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Zimbabwe Releases New Currency

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Zimbabwe has introduced new banknotes and coins as all banks have received the local currency from the Central Bank for nationwide distribution.

The highest denomination of the new currency, known as Zimbabwe Gold or Zig, will be the 200 Zig Note, valued at approximately $15.

In accordance with directives from Authorities, individuals will be permitted to withdraw up to Zig 3,000 per week, while companies can withdraw up to Zig 30,000.

This marks the third currency to be introduced in Zimbabwe within the past decade.

The Zig is backed by Gold and Foreign Currency Reserves, a measure aimed at safeguarding its value, according to statements from the Central Bank.

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