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The Zimbabwe ZiG, a currency launched in April, has imploded, raising fears of sticky inflation and more US dollar demand.

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 ...

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In a surprising move, President Emmerson Dambudzo Mnangagwa defended the beleaguered currency known as ZiG during his State of the Nation Address at the New Parliament Building on Wednesday.

Since then, the government has made six attempts to adopt a local currency, with the latest coming in April 2024 through the ZiG. The ZiG is backed by a combination of foreign currency reserves ...

The collapse of the ZiG has led to a sharp rise in the cost of goods and services, with retailers responding by replacing price tags in ZiG with those in US dollars. A shortage of the local ...

Some shops have reverted back to charging goods in foreign currency as the Zimbabwe Gold continues to weaken. Prices have risen sharply as a result. According to a snap survey conducted in Harare ...

(Bloomberg) -- 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 ...

The Governor of the Reserve Bank of Zimbabwe (RBZ), Dr John Mushayavanhu, has explained why the value of the Zimbabwe Gold (ZiG) currency, introduced in April, is dropping despite gold prices rising ...

Zimbabwe’s central bank has declared war on individuals and companies it blames for undermining the value of the nation’s newly launched Zimbabwe Gold (ZiG) currency, vowing to “double efforts” ...