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

FHA's Two-Year Rule: Exceptions for Self-Employed Borrowers

Self-employed borrowers can qualify for FHA loans with less than two years of self-employment under certain conditions.

Jesper Sørensen9 minutes ago

Strategies for Self-Employed FHA Loan Applicants

Self-employed individuals can improve their chances of FHA loan approval with strategic planning and documentation.

Jesper Sørensen9 minutes ago

FHA Loans Now Accessible for Self-Employed Individuals

FHA loans are accessible to self-employed individuals, including entrepreneurs, freelancers, and 1099 contractors, providing crucial mortgage options.