Zimbabwe's ZiG currency stabilizes, President Mnangagwa considers USD removal if ZiG value grows.
Zimbabwe's ZiG currency has held steady since its launch, trading at 13.70 vs. the USD. The central bank has increased gold holdings by 30% since April, aiming for 3 tons this year. The government revealed that it needs over $2.5B in foreign currency reserves to fully de-dollarize. Zimbabwe President Emmerson Mnangagwa hinted at removing the USD if the ZiG remained stable and grew in value.
July 21, 2024
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