New Zimbabwe Currency 2024. Zimbabwe’s new currency, the zig, has brought with it deflation. Bloomberg's ray ndlovu reports from harare.
Zimbabwe’s new currency, the zig, has brought with it deflation. It is the latest attempt to stabilise an economy that has lurched from crisis to crisis.
The Column Will Provide A Granular Analysis Of This Policy In Due Course.
Zimbabwe on tuesday started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people.
It Was Trading On Tuesday At 13.4 To The Dollar, Little Changed From Previous Levels.
The zig is anchored by 2.5 tonnes of gold in the central bank’s vault and a basket of foreign currencies held as reserves.
New Zimbabwe Currency 2024 Images References :
Harare, Zimbabwe (Ap) — Out With The Zimbabwe Dollar, In With The Zig.
The zig is the sixth currency zimbabwe has used since the spectacular 2009 collapse of the zimbabwe dollar amid hyperinflation of 5 billion percent, one of the world's worst currency.
The Currency Has Made Modest Gains Since Its Launch.
Due to high inflation, zimbabwe’s central bank has introduced a new currency that is primarily linked to gold, but also to a number of other precious metals and foreign currencies.