Chronicle Editor
Nqobile Bhebhe,
THE Zimbabwe Gold (ZiG) has been registered as an international currency by the World Bank ISO 4217 Committee.
The development comes with the effective change of the operative codes from ZWL to ZWG effective 25 June 2024, the Reserve Bank of Zimbabwe has said.
The Codes ZWL and ZWG will run concurrently from the 25th of June to the 31 August 2024 to allow necessary system configurations, said the Reserve Bank of Zimbabwe (RBZ) in a latest public statement.
“The Reserve Bank of Zimbabwe advises that the World Bank ISO 4217 Committee has approved our request to change the Zimbabwe Currency Code from ZWL to ZWG (Zimbabwe Gold) effective 25 June 2024.
“It should also be noted that the minor units of the Zimbabwe Gold shall be denominated as ‘cents’. The Codes ZWL and ZWG will run concurrently from the 25th of June to the 31 August 2024 to allow necessary system configurations by players,” said the Central Bank.
In this regard, the ZWL currency code will cease to be recognized from the 1 of September 2024.”
Online Reporter