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Category ZiG

Zimbabwe’s Gold-backed Currency Dips 40% Against the US Dollar

Zimbabwe’s Gold-backed Currency Dips 40% Against the US Dollar

The Reserve Bank of Zimbabwe (RBZ) declared a devaluation of the Zimbabwe Gold, also known as ZiG, less…
Local Currency That Challenged the US Dollar Fails, Dips 40%

Local Currency That Challenged the US Dollar Fails, Dips 40%

Zimbabwe had recently launched a new currency named ZIG which was backed by gold. The gold-backed ZIG local…
BRICS Bank Offers Zimbabwe Escape From IMF Debt Traps, Says Professor

BRICS Bank Offers Zimbabwe Escape From IMF Debt Traps, Says Professor

A Zimbabwean professor has highlighted the BRICS New Development Bank (NDB) as a crucial alternative to the International Monetary Fund (IMF), offe...
BRICS: New Gold-Backed Currency Gains Steam & Challenges the US Dollar

BRICS: New Gold-Backed Currency Gains Steam & Challenges the US Dollar

Inspired by the BRICS de-dollarization agenda, Zimbabwe launched a new gold-backed currency, the ZIG, early this year to…
Zimbabwe’s Gold-Backed Currency Sees Gains, but US Dollar Remains Dominant

Zimbabwe’s Gold-Backed Currency Sees Gains, but US Dollar Remains Dominant

Zimbabwe’s gold-backed currency, the ZIG, has seen a significant increase in usage since its introduction in April. While the U.S. dollar remains t...