Kaya 959 Kaya Biz

Zimbabwe's new gold-backed currency, the ZiG starts trading.

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GUEST – Dr. Prosper Chitambara, Independent Economist

The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.

RBZ governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. It replaces the Zimbabwe
dollar, which was largely known as the RTGs, which has lost more than three quarters of its value this year.
9 Apr 4PM English South Africa Business News · Investing

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