Zimbabwe's new gold-backed currency, the ZiG starts trading.
Loading player...
GUEST – Dr. Prosper Chitambara, Independent Economist
The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.
RBZ governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. It replaces the Zimbabwe
dollar, which was largely known as the RTGs, which has lost more than three quarters of its value this year.
The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.
RBZ governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. It replaces the Zimbabwe
dollar, which was largely known as the RTGs, which has lost more than three quarters of its value this year.
