Monday June 30, 2025

Zimbabwe Devalues Gold-Backed Currency by 44%

Zimbabwe Devalues Gold-Backed Currency by 44%

by Bitcoin.com September 28, 2024 1 min read

(Originally posted on : Bitcoin News )

The Reserve Bank of Zimbabwe (RBZ) has devalued the Zimbabwe Gold (Zig) by 44%, causing the currency to plummet from 13.98 to 24.3 against the U.S. dollar. This drastic move addresses rising exchange rate volatility and inflationary pressures that have plagued the economy since August. According to RBZ Governor John Mushayavanhu, the decision was necessary […]

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