THE Reserve Bank of Zimbabwe (RBZ) has confirmed that new ZiG bank notes are ready for release, with a phased rollout planned for the first quarter of 2026.
RBZ governor John Mushayavanhu said the introduction of the new notes would be carried out through banks and other authorised channels, and would be guided by prevailing economic conditions as well as genuine demand for physical cash.
“The new ZiG notes are expected to be introduced within the first three months of 2026 and the process will be gradual and carefully aligned with economic conditions and actual cash demand,” he said.
Mushayavanhu stressed that the release of the banknotes would not result in an increase in money supply, as banks would exchange the cash for their electronic balances held at the central bank.
“This will not expand money supply because banks will obtain the cash by exchanging it for their RTGS balances at the Reserve Bank,” he said.
The central bank chief added that prices and the exchange rate were expected to remain stable in the foreseeable future, supported by improved foreign exchange management systems and strong domestic and external sector fundamentals.
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“Price and exchange rate stability is expected to continue, underpinned by enhanced foreign currency management systems and strong domestic
and external sector fundamentals,” he said.
Mushayavanhu added that the ZiG continued to be supported by rising foreign currency reserves, which stood at about US$1,1 billion, enough to cover approximately 1,2 months of imports.
“The growth in reserves provides adequate backing for the ZiG and reinforces confidence in the local currency,” he said.
During 2025, inflation remained subdued, with month-on-month ZiG inflation averaging 0,4% between February and November.
The stability has been reflected in steadier prices for basic commodities such as bread.
Exchange rate stability has also been maintained, with the ZiG trading largely between ZiG26 and ZiG27 to the United States dollar for most of the year.
The parallel market premium has narrowed significantly to below 20% from levels exceeding 40% previously.
The public has welcomed the initiative, saying the availability of physical cash will make transactions easy and support small businesses.
“Having cash will make day-to-day transactions easier, especially for transport and informal trading where electronic payments are sometimes unreliable,” said Harare commuter omnibus operator Tendai Moyo.
Small-scale trader Rudo Chikomo said the move would improve business efficiency in the informal sector.
“Cash will help us to serve customers faster and avoid delays caused by network challenges,” she said.
RBZ has reiterated its commitment to maintaining monetary discipline and safeguarding the value of the ZiG as part of broader efforts to sustain macro-economic stability.