Zimbabwe Says Gold-Backed Currency Stable but Investor Doubts Persist

Zimbabwe says gold-backed currency stable but investor doubts persist

Zimbabwe's gold-backed currency now has more than 100% reserve cover and is stable, according to the central bank, but doubts over its credibility remain, underscored by a persistent premium in the parallel market.

Zimbabwe’s gold-backed currency fails to win over investors

Central bank says the currency has more than 100% reserve cover and is stable

Mnangagwa inspects gold reserves at RBZ

President Emmerson Dambudzo Mnangagwa has expressed satisfaction with the Reserve Bank of Zimbabwe’s efforts to boost the country’s gold reserves. This follows his inspection of the RBZ gold vaults in Harare this Thursday, a key move following the launch of the gold-backed ZiG currency in April last year. The visit comes as Zimbabwe’s strategic gold […] The post Mnangagwa inspects gold reserves at RBZ appeared first on Zw News Zimbabwe.

Zimbabwe says gold-backed currency stable but investor doubts persist - Zimbabwe News Now

HARARE – Zimbabwe’s gold-backed currency now has more than 100 percent reserve cover and is stable, according to the central bank, but doubts over its credibility remain, underscored by a persistent premium in the parallel market. The Reserve Bank of Zimbabwe on Monday kept its benchmark rate unchanged at 35 percent, citing a stable exchange rate, opens new tab as one of the reasons, and reported total reserves of $701 million. The bank said the…

Despite Investors Doubt, Zimbabwe Says Gold-backed ZiG Currency Stable

By Enyichukwu Enemanna Zimbabwe’s central bank says the country’s gold-backed currency now has more than 100% reserve cover and is stable, but investors have raised doubts over its credibility as they instead place premium in the parallel market. The Reserve Bank of Zimbabwe on Monday kept its benchmark rate unchanged at 35%, citing a stable exchange rate as one of the reasons, and reported total reserves of $701 million. The bank said the volum…

Surprise ZiG appreciation – DailyNews

POLITICAL EDITOR IN A notable development, the ZiG has recently been gaining value against the US dollar. As a result, the local... To access this post, you must purchase a subscription. Please click the button below to visit our subscriptions page to select a package. Subscriptions