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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,
Zimbabweans reject the ZiG as the “gold-backed” currency loses value again within 72 hours of devaluation
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,
Zimbabweans outraged after RBZ devalues ZiG
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 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 bankers wary of more shocks after sharp ZiG devaluation
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.
iHarare News
2d
RBZ Governor Explains Why ZiG Is Losing Value Despite Rising Gold Prices
The Governor of the RBZ, Dr John Mushayavanhu, has explained why the ZiG is losing value despite gold prices rising on the ...
News Day
3d
RBZ devalues ZiG. . . it’s too little too late, says analyst
THE Reserve Bank of Zimbabwe (RBZ) yesterday devalued the Zimbabwe Gold (ZiG) to ZiG24,39 per dollar from ZiG13,99 in the ...
Chronicle
3d
RBZ liberalises exchange rate and tightens loan regulations to combat economic volatility
THE Reserve Bank of Zimbabwe (RBZ) has liberalised the exchange rate, effectively devaluing the local currency for the first ...
mbaretimes
4h
Supermarkets and vendors turn down ZiG initiative
In a significant economic shift, supermarkets, vendors, commuter omnibus operators, and tuckshops across Zimbabwe have ceased ...
Opinion
News Day
1d
Opinion
Too little too late
Will these measures stabilise the local currency? We believe they are too little too late as confidence in the currency has ...
AllAfrica.com
8h
Zimbabwe: Market Rejects ZWG As Central Bank Governor Defends Devaluation of New Currency
SUPERMARKETS, vendors, commuter omnibus operators and tuckshops are no longer accepting payment in the local ZiG currency following Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu's surprise ...
Bulawayo 24
3d
RBZ raises bank policy rate to 35%
The Reserve Bank of Zimbabwe (RBZ) has announced significant measures to tackle resurgent exchange rate volatility and ...
mbaretimes
3d
RBZ implements bold measures to address exchange rate
The Reserve Bank of Zimbabwe (RBZ) has implemented significant measures to address the recent surge in exchange rate ...
My Zimbabwe News
3d
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 ...
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Zimbabwe
ZiG
United States dollar
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