Zimbabwe’s Gold-Backed ZiG Weakens Further After Devaluation
Zimbabwe’s gold-backed currency, which was devalued by 43% by the central bank on Sept. 27, remained under pressure on Monday.
Zimbabwe Devalues Gold-backed Currency by 40%
Zimbabwe's central bank has devalued its gold-backed currency, the Zig, by over 40% against the US dollar, raising concerns about the country's ongoing economic challenges. The Reserve Bank of Zimbabwe (RBZ) reduced the exchange rate to 24 Zig per US dollar due to increased demand for the US currency,
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 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 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'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 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,
Zimbabwe’s Gold-Backed ZiG Weakens Past 14 Per Dollar to Record Low
Zimbabwe’s bullion-backed currency has slid past 14 per dollar, its weakest level on the official market since it started trading five months ago.
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Zimbabwe: Fraud-Accused Local Government Employee Granted U.S.$500 Bail
A Local Government employee Everisto Nyamadzawo who landed in the dock on allegations of abusing his powers as a public officer has been granted US$500 by Harare magistrate Marewanazvo Gofa.
The State of Zimbabwe’s Education System and the Need for Industrial Placements for Unexperienced Lecturers
The following is a guest post by Eng. Jacob Kudzayi Mutisi. Education is often heralded as the cornerstone of national ...
Zimbabwe criticized for allowing mass killing of elephants amid El Nino-produced drought
A climate crisis in southern Africa has triggered the government of Zimbabwe to allow for the mass slaughter of elephants, ...
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Zimbabwe: Chimombe, Mpofu Corruption Trial Today
THE trial of Harare businessmen Mike Chimombe and Moses Mpofu, accused of US$7,7 million fraud after they allegedly siphoned the money from the Presidential Goat Pass-On Scheme, is set to open today ...
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Zimbabwe Already Devaluing New Gold-Backed Currency
In April, Zimbabwe introduced a gold-backed currency in an effort to stabilize the country’s financial system. Less than six ...
Zimbabwe's retailers warn of store closures over exchange rate
Top Zimbabwean retailers have warned of potential store closures if the government insists on the use of an official exchange ...
Remains of South African freedom fighters arrive home from Zimbabwe and Zambia
The remains of 49 freedom fighters who died while exiled in Zimbabwe and Zambia during the struggle against white minority ...
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Zimbabwe: Human Rights Defenders' Trial Postponed As State Fails to Prepare Its Case
The trial of human rights defenders Robson Chere, Namatai Kwekweza and Samuel Gwenzi who are accused of disorderly conduct failed to kick off on Monday following the State's failure to present its ...