ZiG, Zimbabwe
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.
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 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 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 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. The ZiG, short for Zimbabwe Gold, is also experiencing its longest-yet losing streak against the dollar,
From 13.5 to 40: Here’s why the Zimbabwe ZiG is imploding
The Zimbabwe ZiG, a currency launched in April, has imploded, raising fears of sticky inflation and more US dollar demand.
Zimbabwe4h
Zimbabwe’s new ZiG’s performance trapped in RTGS cycle
Spread This NewsBy Gilbert Muponda The Reserve Bank of Zimbabwe (RBZ) last week devalued the Zimbabwe Gold (ZiG) to ZiG24,39 ...
News2422h
Zimbabwe shops impose limits amid panic-buying after huge official ZiG devaluation
The latest approach to the ZiG currency supposedly backed by physical gold – which hit an all-time high price last week – has ...
YourTango15h
Only People With Higher Than Average IQs Can See The Hidden Image In These Zig-Zag Lines
Research shows that people who can quickly disregard the zig-zagging lines and find the hidden image have higher than average ...
Bulawayo 243h
'RBZ's monetary policy not the root cause of ZiG devaluation'
Recent findings by an anonymous economist suggest that the Reserve Bank of Zimbabwe's (RBZ) monetary policy may not be the ...
AllAfrica.com21h
Zimbabwe: Zig - Exposing Economic Saboteurs Threatening Our Future
The introduction of the Zimbabwe Gold Currency (ZiG) sought to symbolise a shift towards economic sovereignty, self-reliance and stability.
News Day3d
When hubris overrides national interest: The failure of the ZiG
In conclusion, the introduction of the ZiG was a classic example of hubris overriding national interest. By rushing to ...
Intellinews on MSN1d
Zimbabwean businesses reject ZiG currency despite government efforts to build confidence in it
By bne IntelliNews Some Zimbabwean supermarkets, street vendors, transport operators and tuckshops are no longer accepting payment in the local currency, citing confusion that has followed its 43% ...