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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 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 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,
Xinhua
2h
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 ...
1d
on MSN
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 ...
2d
on MSN
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 ...
Bulawayo 24
4h
Zimbabwe resumes war victims' compensation after 26 years
The Minister of Veterans of the Liberation Struggle Affairs, Monica Mavhunga, has announced the resumption of compensation ...
1d
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 ...
5d
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, ...
11d
on MSN
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.
1d
Veteran White activist takes the reins in Zimbabwe’s second-biggest city
David Coltart is an anomaly: the White mayor of Bulawayo, Zimbabwe’s second-largest city, placed in office by an ...
4d
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 ...
23h
on MSN
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 ...
Zimbabwe
11h
OK Zimbabwe adopts double US$ pricing for ZWG transactions
Spread This NewsBy Alois Vinga LEADING retailer OK Zimbabwe has adopted a double US$ pricing for some of its commodities in a ...
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Sikandar Raza
ZiG
United States
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