ZIMBABWEAN companies should brace for further exchange-rate volatility this year following a shock devaluation of the nation’s bullion-backed currency in September, the Zimbabwe National Chamber of Commerce has said
The ZiG, short for Zimbabwe Gold and the nation’s sixth attempt at a stable currency since 2009, fell 43 percent against the dollar on September 27 2024 to narrow the gap between the official and parallel-market rates.
The move hit consumers’ disposable incomes, fanned inflation and crimped businesses’ profits.