RBZ establishes committees to strengthen Zimbabwe Gold currency, facing criticism over its stability and exchange rate issues.

The Reserve Bank of Zimbabwe (RBZ) has established two committees to bolster the stability of the Zimbabwe Gold (ZiG) currency, which has seen a rise in acceptance from 61% to 91% since its April launch. Despite this, critics argue that the currency's stability is artificial, with prices increasing by 50%, and it remains limited in use. The RBZ attributes exchange rate issues to price distortions and aims for a mono-currency system by 2030 amid ongoing parallel market challenges.

September 02, 2024
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