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's newly introduced gold-backed currency, the ZiG, continues its downward spiral against the US dollar, raising concerns about the nation's economic stability. Despite being devalued by a significant 43% by the Reserve Bank of Zimbabwe (RBZ) just last Friday,

A storm of outrage has swept across Zimbabwe following the Reserve Bank of Zimbabwe's (RBZ) shocking decision to devalue the Zimbabwe Gold (ZiG) currency by

Zimbabwe’s gold-backed currency, which was devalued by 43% by the central bank on Sept. 27, remained under pressure on Monday.

Zimbabwe’s bankers on Tuesday warned the central bank about the impact of any future shocks to the local currency to avoid eating into people’s incomes and eroding public confidence after a 43% devaluation last week.