ZiG losses widen OK Zimbabwe’s forex debts

The ZiG lost 43 percent of its value on September 27, 2024 as authorities sought to catch-up with the runaway parallel market rates and improve the viability of the exchange rate system

THE Reserve Bank of Zimbabwe’s decision to devalue the ZiG currency in September last year resulted in “near-doubling” of OK Zimbabwe (OK Zim)’s United States Dollars-denominated debt stock, a senior company executive has revealed.The ZiG lost 43 percent of its value on September 27, 2024 as authorities sought to catch-up with the runaway parallel market…

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