THE Reserve Bank of Zimbabwe (RBZ) has announced plans to engage mobile network operators to ensure parity in trading between ...

HARARE, Zimbabwe — Zimbabwe on Friday launched a new currency to replace its previous one that in recent months has been battered by depreciation, and in some instances rejection by the population.

When a currency implodes, people who have saved in it see their savings disappear. For example, assume that you had 1 million Zimbabwe dollar when it was trading at 100 to the US dollar. In this ...

The Zimbabwe ZiG currency has moved sideways this year as it outperformed many of its peer currencies. Data provided by the central bank shows that the exchange was trading at 26.7 today, August 19, ...

Zimbabwe has endured a series of policy U-turns as it searched for a viable currency to call its own. Authorities abandoned the worthless local dollar and embraced the greenback in 2009.

Zimbabwe's central bank has introduced a new gold-backed currency, ZiG, to combat high inflation. This is Zimbabwe's sixth attempt at a new currency since 2008.

Zimbabwe has tried to stave off the depreciation of its currency with unusual ideas before. In July 2022, it launched gold coins as legal tender to stabilize the local currency.

The gold-backed ZiG, which stands for Zimbabwe Gold, is the country's sixth attempt at a stable currency in 15 years. It was introduced in April at a rate of 13.6 ZiG per U.S. dollar and has since ...

(Bloomberg) -- Zimbabwe, in its latest bid to end the serial slide of the local dollar, has replaced it with a new unit called the ZiG backed by a basket of foreign currency and gold.Most Read ...

Currency turmoil on Zimbabwe’s parallel market over the past three weeks has been fueled by year-end demand and is “temporary,” the nation’s central bank governor said.

Zimbabwe has launched a new currency, which will be called ZiG and goes into effect on Monday, to replace its previous one that lost more than 70% of its value since January.