Zimbabwe: Currency Collapses https://www.freiheit.org/simbabwe/currency-collapses
On April 5, the Reserve Bank of Zimbabwe (RBZ) introduced a new currency, the Zimbabwe Gold (ZiG), backed by 2,522 kg of gold and US$100 million in foreign currency reserves. Despite the declining use of the gold standard globally, Zimbabwe adopted this system to de-dollarise its economy and address currency and exchange rate issues, which saw the previous Zimbabwean dollar lose about 114% of its value between January and March 2024.
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