This is because cash and mineral reserves backing the new
currency, Zimbabwe Gold (ZiG), have risen from US$285 million to approximately
US$370 million over the past three months.
Dr Mushayavanhu told The Sunday Mail :“As such, the Reserve
Bank has been accumulating reserves from royalties of gold and conversion of
in-kind royalties of other precious minerals such as diamonds, lithium and
platinum to gold reserves.
“As a result, the total reserves have progressively
increased by about 30 percent, from US$285 million as at April 5, 2024 to above
US$370 million as at end of June 2024.
“Regarding ZiG issuances to the market, the Reserve Bank
has, so far, distributed optimal ZiG notes and coins, in line with cash orders
from banks.
“In addition, to ensure that cash reaches all the cash
hotspots, the Reserve Bank, effective June 10, 2024, introduced the swipe
facility for ZiG at Homelink (Pvt) Ltd and cash kiosks at bus termini to
increase access to cash, especially small denominations for the commuting
public.
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