ZIMBABWE’S recently launched currency, the Zimbabwe Gold (ZiG), has appreciated by just over one percentage point against the US dollar on the reconfigured interbank market since its introduction last Friday.
The structured currency, backed by bullion, US dollars, and other commodities, was quoted at ZiG13,5012 against the greenback yesterday, up from ZiG13,6400:US$1 on Friday. Central bank governor, John Mashayavanhu, expressed confidence in the new currency, stating that it will “silence all doubting Thomases”.
Speaking at a breakfast meeting in Harare on Tuesday organised by 3Ktv, the governor urged Zimbabweans to give the new domestic unit a chance.