Zimbabwe’s gold-backed currency loses half its value: Why and what’s next?
Zimbabwe’s gold-backed currency loses half its value: Why and what’s next?
Oct 24, 2024
ALJAZEERAAl Jazeera Staff
[IN CONVERSATION] Zimbabwe's gold-backed currency (ZiG), launched on April 5, 2024, has faced significant depreciation, trading at $26.4 in February 2025. Despite an 87% rise in gold and forex reserves to $550 million, the ZiG's instability continues to impact the economy and traditional retailers. CEO of iShandi, Humphrey Machukuche unpacks this. #CNBCAfrica #DSTV410 #ZIG #Zimbabwe | CNBC Africa
1:40
[IN CONVERSATION] Zimbabwe's gold-backed currency (ZiG), launched on April 5, 2024, has faced significant depreciation, trading at $26.4 in February 2025. Despite an 87% rise in gold and forex reserves to $550 million, the ZiG's instability continues to impact the economy and traditional retailers. CEO of iShandi, Humphrey Machukuche unpacks this. #CNBCAfrica #DSTV410 #ZIG #Zimbabwe | CNBC Africa
38 viewsMar 24, 2025
FacebookCNBC Africa
The ZiG is the world’s newest currency – here’s what you need to know
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Zimbabwe's new currency, the ZiG has strengthened against the US dollar on its second day. ZiG is short for Zimbabwe Gold - and it was rolled out on Monday. The central bank launched the new currency on Friday, and it will replace the Zimbabwean dollar. #SouthAfricaTonight #DStv403 | eNCAnews
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