Zimbabwe introduces new currency as depreciation and rising inflation stoke economic turmoil
Published on: Friday 05 April 2024
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. Reserve Bank of Zimbabwe Gov. John Mushayavanhu said the new currency will be called ZiG, and will be anchored on gold reserves and a basket of foreign currencies. The Zimbabwe dollar has come under sustained pressure in recent weeks, making it one of the world’s worst performing currencies.
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