MOSCOW, April 5 The Reserve Bank of Zimbabwe has introduced a new national currency ZiG, reports local publication Pindula News.
“The head of the Reserve Bank of Zimbabwe, John Mushayavanu, announced the introduction of a new currency, ZiG (Zimbabwean gold),” the publication said.
It is noted that the new currency is provided by the country's gold and foreign exchange reserves and royalties for mining.
According to media reports, banknotes of the current Zimbabwean dollar (ZWL) from citizens will be accepted by the country's banks over the next 21 days.
One ZiG will be equal to six American cents. The new currency will be issued in coins and banknotes in denominations of 1, 2, 5, 10, 20, 100 and 200 ZiG.