RBZ Confirms ZiG Banknotes Ready for Circulation, Phased Rollout Set for Early 2026
The Reserve Bank of Zimbabwe’s confirmation that newly designed ZiG banknotes are ready for circulation signals growing confidence in the stability of the country’s latest currency framework, although authorities remain cautious about the timing and scale of the rollout.
RBZ Governor Dr John Mushayavanhu said the banknotes, which are already printed, are expected to be introduced in a phased manner beginning in the first quarter of 2026, subject to prevailing economic conditions and demand for physical cash.
The central bank has emphasised that the introduction of ZiG notes will not result in an expansion of the money supply.
Instead, commercial banks will receive physical cash in exchange for their existing electronic balances held at the RBZ, a measure aimed at preserving monetary discipline and preventing inflationary pressures.
Officials say the gradual approach is intended to allow close monitoring of price and exchange rate movements, while avoiding disruptions to financial stability.
The RBZ plans to accompany the rollout with a nationwide public awareness campaign to familiarise consumers and businesses with the new notes’ security features and durability.
The move builds on what the central bank describes as economic gains achieved in 2025, with authorities expressing confidence that the circulation of physical ZiG notes will enhance transactional convenience without undermining currency stability.
Zimbabwe’s foreign currency reserves currently stand at approximately US$1.1 billion, covering an estimated 1.2 months of imports, a position the RBZ says strengthens confidence in the ZiG.
The bank expects inflation and the exchange rate to remain broadly stable in the near term, supported by improved foreign currency management systems.
Looking ahead, the RBZ projects economic growth of about 5 percent in 2026 under the National Development Strategy 2.
Inflation is expected to continue moderating, with authorities targeting single-digit annual inflation by the first quarter of 2026 and alignment with Southern African Development Community macroeconomic benchmarks by 2029, as part of Zimbabwe’s transition toward a mono-currency system.
