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
Trump's Greenland Ambitions and EU Relations Heighten Economic Uncertainty

Donald Trump's ambitions regarding Greenland and his confrontational stance towards the EU are expected to escalate tensions, impacting global economic stability.

Cryptocurrency Markets Brace for Turbulent Week Amid EU Tensions

The new week promises to be intense for cryptocurrency enthusiasts, with considerable market fluctuations anticipated due to heightened risks from the European Union's recent statements.

Genius Trading Transitions to Retroactive Points System with CZ's Guidance

Genius Trading announces the suspension of its dynamic points program, transitioning to a retroactive points system with support from YZi Labs and guidance from Zhao Changpeng (CZ).

US Treasury Confident in Supreme Court's Support for Trump's Tariffs

Scott Bessent, the US Treasury Secretary, expresses confidence that the Supreme Court will uphold Trump's tariffs under the IEEPA, crucial for economic stability.

Uniswap Price Shows Gradual Increase Amid Steady Activity

Uniswap's price has seen a modest rise due to consistent trading activity on its platform, increasing by approximately 15% this week.

Base Dominates Ethereum L2 Fee Revenue with Significant Lead

Base extends its lead in Ethereum Layer 2 fee revenue, earning approximately 147,000 in fees, significantly surpassing Arbitrum and Starknet.

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