Zimbabwe Eyes Gold-Backed Currency to Fortify Financial Stability Zimbabwe is exploring the option of backing its currency with gold to stabilize its exchange rate, according to Finance Minister Mthuli Ncube. This announcement comes as part of efforts to address the ongoing instability of the Zimbabwe dollar, which has struggled since its reintroduction in 2019 after a period of hyperinflation. President Emmerson Mnangagwa also indicated plans for a “structured currency” to overhaul the current system. Despite previous attempts, including the introduction of gold coins and digital tokens, to support the currency, the Zimbabwe dollar continues to perform poorly. These efforts have faced criticism from the International Monetary Fund, which has questioned the unconventional methods employed by Zimbabwe to improve its currency’s value. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Yukon Government Seeks Control of Victoria Gold After Mine Disaster READ MORE Federal Reserve Shows Little Urgency to Cut Interest Rates READ MORE The Day the Hunt Brothers Capped the Price of Gold (Part I) READ MORE Japan Spends $59 Billion in Market Moves to Bolster Yen Amid Economic Woes READ MORE Currency Watch: Dollar Rises, Eyes Set on Upcoming U.S. Inflation Insights READ MORE Add a Comment Cancel replyYour email address will not be published.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