Zimbabwe’s new gold-backed currency: New notes in circulation to counter inflation

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Al Jazeera English

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Zimbabwe’s new gold-backed currency: New notes in circulation to counter inflation


Zimbabwe’s new currency has gone into circulation. The introduction of the Zimbabwe Gold or Zig, is the government’s latest attempt to tackle hyperinflation.

Al Jazeera’s Haru Mutasa reports from Harare.

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29 Comments

  1. Seeing the corrupted "leadership" that Zimbabwe has to offer it's unlikely that any new currency in Zimbabwe will ever be trusted by its citizens. Anyway, I hope them the best though.

  2. Will foreign countries recognize the ZiG!? Those that need foreign currency for travels will the banks in Zimbabwe give out forex in exchange for ZiG

  3. All the best! Hope it goes well with no corruption, and things get better. I want this country to thrive, pray everything goes well. I am skeptical, but hopefully they can do it.

  4. So has the famous "gold mafia" issue has been resolved? Let's hope so. Let's also hope that a massive dose of integrity, honesty, restraint and good/easy-business policy has been injected into government. Let's also hope that an enormous amount of genuine trust has been infused into Zimbabweans to adopt this zig. But trust is usually always earned…. Usually there are no shortcuts.

  5. Hope this will spark a trend, remember the gold is the audit, as long as you hold it. Any country that teaches to inavate, invest, and trade, without destroying its currancy or getting into dumb wars will become rich.

  6. Our stumbling block is the illegal money changers that I think has destroyed our currency. This money changers looks like they're working for top politicians and if this is not stopped once and for all, we're not going anywhere as a country. People will have confidence in the currency if the government applies the law of the country to arrest these Illegal money changers like they did a few weeks ago. I'm really excited that at last, we now have our own currency and thanks for the reserve bank governor and the leadership of Zimbabwe for taking this bold step. I'm sure this is my final year working outside Zimbabwe, home sweet home