zig currency

Zimbabwe’s Economic Stability Boosted by New Currency, Zimbabwe Gold (ZiG)

The introduction of Zimbabwe Gold (ZiG) in April 2024 has brought much-needed stability to Zimbabwe’s economy, according to the International Monetary Fund (IMF). ZiG has effectively curbed inflationary pressures, with the IMF projecting a modest 7% inflation rate for the remainder of

June 29, 2024

Zimbabwe

Zimbabwe’s ZiG Currency Reduces Monthly Inflation: Zimstat Report

Zimbabwe’s ZiG currency makes a significant impact on monthly inflation, reducing it to 0.6%, as reported by the Zimbabwe National Statistics Agency (Zimstat) on Wednesday. The ZiG, the country’s newly introduced currency, becomes the sixth currency in 15 years amid Zimbabwe’s battle

May 30, 2024

Business·Zimbabwe

Forex Shortage Hinders Zimbabwe Gold (ZiG) Adoption by Industry

ZIMBABWE | Industry is grappling with forex shortage as banks withhold funds for inputs, jeopardizing Zimbabwe Gold acceptance. Businesses face hurdles in accessing USD for vital imports, hindering ZiG’s adoption despite its launch to replace the Zimbabwe dollar on April 5, 2024.

May 12, 2024

Business·Zimbabwe

Mthuli Ncube Introduces ZiG200,000 Fine for Exchange Rate Violations

Finance Minister Mthuli Ncube has announced a ZiG200,000 fine for traders found violating exchange rate regulations. The new penalty targets individuals and corporates who set prices above the official exchange rate. Zimbabwe introduced the Zimbabwe Gold (ZiG) currency on April 5 to

May 10, 2024

Zimbabwe

Zimbabwe Gold (ZiG) Currency Faces Steepest Decline Since Launch

Zimbabwe’s currency, Zimbabwe Gold (ZiG), hit its lowest level against the US dollar since its launch last month, as reported on Monday, May 6th. According to data released on the Reserve Bank of Zimbabwe’s website, ZiG traded at 13.67 to the dollar,

May 7, 2024

Breaking News·Zimbabwe

Government Initiates ZiG Operation on Schools

ZIMBABWE | The government has launched a multi-agency operation targeting schools that demand tuition fees exclusively in foreign currency, while refusing Zimbabwe Gold (ZiG), which violates exchange control regulations. Officers from the Zimbabwe Anti-Corruption Commission (ZACC), the Reserve Bank of Zimbabwe (RBZ)’s

May 6, 2024

Zimbabwe·Zimbabwe Politics

Mushayavanhu Pleads With MPs to Market ZiG in Communities

RBZ Governor John Mushayavanhu actively called on Members of Parliament (MPs) to take charge in educating communities about the newly introduced currency, Zimbabwe Gold (ZiG). He made this appeal while engaging with MPs from the Budget and Finance as well as the

April 27, 2024

Zimbabwe

Zimbabwe’s Gold-Backed Currency ZiG Weakens Amidst Gold Price Decline

Zimbabwe’s newly introduced gold-backed currency, the ZiG, experienced its first weakening since its launch earlier this month. According to central bank data, the currency traded nearly 1% lower at 13.38 per dollar on Thursday compared to the previous day, reflecting the recent

April 26, 2024

Business·Zimbabwe

RBZ Assures Sufficient Cash Supply

The Reserve Bank of Zimbabwe (RBZ) has announced the completion of printing and minting the new Zimbabwe Gold (ZiG) banknotes and coins, scheduled for introduction into the market next Tuesday. In an exclusive interview with The Sunday Mail, RBZ Governor Dr. John

April 21, 2024

Business·Zimbabwe

“Crucify Me” If RBZ Reverts To Excessive Money Printing, Says Mushayavanhu

ZIMBABWE | In a compelling address to business leaders at a Zimbabwe National Chamber of Commerce gathering in Gweru, RBZ Governor John Mushayavanhu passionately calls for the restoration of trust in the nation’s banking system. Recognizing the erosion of confidence over the

April 17, 2024

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