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
Made with AI
Tier I
Sector: #18291
Sealed Hiding Place Room
Resource Cache
Tier I
Requires 25% Tier Progress to Claim
Meme Cache
Tier I
Requires 50% Tier Progress to Claim
Equipment Cache
Tier I
Requires 75% Tier Progress to Claim
After collecting, hiding places will be stored in your inventory and can be opened with Keys.
Tier I
Sector: #18291
0%
25%
50%
75%
100%
Tier II
Survivors rescued:
0 / 600
Survivors
0/0
Other news
Hut 8 Wins Bid for Poolin's Texas Datacenter Sites
Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.
Senate Banking Committee Democrats Request Hearing on Prediction Markets
Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.
Crypto Economic Activity Remains Strong Despite Market Downturn
Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.
Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption
Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.
Cardano's Onchain Governance Approves New Treasury Allocations
Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.
Galaxy Invests $100 Million in Onchain Credit Infrastructure
Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.
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