money Rock. This is a formation of three boulders that form part of the Chiremba Balancing Rocks, located in the northwestern part of Epworth. A see-through perfect register in the design of a Bateleur Eagle over a five-point star is printed on the top left corner. To the lower bottom right is a QR code.

Back - Gold smelting, with liquid 'white' gold being poured into a gold tray, which is resting on top of presumably twelve gold ingots. I am not sure why the bank did not show the gold in yellowish-orange colour instead in white. White gold has a mixture of other metals such as palladium, nickel or zinc to create a white colour. Obviously white gold is less purer than normal gold.

 

Twenty ZiG

Watermark - Zimbabwe bird

Dimensions - 156mm x 66mm