Zimbabwe Currency | New currency strengthens against US dollar
Zimbabwe Currency | New currency strengthens against US dollar
Zimbabwe’s new currency, the ZiG is currently trading stronger than the rand.
According to Petri Redelinghuys from Herenya Capital Advisors, part of that strengh comes from the rallying gold price on which the new currency is backed. #eNCA #DStv403 #QuestionThinkAct
source
Reviews
0 %
Yeah go Zimbabwe Go our own currency our Growth. I feel good
I dnt think so wait to see defore to late
That zig is worth nothing its now being backed by police not policy. Watch the space in a month's time
This is exactly what Malema and the EFF says could happen if we unite africa under one currency backed by all of our minerals. People act like they don't hear it 😢
Let's goooo ZIM!!! ❤❤❤
Zigzag it's a matter of time before it loose it's strength
I pray it gets better, so we can go back home
This shift should have been done a long time ago
They should have done this in 1980 …its not rocket science that a currency must be backed by gold reserves for it to be stable ..
If it succeeds, Nigeria will follow suit.
I feel for the country because the amount of poor management has been terrible…
WITH THAT SAID I wouldn't buy any, you still have to TRUST the exact same government to not dilute the paper for the gold equivalent.
It's the EXACT SAME REASON why every gold backed currency has failed.
They all rely on the 3rd party.
Lot of Thanks to our finance minister doctor John mangudya
It's to soon
Gold is God's money
Against what does Zim measure anything – can they take there million people back please. Since things are so good, can there people leave our country! Amerca will now start a revolution in Zim….lol
God is nt a person Sur 🙏🙏🙏, God please bless also Malawi please
This is good news
This is great, South Africa should consider going back to the gold standard as well, prevent currency manipulation by banks 😅
Gold and silver were recognized currencies throughout the ages Zimbabwe is simply following the origins of currency as know in all Religious Manuscripts.
Economics is a study of a lack of…Mineral currency bears intrinsic value hoards no interest or inflation.
Good luck to Zimbabwe, an economic improvement of Zimbabwe will free Southern African countries due to influx of Zimbabwe
South African currency is manipulated by its banks and certain individuals and are not punished
Good one my African brother
Thank God for Zimbabwe.. Nigeria should do the same.. and back the Naira with gas n Gold too
This is not really a gold standard as the currency is not fully convertible into gold. This is more of a gimmick to convince their own people that their currency is worth something. Zimbabwe's issues stem from state corruption and therefore a great mistrust of its institutions.
Zimbabwe needs to implement transparency of finances and have open audits. It needs an independent court system and a police force that is held accountable. It needs to start arresting corrupt people and punish them.
It needs freedom of press and community based watchdogs on corruption. It needs to implement property rights and protect them and people's investments. It needs free elections and citizen participation in the drafting of budgets.
Re-branding your dollar does nothing to tackle these issues.
Zimbabwe here I come
Good news for Zim ❤ it will work
To all fellow Zim Foreign Nationals… What's up my Ziggas
Amazing grace, how sweet that sounds 👏🏿👏🏿👏🏿
Good news
Fake intellectualism 😂😂. Self serving rhetoric pouted as facts . Africans should stop being lobbyist for International bonds seller ( "INVESTMENT" . AFRICA IS Designated as the source of raw materials and human labour and market.
Failure to address that there will never be development.
Devalued currencies facilities access for investors and high revenue turnover for other countries ( so called investment)
You won't learn this in western economics. They teach resource scavenging. It's a necessity to have failing all Africa economies .
Ditch western economics books .
So if you are holding the 100 Trillion Note is it worthless now
Zimbabweans are revolutionary by nature.
This system is likely going to shake even first world nations.
Can a Zimbabwean walk into a bank and obtain gold against his Zig? No? Then it is just as worthless as the zdollar
Nato will never leave zim to be ahead of them