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 Economic Slowdown and Rising Inflation Cast Doubt on Soft-Landing Prospects READ MORE Surging Industrial Demand for Silver means Structural Deficit set to Intensify READ MORE Gold Nears Record Highs Despite Fed's Hawkish Stance on Rates READ MORE ConocoPhillips and Marathon Oil Merge in $22.5 Billion Deal, Extending Industry Consolidation READ MORE Emerging Market Debt Issuance Hits Record High in January READ MORE Add a Comment Cancel replyYour email address will not be published.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