Zimbabwe, ZiG
Zimbabwe's ZiG currency falls over 40% on interbank market
Zimbabwe's gold-backed ZiG currency fell more than 40% against the U.S. dollar on the interbank market from Thursday to Friday, the central bank's website showed. The Reserve Bank of Zimbabwe's website gave the mid rate for ZiG as 24.
Zimbabwe Said to Devalue Gold-Backed ZiG by 44% Against Dollar
Zimbabwe sold its gold-backed currency to banks at 44% less than the prevailing rate against the dollar Friday, according to four treasury dealers, effectively devaluing the unit.
Zimbabwe Devalues ZiG as Latest Bid for Stable Currency Founders
Zimbabwe raised interest rates and devalued its gold-backed currency by 43%, following persistent weakness in the ZiG amid deep skepticism that the nation’s latest bid to create a viable local unit would succeed.
Zimbabwe said to devalue new ZiG currency 44% against USD, Bloomberg News reports
Zimbabwe is said to have devalued its new gold-backed ZiG currency by 44% against the U.S. dollar, Bloomberg News reported on Friday, citing four treasury dealers.
Zimbabwe's gold backed currency ZiG plummets by over 40%
The Reserve Bank of Zimbabwe (RBZ) today allowed the Zimbabwe Gold (ZiG) currency to fall by over 40% against the US dollar, following weeks of mounting
Opinion
ZiG-nificant currency Caspers: The ride from USD to devaluation
THE introduction of the Zimbabwean Gold-backed currency (ZWG) on April 5, 2024, marked a significant change in Zimbabwe’s monetary policy. Initially pegged at an exchange rate of US$1 to ZWG13 5686 on the interbank market, the ZWG was designed to stabilise the economy and curb hyperinflation.
Zimbabwe’s gold-backed ZiG weakens past 14 per dollar to record low
On April 5, the ZiG replaced the Zimbabwean dollar, which depreciated more than 80% against the dollar in 2024 and lost value every single trading day this year until it was abandoned. The gold-backed currency is the nation’s sixth attempt at having a functioning local unit since 2009.
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Zimbabwe said to cut value of gold-backed ZIG by 44%
Zimbabwe has devalued its gold-backed currency, the Zimbabwe Gold (ZiG), selling it to banks at a rate 44% lower than the prevailing dollar exchange rate. ・Zimbabwe devalued its gold-backed currency ...
News Day1dOpinion
ZiG: Retailers warning must be heeded
The warning by retailers must be heeded as it cuts across all formal sectors that are under siege from the overvalued ...
Bulawayo 241h
Zimra goes after businesses rejecting ZiG
The Zimbabwe Revenue Authority (ZIMRA) has launched a sweeping operation targeting businesses that are evading taxes and ...
Weather Fact Wednesday: Why Does The International Date Line Zig-Zag?
Was there ever a time you wished you could travel through time? Just cross the International Date Line (IDL), that’s how.
Moneyweb2h
Zimbabwe said to devalue gold-backed ZiG 44% against dollar
The ZiG, backed by the nation’s gold and hard-currency reserves, was adopted in early April, replacing the Zimbabwean dollar, ...
News242d
Arrogance, not gold, backs ZiG, Zim retailers say – and it's killing formal shops
SA-owned retailers are among those saying the formal exchange rate for Zimbabwe Gold is bleeding them dry, and pushing up ...
Africa forex update: Zimbabwe ZiG, South African rand, Nigerian naira
African currencies were in the spotlight after some of the top central banks delivered their interest rate decisions. Most of ...
The Zimbabwe Mail2d
As ZiG Falters, Is Monocurrency the Answer?
The debate on the efficacy of a monocurrency system has once again resurfaced as Zimbabwe continues to grapple with its ...