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The Zimbabwe Gold (ZiG; code: ZWG) [3] is the official currency of Zimbabwe since 8 April 2024, [2] backed by US$575 million worth of hard assets: foreign currencies, gold, and other precious metals.
On 5 April 2024, the Reserve Bank of Zimbabwe announced a new currency to be introduced on 8 April 2024, called the Zimbabwe Gold (ZiG), replacing the Zimbabwean dollar. ZiG is to be backed by a basket of reserves comprising foreign currency and precious metals (mainly gold). Zimbabweans were given 21 days to convert their cash into ZiG.
Gold-backed digital token, abbreviated as GBDT is an investment instrument used in Zimbabwe. It was formerly known as ZiG, but its name was taken by a newly created gold backed currency, the Zimbabwean ZiG, thus renaming this investment instrument to GBDT. [1] [2] The digital coins are not loanable. [3]
The government had previously floated various ideas to replace the Zimbabwe dollar, including introducing gold coins to stem inflation and even trying out a digital currency.
Hyperinflation in Zimbabwe is an ongoing period of currency instability in Zimbabwe which, using Cagan's definition of hyperinflation, began in February 2007. During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics.
In April, the mortgage giant said home prices will increase only 0.5% in 2024 and 2025, down sharply from its forecast in March, when it predicted prices would rise 2.5% in 2024 and 2.1% 2025.
During the same month, the Reserve Bank of Zimbabwe declared inflation illegal, outlawing any raise in prices on certain commodities between 1 March and 30 June 2007. Officials arrested executives of some Zimbabwean companies for increasing prices on their products, [ 17 ] [ 18 ] and economists reported that "chaos had started to reign and ...
As of Oct. 27, the Changelly blog offers a prediction that bitcoin could end 2022 at $22,22.47. Coin Price Forecast is slightly more optimistic in that short term , predicting an 11% increase to ...