Zimbabwe Gold (ZiG), the new currency launched by the Zimbabwe Reserve Bank (ZRB), has performed well in the foreign exchange market but is facing difficulties in the country. The ZRB has taken new measures to combat black market trading and called on the public through its X-Account to report illegal traders and businesses that refuse to accept ZiG.

Since ZiG was launched in physical form, it has gained 1.9% against the dollar.On May 15, police arrested 224 illegal foreign exchange traders, and the RBZ Financial Intelligence Unit (FIU) froze 90 bank accounts and monitored banking activities to detect illegal transactions.

The crackdown has resulted in a significant reduction in the number of illegal money changers in Harare CBD and surrounding areas. However, coin shortages continue to plague the central bank and the RBZ plans to increase the supply of small change. Zimbabwe's Homelink Financial Services will offer ZiG debit card withdrawals in seven cities from June 10, with other financial institutions to join in the future.