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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 allows currency to slump over 40%, hikes policy rate
Zimbabwe's central bank allowed the local gold-backed currency to fall over 40% against the dollar on Friday and hiked its policy rate, giving in to weeks of sustained pressure on the currency which was only launched in April.
Zimbabwe's gold backed currency ZiG plummets by over 75%
The Reserve Bank of Zimbabwe (RBZ) today allowed the Zimbabwe Gold (ZiG) currency to fall by over 74% against the US dollar, following weeks of mounting
Zimbabwe knocks 40% off value of gold-backed currency
Zimbabwe's central bank has devalued its gold-backed currency by over 40% against the US dollar, indicating that the last ditch effort to stabilise the country's volatile economy, is in trouble. The Reserve Bank of Zimbabwe (RBZ) made the decision to slash the local exchange rate to 24 Zig to $1 (£0.
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.
Zimbabwe devalues currency amid exchange rate volatility
The Reserve Bank of Zimbabwe (RBZ), the country's central bank, on Friday devalued the new gold-backed currency by 42.6 percent against the U.S. dollar in its first official adjustment of the exchange rate since its launch in April.
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,
3h
Zimbabwe currency plunges after central bank move to allow more flexibility
An economist says the drop is an adjustment toward the ZiG's real value and a reflection of the actual state of Zimbabwe’s ...
My Zimbabwe News
2h
ZiG plunges 44%: RBZ devalues “gold-backed” currency as economic pressures mount, ZBC, ZINARA, etc swiftly hike fees
In a dramatic move reflecting the deepening economic woes gripping Zimbabwe, the Reserve Bank of Zimbabwe (RBZ) has devalued ...
Moneyweb
12h
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, ...
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