Zimbabwe Devalues Gold-Backed Currency by 44%

The Reserve Bank of Zimbabwe (RBZ) has devalued the Zimbabwe Gold (Zig) by 44%, causing the currency to plummet from 13.98 to 24.3 against the U.S. dollar. This drastic determination addresses rising speech complaint volatility and inflationary pressures that person plagued the system since August. According to RBZ Governor John Mushayavanhu, the determination was indispensable […]