News Zimbabwe Currency: Zimbabwe's ZiG is the world's newest currency and its latest attempt to resolve a money crisis
Zimbabwe on Tuesday started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people. The ZiG was introduced electronically in early April, but people are now able to use banknotes and coins. The government had previously floated various ideas to replace the Zimbabwe dollar, including introducing gold coins to stem inflation and even trying out a digital currency.
News Zimbabwe Currency: Could Zimbabwe’s 2030 currency plan backfire? World Bank raises alarm
Zimbabwe plans to phase out the US dollar by 2030, but the World Bank warns that moving too quickly to a ZiG-only economy could backfire.
News Zimbabwe Currency: What next for the Zimbabwe ZiG currency after the new announcements?
The Zimbabwean ZiG currency has remained in a tight range this week as investors reacted to the new announcement by the government. The USD/ZWG exchange rate was trading at 26.19, where it has remained this year. Zimbabwe pledges not to abandon the US dollar The Zimbabwe ZiG currency was unchanged after President Mnangagwa announced that the countr...
News Zimbabwe Currency: Zimbabwe to introduce gold-backed digital currency
Zimbabwe will launch a digital currency next month by introducing "tokens" that are backed by gold reserves and can be transferred between people and businesses as a form of payment, the country's ...
News Zimbabwe Currency: Zimbabwe inflation drops to single digits for first time in decades
Zimbabwe’s annual inflation rate fell to 4.1% in its local currency in January — the first time the figure has fallen to single digits since 1997. Authorities hailed it as a h ...
News Zimbabwe Currency: Zimbabwe suspends teachers striking over poor pay
Zimbabwe's education ministry has suspended staff who did ... On Tuesday, the government announced a 20% wage rise for all civil servants, including a payment in foreign currency of $100 a month.
News Zimbabwe Currency: Zimbabwe Government Suspends Striking Teachers
The pay dispute goes back to October 2018, when the government stopped paying teachers in U.S. dollars, switching to the reintroduced Zimbabwean dollar. The new currency has steadily lost value, ...
News Zimbabwe Currency: The US dollar is king as Zimbabwe’s currency woes prevail
Spikes in the prices of basic commodities shows how the Zimbabwean dollar (ZW$) is failing to hold against its benchmark, the US dollar. History suggests that Zimbabwe’s current path will lead ...
