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Zimbabwe’s Gold-Backed Currency Gains Traction, Central Bank Reports

Zimbabwe’s Gold-Backed Currency Gains Traction, Central Bank Reports

Sputnik Africa

Zimbabwe’s Gold-Backed Currency Gains Traction, Central Bank ReportsThe Zimbabwe Gold (ZiG) currency, introduced in April 2024, now boasts over 100% reserve... 18.06.2025, Sputnik Africa

2025-06-18T10:19+0200

2025-06-18T10:19+0200

2025-06-18T11:44+0200

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Zimbabwe’s Gold-Backed Currency Gains Traction, Central Bank ReportsThe Zimbabwe Gold (ZiG) currency, introduced in April 2024, now boasts over 100% reserve backing, the Reserve Bank of Zimbabwe (RBZ) reported.Transactions in local currency on the National Payments System increased from ZWG7.9 billion (26%) in April 2024 to ZWG56.8 billion (43%) by May 2025. RBZ Governor John Mushayavanhu attributed the rise to growing confidence in ZiG and improved economic sentiment. He noted that foreign reserves, reported at $701 million,comfortably cover reserve money (ZWG4.7 billion) and local currency deposits (ZWG15.5 billion).Subscribe to @sputnik_africa Sputnik Africa | X

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