RBZ reaffirms commitment to strengthening ZiG currency stability

The Reserve Bank of Zimbabwe (RBZ) has reiterated its commitment to maintaining the stability and performance of the ZiG currency, which has shown resilience since its introduction in April last year.

Speaking to ZBC News in Harare this Monday, RBZ Deputy Governor, Dr Innocent Matshe, emphasised that the central bank is actively reviewing and monitoring monetary developments to ensure the continued strength of the local currency.

Dr Matshe noted that the Bank’s policies are geared towards building public confidence and supporting economic growth, with particular focus on sustaining currency stability through sound financial governance.

“The RBZ will continue to walk the talk in strengthening the domestic currency, riding on the current trends and focusing on long-term benefits of the structured currency to continue with the stability aspirations and the de-dollarisation agenda by 2030,” he said.

The RBZ is also set to roll out more banknotes for the ZiG, with a focus on improved quality.

“So far, all the necessary paperwork has been finalised in terms of strengthening or improving the quality of the ZiG, and what we are now doing is basically focusing on the redesigning aspect to make sure that the domestic currency continues to gain traction while being modelled in line with internationally acceptable standards,” Dr Matshe said.

The domestic structured currency, which is backed by gold, precious minerals and foreign currency reserves, has continued to gain traction as the central bank data shows a rise in electronic transactions from 20 % in 2024 to over 60 % by June this year.

ZBC