RBZ Governor presents Monetary Policy Statement

Online Reporter

Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu has this afternoon presented the 2024 Monetary Policy Statement (MPS).

The Governor said the Policy seeks to achieve a solid and stable currency.

Major takeaways from the MPS:

-Structured currency to be backed by reserves and royalties
-ZWL dollar currencies to be converted to ZiG
-ZiG to circulate alongside other currencies.

-Multi-currency system to stay until 2030 as per the law.
-All obligations to be converted to ZiG.
-All banks to accept Old notes for the next 21 days.

-ZiG notes 1, 2, 5, 10, 20, 100 200
-1 ZiG 6 US cents