Zimbabwe's Advancements towards Currency Stability with ZiG

by Giorgi Kostiuk

a year ago

Zimbabwe has been advancing towards currency stability through the introduction of the ZiG currency, backed by gold reserves and foreign currency. The Reserve Bank of Zimbabwe (RBZ) launched Zimbabwe Gold (ZiG) to counter inflation, with the goal of reducing it from over 55% to 2% annually. While facing challenges like illegal foreign exchange trading and coin shortages, the RBZ is actively addressing these issues by cracking down on illegal FX traders, freezing bank accounts, and improving the availability of smaller denomination coins. To promote the usage of ZiG, cash withdrawals using debit cards will be facilitated at select financial service points, enhancing the currency's accessibility and stability in financial transactions.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Potential Ripple Effects on Crypto Assets and Market Following Connecticut's Decision

Connecticut's enforcement action may lead to significant ripple effects on the crypto market and assets.

Miguel Rodriguez6 minutes ago

Social Sentiment Hints at Countertrend Momentum in Crypto Market

Data from social media and crypto sentiment tools indicate a shift towards positive sentiment in the crypto market, suggesting a potential countertrend rally for BTC and ETH.

Arif Mukhtar12 minutes ago

Whitelist Access: A GameChanger for Apeing Investors

Whitelist access for Apeing offers early adopters a strategic advantage to secure tokens at the lowest price.

Luis Flores12 minutes ago

Silver-Backed ETFs See Major Inflows as Options Market Booms

Silver-backed ETFs recorded significant inflows in November 2025, reflecting strong investor confidence, alongside a surge in options market activity.

Andrew Smith22 minutes ago

Hana Financial and Dunamu Join Forces to Transform Remittance Services

Hana Financial Group has partnered with Dunamu to integrate blockchain technology into remittance services, aiming to reduce costs and processing times while enhancing transparency.