Hyperinflation to Hope: Zimbabwe Launches New Gold-Backed ZiG Currency Zimbabwe is launching a new currency, the ZiG (Zimbabwe Gold), in an effort to stabilize its economy, backed by $185 million in gold and other reserves. This initiative represents the country’s sixth attempt to establish a reliable currency, following the dramatic depreciation of its previous currency, which lost 80% of its value since the beginning of this year alone. After experimenting with gold coins and digital currency versions, the Zimbabwean central bank views the ZiG as an opportunity to create a “solid and stable” national currency, aiming to rectify the longstanding issues of currency devaluation and economic instability. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts NYSE Glitch Shows Berkshire Hathaway Down 99%, Trading Halted READ MORE Interest Rate Outlook: Fed Plans Cautious Cuts After Inflation Assessment READ MORE Core PCE Inflation Rises 0.2% in April, Matching Forecasts READ MORE Gold and Bitcoin: Vital Challengers to Fiat Currencies READ MORE VP Harris Pledges No Fracking Ban, Emphasizes Clean Energy Progress READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment