The governor of the Reserve Bank of Zimbabwe (RBZ), John Mushayavanhu, has revised his earlier decision regarding the phasing out of ZWL notes, stating that they will remain legal tender until further notice.

Initially, during the presentation of the Monetary Policy Statement and the introduction of the new currency ZiG on April 5, Mushayavanhu had announced that the old ZWL notes would cease to be valid by the end of the month, allowing citizens 21 days to convert them to ZiG.

However, in a recent interview with StarFM on Thursday, Mushayavanhu indicated that the old notes would continue to circulate alongside ZiG notes for an indefinite period.

He stated, “We are currently permitting the co-circulation of the bond notes. We will inform the market when the inflow of bond notes has decreased significantly. At that point, we will announce a specific date after which bond notes will no longer be accepted. But for now, they can continue to circulate. We are keen on collecting as many ZWL notes as possible before establishing a final deadline.”

The ZWL notes will function concurrently with ZiG notes, which were introduced into circulation on Tuesday, April 30. Initially, coins and ZiG10 notes were released and have already been made available to the public.