Zimbabwe Introduces Gold-Backed Currency ZiG to Tackle Inflation
TL;DR Summary
Zimbabwe has replaced its local dollar with a new currency called ZiG, backed by a mix of foreign currency and gold, in an effort to stabilize its economy. The new currency will be launched on April 8 at a rate of 13.56 per dollar and will have an initial interest rate of 20%.
- Zimbabwe Replaces (ZWL) Dollar With Currency ZiG, Tied to Gold, FX Bloomberg
- Zimbabwe launches gold-backed currency to replace battered local dollar Reuters
- Zimbabwe introduces new gold-backed currency to tackle inflation Al Jazeera English
- Zimbabwe introduces new currency as depreciation and rising inflation stoke economic turmoil The Associated Press
- Zimbabwe launches 'gold-backed' currency to replace collapsing dollar Financial Times
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