Zimbabwe, ZiG currency
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 (£0.75) on Friday.
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 New Gold-Backed Currency by 44%
Zimbabwe's gold-backed ZiG currency has depreciated by 44% against the U.S. dollar, moving from 14 to 25 per dollar. This significant devaluation was reported by Bloomberg News and confirmed by the Bankers Association of Zimbabwe President Lawrence Nyazema.
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,
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's Raza hails impact of franchise cricket on lower-ranked nations
Players from lower-ranked nations have limited opportunities to learn from competing with top-tier teams but franchise ...
Zimbabwe to cull 200 elephants to feed citizens left hungry by drought
Zimbabwe has authorized a mass slaughter of elephants to feed citizens left hungry by its worst drought in decades.
Remains of South African freedom fighters arrive home from Zimbabwe and Zambia
South African officials say the remains of 49 freedom fighters who died while exiled in Zimbabwe and Zambia during the ...
Zimbabwe criticized for allowing mass killing of elephants amid El Nino-produced drought
A climate crisis in southern Africa has triggered the government of Zimbabwe to allow for the mass slaughter of elephants, ...
China Mining Firms Partner with Zimbabwe on Lithium Mine
Chinese miners Zhejiang Huayou Cobalt Co. and Tsingshan Holding Group Co. are defying low lithium prices to develop a deposit ...
Zimbabwe and Namibia will kill scores of elephants to feed people facing drought
Zimbabwe and Namibia plan to slaughter hundreds of wild elephants and other animals to feed hunger-stricken residents amid ...
Cricket-Zimbabwe's Raza hails impact of franchise cricket on lower-ranked nations
Players from lower-ranked nations have limited opportunities to learn from competing with top-tier teams but franchise ...
Drought-Stricken Zimbabwe to Proceed with Rare Elephant Cull
Zimbabwe will proceed with its first elephant cull in decades after the southern African nation suffered a severe drought, ...
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Price instability drives consumers away from chain stores in Zimbabwe
HARARE, Sept. 28 (Xinhua) -- Chain stores have traditionally been the preferred choice for shopping, but informal stores are becoming popular among cost-aware Zimbabweans as the new gold-backed ...