which have had detrimental effects on the lives of its people due to hyperinflation that devalued its currency. However, there is now a solution at hand in the form of ZiG. This innovative initiative aims to tackle the problem head-on by linking the currency to the value...
The Reserve Bank of Zimbabwe (RBZ) has published the interbank Foreign Currency Exchange Rate, Gold Coin and Gold-backed Digital Token Prices as at 27 December 2024. Below is the RBZ statistics on how the Zimbabwe Gold (ZiG) is trading: Meanwhile, according to renowned American economic analyst...
using an exchange rate announced by Governor John Mushayavanhu during last Friday's unveiling of the nation's latest effort to create a functioning local currency.
The International Monetary Fund, which in February urged the liberalization of the exchange rate, said it will support authorities’ latest efforts to restore macroeconomic stability. Adding that it needed time to review the design and implications of the new currency arrangement before weighing in ...
The new currency was introduced at a rate of ZiG13.56 per US$1. One of the main functions of money is its ability to store value, as well as be a medium of exchange. However, under the multi-currency regime in Zimbabwe, most traders have historically firmly rejected the local cur...
Zimbabwe’s new gold-backed currency the ZiG strengthened a day after its debut, even as it roiled commerce nationwide as banks, retailers and utilities battled to switch to the new unit. It gained 0.2% to 13.53 per US dollar, according to data published
The central has held this position since 2019. Yet, the local currency price discovery process is still experiencing solid structural bottlenecks. It is the public’s view that a fully floating ZiG exchange rate, when coupled with sound fiscal management, will subdue speculative attacks to help wi...
The Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mushayavanhu, has issued an update on the new ZiG currency as chaos reigns supreme.
“We are working closely with Government and are quite satisfied we share the same interests of a stable currency, exchange rate and inflation. “Fifty percent of QPDs will be paid in ZiG and all big companies will be chasing after the ZiG. Creating demand and space for ZiG is one of th...
Zimbabwe has started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people.