GoldBackedCurrency

Zimbabwe's Gold-Backed Currency Struggles to Keep Up with the Precious Metal's Surge

2 months ago

In recent weeks, Zimbabwe’s innovative gold-backed currency, known as the Zimbabwe Gold (ZIG), has faced significant challenges as it fails to capitalize on the ongoing rally in gold prices. Despite its inception aimed at stabilizing the nation’s crippling economy, ZIG has seen a lack of traction in the financial market, notably overshadowed by gold’s impressive gains.

Zimbabwe's Bold Monetary Policy Shift: Gold-Backed Currency Sees Surge Amid Economic Challenges

5 months ago

In a significant pivot towards economic stability, Zimbabwe has introduced a new monetary policy that has gained traction among its citizens, particularly in the wake of ongoing financial turbulence. The Reserve Bank of Zimbabwe (RBZ) recently highlighted the positive reception of the gold-backed digital currency, known as the Zimbabwe Gold Digital Currency (ZIG), which has invigorated the nation's efforts to combat rampant inflation and currency devaluation.

Zimbabwe's Zanu-PF Proposes Gold-Backed Currency to Replace USD

5 months ago

In a significant shift in monetary policy, Zimbabwe's ruling party, Zanu-PF, has put forward a proposal to adopt a gold-backed currency known as the Zimbabwe Gold Zollar (ZIG) as the nation’s sole legal tender. This initiative aims to mitigate hyperinflation, which has plagued the country for years and has led to extreme devaluation of the Zimbabwean dollar.