Zimbabwe, ZiG
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 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.
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 Already Devaluing New Gold-Backed Currency
In April, Zimbabwe introduced a gold-backed currency in an effort to stabilize the country’s financial system. Less than six months later, the Reserve Bank of Zimbabwe has already devalued the new money.
Zimbabwe Said to Devalue Gold-Backed ZiG by 44% Against Dollar
Zimbabwe sold its gold-backed currency to banks at 44% less than the prevailing rate against the dollar Friday, according to four treasury dealers, effectively devaluing the unit.
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,
Zimbabwe’s Gold-Backed ZiG Weakens Past 14 Per Dollar to Record Low
Zimbabwe’s bullion-backed currency has slid past 14 per dollar, its weakest level on the official market since it started trading five months ago.
AllAfrica.com7h
Zimbabwe: 5 Killed After Vehicle Ploughs Into Pedestrians Walking On Roadside
IN a heart-wrenching incident, five pedestrians walking on the roadside were killed after a speeding vehicle veered off the road and struck them.
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, ...
Learning exchange with China empowers Zimbabwe’s modernization: ZimTrade CEO
This photo taken on August 29, 2024 shows the logo of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) near ...
AllAfrica.com7h
Zimbabwe: Chinese Investors Wreak Havoc in Zimbabwe - Mountains Are Disappearing Whilst the Country's Economy Sinks Deeper - Report
THE relationship between Chinese-owned extractive companies and communities in Zimbabwe has become increasingly unfriendly, adversarial and fraught with mistrust and deep suspicion.
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 ...
Bulawayo 249h
What will Zimbabwe do on the UN Security Council without a foreign policy?
Zimbabwe is campaigning to be elected as one of the non-permanent UN Security Council members for the period 2027-28.Yet, ...
Al Jazeera English11h
How secondhand clothes took Zimbabwe by storm – and hammered retail
The country’s clothes manufacturers are taking a beating from imported ‘preloved’ clothes and a struggling economy.
AllAfrica.com7h
Zimbabwe: Prominent Harare Businessmen Up for U.S.$1.4 Million Fraud Following Shady Property Deal
TWO prominent Harare businessmen are entangled in a US$1.4 million fraud case after they connived to sell a partially developed property in the capital city.