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
0
Other news
Surge in Online Investment Fraud in Hong Kong
Surge in online investment fraud cases in Hong Kong, with over 80 reported in a week and losses exceeding HK80 million.
Hong Kong Woman Loses Nearly HK77 Million in Crypto Investment Scam
A woman in Hong Kong lost nearly HK77 million in a crypto investment scam after being promised guaranteed returns by a fraudulent platform.
XRP Derivatives Market Signals Persistent Bearish Sentiment
The XRP derivatives market has shown a consistent negative funding rate since the start of 2026, indicating a strong bias towards short positions among traders.
Asteroid Shiba Inspired by Young Girl's Dream
The Asteroid Shiba memecoin was inspired by Liv Perrotto, a 15-year-old girl who wished for her plush toy to be SpaceX's mascot.
Dogecoin Price Faces Key Resistance as Analysts Await Confirmation
Dogecoin's price remains compressed below 0.01, with analysts predicting a significant move contingent on crucial confirmations.
Macroeconomic Events May Propel XRP Price Higher
Macroeconomic events, such as rising oil prices and tensions in the Middle East, may lead to increased interest in XRP, potentially driving its price surge to $50-$150.
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