HARARE, Zimbabwe — Out with the Zimbabwe dollar, in with the ZiG.

Zimbabwe on Tuesday started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people. The ZiG was introduced electronically in early April, but people are now able to use banknotes and coins.

It’s the southern African country’s latest attempt to halt a long-running currency crisis underlining its persistent economic troubles. The government had previously floated various ideas to replace the Zimbabwe dollar, including introducing gold coins to stem inflation and even trying out a digital currency.

Since it was launched electronically on April 5, the ZiG — short for Zimbabwe Gold and backed by the country’s gold reserves — appears to be heading down the same path of mistrust, with some government departments refusing to accept it.

The ZiG is the sixth currency Zimbabwe has used since the spectacular 2009 collapse of the Zimbabwe dollar amid hyperinflation of 5 billion percent, one of the world’s worst currency crashes to date. That set off a chaotic series of events: first the U.S. dollar was allowed as legal tender, then banned, then unbanned.

A new “bond note” became legal tender, the Zimbabwe dollar was reintroduced before the gold coins and digital currency were tried.

However, nothing brought any currency stability and the U.S. dollar remains the most trusted for ordinary Zimbabweans.

As the shiny new ZiG banknotes hit the streets, the mistrust was evident.

Kudzanayi Mande, a vegetable trader at the crowded Mbare market in the capital of Harare, said she would rather forgo a sale than accept the ZiG. She was confused, the 56-year-old said.

“Already there is an official exchange rate and a depreciated black market rate, so I will wait a bit to see what its real value is,” she said. “The U.S. dollar is still a safer bet.”

The government has allowed some businesses, such as gas stations, to refuse to accept the ZiG in favor of U.S. dollars. Some departments, like the office that issues and renews passports, accept only U.S. dollars.

At the same time, other businesses are being ordered to only use the ZiG, and face punishment if they don’t.

“The government prints the money so it should be the first to accept the currency and everyone else will follow,” said Gift Mugano, an economics professor at South Africa’s Durban University of Technology.

“Otherwise it is behaving like someone who feeds on takeaways but wants others to eat the food they cook,” Mugano said. “It becomes suspicious.”

Many in Zimbabwe still remember when a 100 trillion Zimbabwe dollar banknote was printed in 2009 at the height of the hyperinflation to keep up with spiraling prices.

At one point, a loaf of bread cost more than 500 million Zimbabwe dollars. Prices would change from when customers walked into a grocery store to when they lined up to pay at the cash register. Restaurants stopped displaying prices on menus as they would go up over the course of a dinner. People lugged around bags stuffed with banknotes. Savings and pensions became worthless.

Through the ordeals, the greenback remained precious — and highly valued on the black market.

Across Zimbabwe, the U.S. dollar is still widely used, from paying rent and school fees to buying groceries. Many take their local currency earnings to the black market to exchange for dollars since banks don’t give out U.S. dollars. Some people stash their U.S. dollars at home.

The government of President Emmerson Mnangagwa has taken a hard-line approach — dozens of black market currency dealers were arrested and have been in pretrial detention for weeks, accused of trying to undermine the new currency. After the ZiG was introduced electronically, bank accounts of some businesses were frozen, accused by the government of rejecting the new currency.

Authorities say they have faith in the ZiG because it’s backed by the country’s gold reserves. Mnangagwa said in a speech on Monday it was a matter of “our national identity and dignity” to trust the ZiG.

Though some hopeful Zimbabweans headed for the banks Tuesday to get their hands on the new currency, many remained skeptical after two decades of turmoil.

An online news outlet published a political cartoon showing a policeman struggling to hold up a collapsing house with the word ZiG on it.

The caption: “World’s first police backed currency.”

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Asteroids are cosmic time capsules that hold secrets about the formation and evolution of our solar system. A recent study examined the effects of space weathering on Ryugu, an asteroid explored by the Hayabusa2 spacecraft. The findings unveil a compelling narrative of transformation and resilience.

Asteroids as ancient artifacts

Professor Yuki Kimura and his team from Hokkaido University approach asteroids not just as geological specimens, but as ancient artifacts. Their mission is to uncover the stories these objects can tell us about the history of the solar system.

Electron holography functions like a supercharged microscope. Instead of just seeing the surface, it allows scientists to analyze the patterns formed by electrons that pass through a sample. This reveals the object’s internal structure at an incredibly small scale, including details about mineral arrangement and magnetic properties.

The solar wind is a flow of charged particles constantly streaming from the sun. Micrometeoroids are tiny bits of space debris – some no larger than a grain of sand. Over vast stretches of time, these forces bombard the surface of asteroids, causing subtle but significant changes to their composition.

Asteroids formed in the early solar system, a time when magnetic fields were more dynamic. Some materials can retain a trace of that ancient magnetism. Analyzing any remaining magnetic signatures offers insights into how the environment of our solar system changed over billions of years.

Asteroid Ryugu and space weathering

“The signatures of space weathering we have detected directly will give us a better understanding of some of the phenomena occurring in the solar system,” explained Professor Kimura.

Framboids are spherical clusters of microscopic mineral crystals, often containing magnetite, a magnetic form of iron oxide. The discovery of these demagnetized framboids indicates a powerful impact event. Micrometeoroids, though very small, can strike the asteroid at incredibly high speeds.

The research suggests that these impacts disrupted the magnetic properties of certain minerals within the asteroid Ryugu. Further studies will help scientists understand the thresholds at which impacts can erase magnetic records.

The effects of space weathering aren’t uniform across an asteroid’s surface. By analyzing changes in mineral composition and magnetic properties in different locations, scientists can create a map of weathering intensity. Areas exposed to the solar wind for longer periods would show more pronounced change.

This process creates a relative age map of the asteroid’s surface. Scientists can reconstruct a timeline of events from this map. Events might include asteroid collisions, changes in its rotational axis, or close encounters with other solar system bodies.

Study significance

“Although our study is primarily for fundamental scientific interest and understanding, it could also help estimate the degree of degradation likely to be caused by space dust impacting robotic or manned spacecraft at high velocity,” concluded Kimura.

As we envision longer space voyages and potential asteroid outposts, understanding space weathering becomes crucial. It’s the difference between building a house that crumbles or a protective shelter that endures. Asteroid Ryugu’s story informs the design of future spacecraft and helps ensure the safety of astronauts venturing into the vast cosmic unknown.

The asteroid Ryugu samples are a gift that keeps on giving. Scientists worldwide will continue to scrutinize this precious extraterrestrial material, pushing the boundaries of our knowledge about our solar system’s past and the practical challenges of spacefaring. Perhaps these studies will even illuminate how early asteroids delivered the ingredients for life to a young Earth, igniting our own story.

More about Asteroid Ryugu

Asteroid Ryugu, officially known as 162173 Ryugu, is a fascinating object in our solar system that has garnered significant attention from the scientific community, particularly for its potential to reveal secrets about the early solar system. Here’s a bit more about Ryugu beyond the specific research discussed:

Origin and classification of asteroid Ryugu

Ryugu is classified as a near-Earth object and a potentially hazardous asteroid. It belongs to the Apollo group of asteroids and is a C-type (carbonaceous) asteroid. This classification indicates that it contains a high amount of carbon in addition to rocks and minerals.

C-type asteroids are especially valuable for study because they are believed to be relics of the early solar system, containing primordial material that has remained relatively unchanged.

Physical characteristics

Ryugu has a somewhat spinning-top shape, which is characteristic of some small asteroids that have undergone rapid rotation.

The asteroid measures approximately one kilometer in diameter. Its surface is covered with boulders and appears very dark, indicating that it absorbs a lot of light, which is typical for C-type asteroids.

The roughness of the surface and the presence of large boulders make landing and sample collection missions quite challenging.

Scientific interest and missions

The primary reason Ryugu is of immense scientific interest is its ancient, unaltered chemical makeup, which offers a snapshot of the solar system’s conditions billions of years ago. Understanding its composition can provide clues about the origin of water and organic molecules on Earth, which are essential for life.

The Japan Aerospace Exploration Agency’s (JAXA) Hayabusa2 mission, which launched in 2014 and reached Ryugu in 2018, is the most notable mission associated with this asteroid.

Hayabusa2 collected samples from Ryugu’s surface and subsurface through a series of touch-and-go maneuvers and then returned these samples to Earth in December 2020. This mission is critical because it’s the first time subsurface material, which is less affected by space weathering, has been collected from an asteroid.

Future studies and impact

The ongoing analysis of the samples returned by Hayabusa2 will likely continue to provide new insights into the composition and history of Ryugu for years to come.

This research has implications not only for our understanding of asteroids but also for broader topics such as planetary formation, the distribution of organic compounds throughout the solar system, and even the potential for asteroid mining in the future.

Ryugu remains a key focus in the study of asteroids, with its samples expected to reveal more about our cosmic neighborhood’s past and the fundamental processes that shaped the inner solar system.

The study is published in the journal Nature Communications.

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