Zimbabwe Devalues Gold-backed Currency by 40%
Zimbabwe's central bank has devalued its gold-backed currency, the Zig, by over 40% against the US dollar, raising concerns about the country's ongoing economic challenges. The Reserve Bank of Zimbabwe (RBZ) reduced the exchange rate to 24 Zig per US dollar due to increased demand for the US currency,
Zimbabweans outraged after RBZ devalues ZiG
A storm of outrage has swept across Zimbabwe following the Reserve Bank of Zimbabwe's (RBZ) shocking decision to devalue the Zimbabwe Gold (ZiG) currency by
Zimbabweans reject the ZiG as the “gold-backed” currency loses value again within 72 hours of devaluation
Zimbabwe's newly introduced gold-backed currency, the ZiG, continues its downward spiral against the US dollar, raising concerns about the nation's economic stability. Despite being devalued by a significant 43% by the Reserve Bank of Zimbabwe (RBZ) just last Friday,
Zimbabwe bankers wary of more shocks after sharp ZiG devaluation
Zimbabwe’s bankers on Tuesday warned the central bank about the impact of any future shocks to the local currency to avoid eating into people’s incomes and eroding public confidence after a 43% devaluation last week.
Zimbabwe’s Gold-Backed ZiG Weakens Further After Devaluation
Zimbabwe’s gold-backed currency, which was devalued by 43% by the central bank on Sept. 27, remained under pressure on Monday.
Zimbabwe: Market Rejects ZWG As Central Bank Governor Defends Devaluation of New Currency
SUPERMARKETS, vendors, commuter omnibus operators and tuckshops are no longer accepting payment in the local ZiG currency following Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu's surprise 43% devaluation of the currency last week.
mbaretimes2h
Supermarkets and vendors turn down ZiG initiative
In a significant economic shift, supermarkets, vendors, commuter omnibus operators, and tuckshops across Zimbabwe have ceased ...
News Day3d
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 ...
iHarare News2d
RBZ Governor Explains Why ZiG Is Losing Value Despite Rising Gold Prices
The Governor of the RBZ, Dr John Mushayavanhu, has explained why the ZiG is losing value despite gold prices rising on the ...
Chronicle3d
RBZ liberalises exchange rate and tightens loan regulations to combat economic volatility
THE Reserve Bank of Zimbabwe (RBZ) has liberalised the exchange rate, effectively devaluing the local currency for the first ...
Opinion
News Day2hOpinion
Back in the soup
Devaluing the ZIG to 25: 1. Increasing interest rates from 20% to 35%, increasing the balances that had to be held by the RBZ in terms of bank deposits. Further restricting access to hard currency by ...
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 ...
Bulawayo 243d
RBZ raises bank policy rate to 35%
The Reserve Bank of Zimbabwe (RBZ) has announced significant measures to tackle resurgent exchange rate volatility and ...
My Zimbabwe News3d
ZiG plunges 44%: RBZ devalues “gold-backed” currency as economic pressures mount, ZBC, ZINARA, etc swiftly hike fees
In a dramatic move reflecting the deepening economic woes gripping Zimbabwe, the Reserve Bank of Zimbabwe (RBZ) has devalued ...