ZiG, Zimbabwe
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 Devalues ZiG as Latest Bid for Stable Currency Founders
Zimbabwe raised interest rates and devalued its gold-backed currency by 43%, following persistent weakness in the ZiG amid deep skepticism that the nation’s latest bid to create a viable local unit would succeed.
Zimbabwe's gold backed currency ZiG plummets by over 75%
The Reserve Bank of Zimbabwe (RBZ) today allowed the Zimbabwe Gold (ZiG) currency to fall by over 74% against the US dollar, following weeks of mounting
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 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 44% against dollar
The ZiG, backed by the nation’s gold and hard-currency reserves, was adopted in early April, replacing the Zimbabwean dollar, which had lost 80% of its value since the start of the year.
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.
Zimbabwe said to cut value of gold-backed ZIG by 44%
Zimbabwe has devalued its gold-backed currency, the Zimbabwe Gold (ZiG), selling it to banks at a rate 44% lower than the prevailing dollar exchange rate. ・Zimbabwe devalued its gold-backed currency,
My Zimbabwe News3h
Is this the end of The ZiG? Economists and experts call for ditching the failing currency as black market rate shoots to 1:40
The Reserve Bank of Zimbabwe's (RBZ) decision to devalue the Zimbabwe Gold (ZiG) currency by 44% has ignited a firestorm of ...
News Day8h
RBZ devalues ZiG. . . it’s too little too late, says analyst
THE Reserve Bank of Zimbabwe (RBZ) yesterday devalued the Zimbabwe Gold (ZiG) to ZiG24,39 per dollar from ZiG13,99 in the ...
Zimbabwe currency plunges after central bank move to allow more flexibility
An economist says the drop is an adjustment toward the ZiG's real value and a reflection of the actual state of Zimbabwe’s ...
Zimbabwe6h
‘Is ZiG collapse linked to Mnangagwa SADC chairship, activities preceding summit’— asks opposition Senator pleading transparency
Spread This NewsBy Anna Chibamu CITIZENS Coalition for Change (CCC) Senator Cecil Zvidzai has pleaded with Zimbabwean to be ...
News Day7h
ZiG rejection: Consumers at the receiving end
Consumer Council of Zimbabwe (CCZ) chief executive officer Rosemary Mpofu acknowledged that they knew about the non-function of ZiG swipe machines in some retail outlets which was giving consumers ...