Zimbabwe Gold (ZWG)
The Zimbabwe Gold (ZiG) launched in April 2024, replacing the Zimbabwean dollar after decades of currency turmoil. Zimbabwe made global headlines in 2008-2009 when hyperinflation forced the central bank to print 100-trillion-dollar banknotes before abandoning the currency entirely in favor of a multi-currency system built around the US dollar and South African rand. The ZiG is the latest attempt to restore a credible, locally issued currency.
ZWG ⇄ USD Converter
History
Zimbabwe's original dollar suffered one of the worst hyperinflations in modern history, peaking in 2008 when the central bank issued a 100-trillion-dollar note that was still barely enough for basic goods. The country abandoned its currency in 2009 for a multi-currency system dominated by the US dollar. A local currency (the RTGS dollar) was reintroduced in 2019 but also struggled with rapid depreciation and inflation. In April 2024, the Reserve Bank of Zimbabwe launched the Zimbabwe Gold (ZiG), a new currency structurally backed by a basket of gold and foreign currency reserves, aiming to break the cycle of runaway inflation that had undermined every prior attempt at a Zimbabwean currency.
Denominations
Zimbabwe Gold banknotes and coins introduced since 2024 include these denominations:
- 1, 2, 5, 10 ZiG — smaller-value notes and coins
- 20, 50, 100, 200 ZiG — higher-value notes
The US dollar continues to circulate widely alongside the ZiG in everyday transactions across Zimbabwe.
Frequently Asked Questions
What is the currency symbol for the ZiG?
It's written as ZiG. Its ISO 4217 currency code is ZWG.
Why did Zimbabwe launch a new currency in 2024?
The ZiG replaced the RTGS dollar, which — like Zimbabwe's original currency before it — had lost significant value to inflation. The ZiG is structurally backed by gold and foreign currency reserves in an effort to provide more stability.
Can I still use US dollars in Zimbabwe?
Yes, the US dollar continues to circulate widely alongside the ZiG, and many prices are still quoted in both currencies.
Where can I see rates for other African currencies?
Check the full currency directory on the African Currencies homepage, which covers all 54 African countries.