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Vol 65 No 17

Published 23rd August 2024


Zimbabwe

Dollars still dominate the economy despite the launch of the ZiG

The country’s largest independent brokerage says the government should restore the trust of its citizens instead of forcing them to abandon the dollar

It has been four months since the introduction of the ‘Zimbabwe Gold’ or ZiG on 8 April and confidence in the currency has not improved. The official exchange rate between the ZiG and US dollar is holding relatively steady – currently at 13.8 ZiG to the US dollar, having started at 13.5 to the US dollar. However, the parallel market exchange rate has been slipping and is now estimated to be at least ZiG23 to the US dollar and sometimes as high as ZiG30 to the US dollar.

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