Zimbabwe’s currency, the Zimbabwe Gold (ZiG), may achieve stability only when demand for it reaches critical levels within the economy, says Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee member Persistence Gwanyanya. Since its introduction in April, the ZiG has faced turbulence, recently devaluing from around 14 to nearly 25 to the US dollar. This…
‘ZiG stability hinges on super demand’
To the contrary, the central bank, through the monetary policy statement issued last week, said its directive was “consistent with the increase in the number and value of transactions settled in ZiG since its introduction on April 5, 2024.”