Which country has introduced a new gold-backed currency, ‘ZiG’?
Zimbabwe
2024 April
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4.25/5 |
After its launch, Zimbabwe's new gold-backed currency, the ZiG, strengthened by 0.2% to 13.53 US dollars. Despite this, the introduction of the system caused widespread disruption as utilities, banks, and retailers found it difficult to adjust. During the unveiling last Friday, Governor John Mushayavanhu declared that the exchange rate was 13.56 per dollar. These figures were made public on the Reserve Bank of Zimbabwe's website, which also highlighted the nation's continuous efforts to create a stable national currency.