Zimbabwe Introduces Currency Backed by GOLD

Apr 12th 2024 3:51am EDT

The inflation-riddled African country turns to the intrinsic value of precious metal in attempt to curb currency devaluation. In a bid to curb inflation, Zimbabwe has rolled out a currency called Zimb Gold (ZiG) backed primarily with gold and foreign currency reserves. “With effect from today, banks shall convert the current Zimbabwe dollar balances to […]

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