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“Holders of physical gold coins, at their discretion, will be able to exchange or convert, through the banking system… into gold-backed digital tokens,” the Reserve Bank of Zimbabwe said in a statement. It invites individuals and corporate entities to use the digital curr...
Harare - Zimbabwe announced on Monday that it would abandon the use of foreign currencies which replaced the local dollar that was wiped out by hyperinflation ten years ago. President Emmerson Mnangagwa has promised to introduce a new national currency s
ZIMBABWEAN consumers were yesterday left stranded after businesses suspended trading using the Zimbabwe dollar following the introduction of a new currency on F...
inflation rate in Zimbabwe soared for the fourth month to 47.6% in February 2024, the highest in over a year, from 34.8% a month before. The acceleration in overall inflation is largely due to the continued depreciation of the Zimbabwean dollar against the greenback. The domestic currency......
ZIMBABWE marked an epochal moment in its history when it introduced a new currency, Zimbabwe Gold (ZiG), on April 5, taking a giant step towards bringing a lasting solution to exchange rate volatility, which, for nearly half a decade, has driven inflatio
Five months after its launch, Zimbabwe's new gold backed currency ZiG, which stands for Zimbabwe Gold, is under pressure and has lost almost 80% of its value on the black market - where it trades between 20 and 26 ZiG to $1.
The results infer that both bank-specific (internal) factors and macroeconomic (external) factors affect the deposit mobilisation ability of commercial banks in Zimbabwe under a multi-currency system. The study recommended that commercial banks open more branches to be mor...