zig currency

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 with rampant inflation. Backed by gold and other precious minerals, it now circulates […]

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. Confederation of Zimbabwe Retailers president Denford Mutashu disclosed manufacturers’ struggles during recent discussions. […]

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 address exchange rate volatility attributed to the unsupported ZWL. The currency is backed […]

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, marking a 0.8% decline from its initial rate of 13.56 per dollar on […]

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 Financial Intelligence Unit (FIU), and police will actively pursue such school authorities. Preliminary […]

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 Industry and Commerce joint committee in Parliament last Tuesday, urging them to actively […]

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 decline in gold prices, which have seen a downward trend over the past […]

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 Mushayavanhu disclosed that the new currency denominations, backed by a combination of gold, […]

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 past two decades due to currency fluctuations, Mushayavanhu pledges to usher in a […]

Harare- In a startling disclosure, Zanu PF spokesperson Christopher Mutsvangwa has asserted that Zimbabwe’s gold reserves were clandestinely relocated from the Reserve Bank of Zimbabwe (RBZ) during the era of the late President Robert Mugabe. click here to watch Chris Mutsvangwa video IMG_8141 The purported scheme, according to Mutsvangwa, involved collusion with a retired governor, […]