Zimbabwe is seeking to expand the use of its gold-backed Zimbabwe Gold (ZiG) currency and gradually reduce dependence on the US dollar, but years of monetary instability have undermined public confidence. Introduced in April 2024, the ZiG is backed by foreign currency and precious metal reserves. As of September, annual ZiG inflation stood at 3.7%. Yet many citizens remain reluctant to save in local currency after previous crises destroyed their earnings and pensions. Retailers also report that they receive limited customer payments in ZiG. The central bank is pursuing a gradual, market-led transition, but lasting success will require sustained stability and greater confidence in the currency’s purchasing power.