RBZ Urges Businesses to Treat ZiG and US Dollar Equally

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RBZ Governor John Mushayavanhu has called on businesses to treat ZiG and US dollar payments equally.

HARARE – Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has challenged businesses to be indifferent when pricing goods and services or accepting payment in either ZiG or US dollars.

In a statement issued on Tuesday, 25 August, Mushayavanhu said annual ZiG inflation stood at 2.9 percent in August 2026, compared with domestic US dollar inflation of 3.1 percent.

He said the figures showed that prices of locally produced goods and services had been rising at broadly the same pace in both currencies since August last year.

“This entails that prices of domestic goods and services, since August 2025, have increased at relatively the same pace in both ZiG and US dollar,” Mushayavanhu said.

“Importantly, the implication is that businesses should be indifferent in terms of pricing and accepting payment in either foreign currency or ZiG.”

Mushayavanhu said the prevailing low and stable inflation environment should improve predictability and certainty for businesses, supporting planning and investment. He added that this was critical to encouraging wider use of the ZiG within Zimbabwe's multi-currency economy. The RBZ governor said the central bank was encouraged by the low single-digit inflation recorded from January through to August 2026.

According to the central bank, annual ZiG inflation remained below five percent during the first eight months of the year, averaging 4 percent. Annual inflation rose from 4.1 percent in January to 4.8 percent in April, reflecting the impact of higher domestic fuel prices following a global oil price shock linked to conflict in the Middle East. The inflation rate subsequently moderated, reaching 2.9 percent in August. Mushayavanhu said sustained price stability was essential to strengthening confidence in the ZiG and promoting its wider use alongside foreign currencies.

RBZ ZiG and US dollar