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        New currency in Zimbabwe: A Tourist's Guide (June 2024)

        Understanding Zimbabwe's currency scene is key to a smooth and hassle-free trip. Zimbabwe beckons with its vibrant culture and breathtaking landscapes, but before you embark on your unforgettable adventure, let's iron out the details about money.


        Table Of Contents

        1. Why did Zimbabwe come up with a new currency?
        2. How do I pay for things in Zimbabwe?
        3. As a tourist, what you should take note of

        Zimbabwe's New Currency:

        In a decisive move to curb rampant inflation, the Zimbabwean government has unveiled a new national currency, the ZiG (Zimbabwe Gold), marking a significant departure from years of relying on foreign currencies and battling hyperinflation. Unlike its predecessor, the ZiG is backed by a reserve of gold and other valuable minerals like lithium and diamonds. This backing aims to instill confidence in the currency's stability and value, preventing the rapid devaluation Zimbabwe has witnessed in the past.

        Why did Zimbabwe come up with a new currency?

        Zimbabwe introduced a new currency, the ZiG (Zimbabwe Gold), in April 2024 to address several challenges with their previous currency:

        1. Hyperinflation: The Zimbabwe dollar had been plagued by hyperinflation for years, causing its value to rapidly decrease. This meant prices of goods kept rising, making it difficult for people to save or plan for the future.
        2. Loss of confidence: Due to hyperinflation, many Zimbabweans lost faith in their own currency. They preferred to use US dollars or other stable currencies for transactions.

        By creating a new gold-backed currency, the Zimbabwean government aims to:

        1. Regain trust: The ZiG is backed by gold and other precious minerals, which theoretically should give it more stability and encourage people to use it again
        2. Control inflation: The central bank hopes to manage the money supply better with the ZiG, preventing hyperinflation from happening again.

        How do I pay for things as a tourist in Zimbabwe?

        As a tourist payments can be done by:
        1. Cash (USD): US Dollars (USD) are widely accepted in Zimbabwe, especially for tourist-oriented businesses. It's best to bring a variety of denominations for smaller purchases and gratuities.
        2. Cash (South African Rand, Euro, British pound): While not as common as USD, other currences that are oftenly accepted include, South African Rand, British pound, and Euro.
        3. Credit Cards (Limited):Major credit cards like Visa and Mastercard may be accepted in larger hotels, restaurants, and some shops, but acceptance is not universal and can come with fees. Don't rely solely on credit cards.

        As a tourist, here is what you should take note of:

        1. Ask before you pay: In some shops, prices might be listed in USD or ZWL. It's always good practice to clarify which currency is accepted before finalizing your purchase.
        2. Cash is king: While the Zimbabwe Dollar (ZWL) is the official currency, US Dollars (USD) are widely accepted, especially in tourist-oriented areas. It's best to bring a variety of denominations (USD 1-20 bills and lower denominations of Rand) for smaller purchases, gratuities, and taxis as there can be a shortage of change.
        3. Credit cards are not widely accepted: Major credit cards like Visa and Mastercard may be accepted in larger hotels, restaurants, and some shops, but acceptance is not guaranteed and can come with fees. Avoid relying solely on credit cards.
        4. Carry a mix of payment options: Having a combination of USD cash, and a credit card (for emergencies) is recommended.



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