GOLD-BACKED - ZIG
The new currency is part of a raft of measures announced by the incoming central bank governor John Mushayavanu in his inaugural monetary policy statement in the capital Harare.
Eight Banknotes:
1 ZiG, 2 ZiG, 5 ZiG, 10 ZiG, 20 ZiG, 50 ZiG, 100 ZiG, and 200 ZiG.
The ZiG would be "fully anchored and fully backed" by a basket of reserves comprising foreign currency and precious metals -- mainly gold
Two Coins:
Quarter ZiG, Half ZiG
SIMPLICITY CERTAINTY PREDICTABILITY
The move aimed at fostering "simplicity, certainty, (and) predictability" in Zimbabwe's financial affairs, he added, presenting the new banknotes that will come in seven denominations
Zimbabwean monetary authorities have introduced a new currency replace the country's local bond note currency which is going to be phased out in the next 21 days.
Acknowledgement of Original Sources
News24, Editorial: “Zimbabwe ditches Zim dollar for new gold-backed currency called ZiG” READ HERE
SABC News, Video Clip: “Zimbabwe unveils a new currency” WATCH HERE
2024 APR 06 ZIG Currency is Backed by Tangible held in reserve of Gold and Precious Metals