THE Ministry of Finance has maintained that Zimbabwe’s gold-backed currency, ZiG, will bring more economic benefits than challenges, even as it has lost value over recent weeks.
Since its April launch, the ZiG has experienced volatility, with its value dropping from around 14 to nearly 25 against the US dollar.
Currently, it trades at ZiG26,9024 per US$1 on the official market. This devaluation has led to higher costs for goods and services, disrupting supply chains and causing concern among investors about the currency’s stability and the broader economic outlook.