Inflation-hit Zimbabwe has a new currency — again. Last week, the country's central bank introduced a new gold-backed currency called Zimbabwe Gold, or ZiG, in an attempt to tame price gains ...

Less than six months after Zimbabwe launched yet another new currency, it was forced to devalue it, signalling new challenges for the Southern African country’s efforts to stand up a local ...

Money does not offer advisory services.*** View OfferADVERTISEMENT The gold standard was a long-standing monetary system ...

The new banknotes come in denominations from 1 to 200 Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for "Zimbabwe Gold". It is the latest attempt to stabilise an ...

Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The value of fiat money is derived from ...

Reports have since suggested the potential new BRICS currency will be 40% backed by gold and 60% backed by reserves in member currencies. Meanwhile, reserve banks across the globe have added large ...

It's only been six months but it appears as if Zimbabwe's latest currency experiment is at risk of failure. Almost half the value of the ZiG, short for Zimbabwe Gold, has been wiped out since its ...

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.

EMOTIONS aside, allow me to analyse the good, the bad and the in-between of the country’s domestic currency, the Zimbabwe Gold (ZiG). The ZiG was introduced, as a structured currency, in April 2024.

Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for "Zimbabwe Gold". It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the ...