How to Set Prices in ZiG and US Dollars in Zimbabwe

Many businesses in Zimbabwe quote prices in two currencies, the US dollar and the ZiG, or switch between them depending on the customer and the day. The exchange rate moves, and a price that worked last week can lose money this week. The question is how to set one price that still covers your cost, and how to show that price in both currencies.

This guide gives a practical method. Price in one base currency, convert at a published rate on a fixed schedule, add the margin you need, and reprice when the rate moves past a limit you set in advance. The worked example uses round numbers and an illustrative rate. For the live rate, check the Reserve Bank of Zimbabwe's website. As of 23 October 2026, the RBZ's interbank USD/ZWG average was 26.5775.

Know the current rules

Currency rules in Zimbabwe have changed several times, so check the latest text before you change your prices. As of October 2026, the sources I read say the following:

• The RBZ's Foreign Exchange Guidelines, version 2.0 (March 2026), say individuals may freely buy and sell goods and services in either foreign currency or local currency.
• The same guidelines describe a future move to ZiG-only domestic transactions. They say this transition is gradual and depends on conditions, not on a set date.
• The RBZ's March 2026 directive, as published by NMB Bank, sets no general rule on the currency of prices. It also describes the move to exclusive ZiG use for domestic transactions as gradual.
• The April 2025 guidelines state that the US dollar and other currencies remain legal tender until 31 December 2030, and that a move to a single currency was planned from 1 January 2031. The 2026 text makes that move conditional, so treat the 2030 and 2031 dates as the older plan.
• An analysis of Statutory Instrument 34 of 2025 says it repealed SI 81A, which had penalized businesses for pricing above the official exchange rate. That analysis is a secondary source, and I could not read the statutory instrument itself. Check its text with a lawyer before you rely on it.
• In 2020, the finance minister told parliament that businesses must display prices in both Zimbabwe dollars and US dollars. That statement concerned the earlier currency, and I did not find a current directive that repeats it.

Choose a base currency for each product

For each product, pick one base currency, usually the currency you buy the item in. If you import goods priced in US dollars, base your price on dollars, then convert to ZiG at the rate. If you buy locally in ZiG, base the price on ZiG and show the US dollar equivalent. Mixing bases for the same product is the fastest way to lose track of your margin.

Use one published rate on one set day

Pick one source and one day. The RBZ publishes its exchange rates on its website, with bid, ask and average rates, so you can record exactly what you used. Use the same day each week, or every two weeks if your costs move slowly. Write the rate and the date next to every price list you publish.

Price from replacement cost

Your price should cover what you will pay when you restock, not what you paid last time. The multi-currency price protector tool uses this formula:

• Replacement cost = today's cost × (1 + expected monthly price change) ^ (months until restock)
• Price = replacement cost ÷ (1 − target margin)

The multi-currency business guide explains the wider method, and the article on managing cash flow when prices change covers the cash side.

Worked example with round numbers

A product costs US$10 to buy. You want a 30% margin in dollars. The rate used for this example is illustrative: 25 ZiG per US dollar.

Step 1: Price in US dollars. Price = $10 ÷ (1 − 0.30) = $10 ÷ 0.70 = $14.29. Round to $14.30 for the list. Margin check: ($14.30 − $10) ÷ $14.30 = 30.1%.

Step 2: Convert at the rate. ZiG price = $14.30 × 25 = 357.50 ZWG. Round to 358 ZWG.

Step 3: The rate moves. Two weeks later the rate is 27.50 ZWG per US dollar. That is a 10% move against the ZiG (27.50 ÷ 25 = 1.10). If you keep the ZiG price at 358 ZWG, its dollar value is 358 ÷ 27.50 = $13.02. Your margin is now ($13.02 − $10) ÷ $13.02 = 23.2%, even though the product, the supplier and your costs are unchanged.

Step 4: Reprice from the base currency. New ZiG price = $14.30 × 27.50 = 393.25 ZWG, rounded to 393 ZWG. That keeps the dollar value and the 30% margin.

If the rate later falls, the same method lowers the ZiG price. Some sellers hold the ZiG price for a short time when a fall is expected, but that is a decision you make, not a rule.

Set a repricing rule in advance

Decide before the rate moves when you will reprice. For example, you might review prices every Monday, and reprice straight away if the rate moves more than 5% from the rate used on your last list. Write the rule on your price list or in your staff notes, so everyone applies it the same way.

Show both currencies to customers, with the rate and the date. A buyer who can see the rate is less likely to dispute a price, and your staff will not have to explain the change at the till.

Official rate or market rate?

Some buyers and sellers use parallel market rates. Equity Axis reported in April 2025 that the RBZ governor said, in March 2025, that "the official rate should guide pricing." Whatever rate you choose, record it, apply it consistently, and check the legal position with a lawyer or accountant. A price list that switches between rates without notice is hard to defend.

A simple price list layout

A price list that shows its working is easier to defend, to update and to explain. This example uses the illustrative rate from the worked example:

Replace the rate and date with the published RBZ figures on the day you update the list. Keep the old lists, so you can show what you charged on a given date.

Tell customers about price changes

When you reprice, tell customers in plain words. Say what changed, the date it takes effect and the rate you used. Keep a short notice at the till or on your price board, and a message for regular customers. If a customer has placed an order at the old price, decide in advance whether you will honour it, and write that policy down. Customers accept a change more easily when they can see the reason and the date, and when they are not surprised at the counter.

Mistakes to avoid

• Pricing from last month's cost, instead of the replacement cost.
• Updating the rate on some products and not others, so the list is inconsistent.
• Publishing a ZiG price with no rate and no date.
• Treating a currency gain on stock you already hold as profit from selling it. Read the multi-currency business guide on this point.
• Waiting for a monthly review while the rate moves sharply. Use a trigger to reprice in between.

A checklist for two-currency prices

1. Choose a base currency for each product.
2. Record your true cost in that currency.
3. Pick one published rate source and one fixed update day.
4. Write the rate and the date on each price list.
5. Price from replacement cost, not last cost.
6. Set a margin you can defend, and check it each week.
7. Write down your repricing trigger.
8. Show both currencies to customers.
9. Review the rules when the RBZ publishes a new directive.

Frequently asked questions

Should I show prices in both ZiG and US dollars?

It is clear for customers and avoids confusion at the till. I did not find a current rule that requires both currencies on every price, so check the latest directives before you change your shop display, and ask a lawyer if you are unsure.

Which rate should I use if the RBZ rate and the market rate differ?

Choose the rate you can record and defend, use it consistently, and say what it is on your price list. Many businesses use the official rate because the RBZ publishes it. If you use a different rate, get advice on the legal position first.

How often should I update my prices?

Weekly is a good starting point when rates move quickly. Monthly may suit slow-moving costs. The best schedule is the one you follow, and a repricing trigger covers the gaps between reviews.

Can I use the same method for services?

Yes. Set your service price in your base currency, convert it at the published rate, and reprice when the rate moves. The guide to pricing products for profit shows how to build the base price from your costs.

Sources

• Reserve Bank of Zimbabwe, Exchange rates (interbank rates)
• RBZ, Foreign Exchange Guidelines FXD5 Version 2.0 (March 2026), PDF
• NMB Bank, RBZ Notice on Foreign Exchange Directive FXD5/2026 (3 March 2026), PDF
• Zimbabwe Embassy, RBZ Guidelines to Authorised Dealers on Foreign Exchange Transactions (April 2025 version), PDF
• Equity Axis, Zimbabwe's Statutory Instrument 34 of 2025 (April 2025)
• Insider Zim, Why Zimbabwe requires businesses to display prices in Zim and US dollars (2020)

This article is general education, not legal, tax or financial advice. Exchange rates and rules change, so check the current figures and directives before you publish a price.