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Zimbabwe Gold (ZiG) will be issued in the form of banknotes and coins, Russian media reported, citing the head of the country’s Reserve Bank.

All reserves of the Zimbabwean dollar will be transferred to the new currency, backed by reserves of foreign currency and precious metals mined in the country, said John Mushayavanu.

The ZiG’s exchange rate will be 13.5 Zimbabwean gold per US dollar, he said.

🟠The new currency is called Zimbabwe Gold (ZiG) and is “fully anchored and fully backed” by precious metals (mainly gold) and foreign currency;

🟠It will completely replace the current Zimbabwe dollar;

🟠The country’s citizens now have three weeks to exchange their old cash for new;

🟠There are eight denominations of the new banknotes, ranging from 1 to 200 ZiG;

🟠The minting of gold bullion, as well as the Balancing Rocks, a famous Zimbabwean landmark, are depicted on on the banknotes.