Zimbabwean ZiG - Wikipedia
The Zimbabwe Gold (ZiG; code: ZWG) [3] is the official currency of Zimbabwe since 8 April 2024, [2] backed by US$575 million worth of hard assets: foreign currencies, gold, and other precious metals. [4][5][6] It replaced the Zimbabwean dollar, which suffered from rapid depreciation, with the official exchange rate surpassing 30,000 Zimbabwean d...
Zimbabwe launches new gold-backed currency - ZiG - BBC
Apr 5, 2024 · Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for "Zimbabwe Gold". It is the latest attempt to stabilise an economy that has lurched from crisis to...
Zimbabwe’s new gold-backed digital currency: All you need to …
May 9, 2023 · The Zimbabwe gold-backed digital currency will be used as legal tender and a store of value alongside the Zimbabwean dollar and bond notes. Users can buy and sell it using Zimbabwean...
Zimbabwe introduces new gold-backed currency to tackle inflation
Apr 5, 2024 · Zimbabwe’s central bank has launched a new “structured currency” backed by gold, as it seeks to tackle sky-high inflation and stabilise the country’s long-floundering economy.
Zimbabwe’s gold-backed currency — ZiG | All you need to know
May 27, 2024 · Desperate to halt a money crisis underlining the country's economic troubles, the government launched the gold-backed ZiG, the latest attempt to replace the Zimbabwe dollar, which had been...
The ZiG: Zimbabwe rolls out world’s newest currency | World …
May 17, 2024 · Last month, Zimbabwe rolled out a new gold-backed currency called the ZiG, or Zimbabwe Gold, in an effort to mitigate the currency instability and hyperinflation that has plagued the country for decades.
ZiG: Zimbabwe’s Gold-Back Shot at a Stable Currency
Aug 8, 2024 · The ZiG, short for Zimbabwe Gold, was launched in April to replace the crumbling Zimbabwean Dollar, and was backed up by gold and foreign currency reserves. However, deep skepticism of the new...
Zimbabwe’s gold-backed currency loses half its value: Why and …
Oct 24, 2024 · On September 27, the Reserve Bank of Zimbabwe (RBZ) slashed the value of the ZiG by 43 percent, taking it from 13.56 ZiG to the US dollar at its launch to 24.4 ZiG to the dollar. The...
Explainer: Zimbabwe Gold (ZiG) currency – FactCheckZW
Apr 8, 2024 · The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new “structured currency” termed ZiG (Zimbabwe Gold) on April 5. A “structured currency” is a currency that is pegged to a specific exchange rate or currency basket and ZiG shall always be anchored and fully backed by a composite basket of foreign ...
Zimbabwe launches ‘gold-backed’ currency to replace collapsing dollar
Apr 5, 2024 · Zimbabwe has replaced its collapsed local dollar with a new gold-backed currency, the latest move by President Emmerson Mnangagwa’s government to tackle decades of monetary chaos.