ZIMSPHERE
HARARE – Zimbabwe’s currency code has been updated from ZWL to ZWG, effective immediately, while the currency name remains Zimbabwe Gold (ZiG).
In a statement, the Reserve Bank of Zimbabwe (RBZ) highlighted that the change aligns with international best practices. The RBZ explained that the new code, ZWG, has been approved by the World Bank ISO 4217 Committee and ensures global recognition of the currency.
"The Codes ZWL and ZWG will run concurrently till August 31, 2024, after which ZWL will cease to be recognized," the statement read.
The ISO 4217 codes are the globally acknowledged three-letter identifiers for national currencies.
These codes provide a universal standard for representing currency names worldwide, facilitating international transactions, accounting, and financial reporting by avoiding ambiguity and ensuring consistent identification across financial systems.
This update marks another change in Zimbabwe’s currency history, which has seen several transitions since 1980, including ZWD, ZWN, ZWR, ZWL, and now ZWG.
The RBZ emphasized that the currency will continue to be known as Zimbabwe Gold (ZiG), reinforcing its identity while adhering to international norms.
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