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Скачать или смотреть Zimbabwe's New Gold Currency: ZiG Strengthens against the dollar

  • African Energy Council
  • 2024-04-20
  • 1848
Zimbabwe's New Gold Currency: ZiG Strengthens against the dollar
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Описание к видео Zimbabwe's New Gold Currency: ZiG Strengthens against the dollar

Zimbabwe's journey with currency tumult goes back to the infamous 2008 hyperinflation crisis, marked by the issuance of jaw-dropping trillion-dollar notes. Since then, the nation has witnessed a carousel of currency reforms, each promising stability but often falling short.

The Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009. It was demonetised in 2015, with outstanding accounts able to be reimbursed until 30 April 2016. In place of the Zimbabwean dollar, currencies including the South African rand, Botswana pula, pound sterling, Indian rupee, euro, Japanese yen, Australian dollar, Chinese yuan, and the United States dollar were used.
On 24 June 2019, the Reserve Bank of Zimbabwe abolished the multiple-currency system and replaced it with a new Zimbabwe dollar (the RTGS Dollar), which was the only official currency in the country between June 2019 and March 2020, after which multiple foreign currencies were allowed again. On 5 April 2024, the dollar was removed and replaced with what the authorities called "a structured currency backed by gold", named ZiG.

The new ZiG banknotes come in eight denominations between 1 and 200. Coins will also be introduced to overcome the shortage of US coins, which has seen people receive change in sweets, small chocolates and pens.
The new notes feature a drawing of gold ingots being minted, as well as Zimbabwe’s famous Balancing Rocks, which already appeared on the old ones.
The Reserve Bank of Zimbabwe (RBZ) said new banknotes and coins will only enter circulation at the end of April. Supermarkets and informal markets were only trading in US dollars this week as businesses and consumers tried to adjust to yet another currency switch in the southern African country.
#viral #viralvideo #gold #zimbabwe #dollar #zimbabweandollar #topafricanews #topnews #africanews #inflation

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