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.
Zimbabwe's Advancements towards Currency Stability with ZiG

by Giorgi Kostiuk
2 years ago

Other news
Kazakhstan's Trade Growth and Strategic Shift for 2026

Kazakhstan's Ministry of Trade and Integration reports significant growth in trade turnover and exports, with a focus on high-value goods and domestic production.

US Crypto Regulatory Landscape Under Discussion

During a recent interview, Binance CEO Richard Teng emphasized the importance of regulatory clarity for the US crypto market, stating that any regulation would be better than none.

BinanceUS Plans Expansion in the US Market

BinanceUS is exploring expansion in the US to enhance product offerings for American customers.

Binance Sees Massive Inflow of XRP Amid Market Dynamics

Binance absorbed a massive inflow of over 31 million XRP in a single day, raising questions about potential short-term supply dynamics.

Crypto Market Experiences Sharp Decline Amid Geopolitical and Economic Concerns

The cryptocurrency market faced a significant downturn, with Bitcoin dropping below $65,000 as traders reacted to US trade policy changes and geopolitical tensions.

Dogecoin Hits 1,100 Days at a Profit, Signaling Potential Market Shift

Dogecoin has surpassed 1,100 days at a profit, indicating a potential market shift.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter