Zimbabwe's inflation drops to 11.7% as new gold-backed ZiG currency stabilizes the economy.

Zimbabwe's inflation rate slowed to 11.7% in November, down from 37.2% in October, due to the stabilizing gold-backed ZiG currency. The Reserve Bank of Zimbabwe attributes the currency's strength to a tight monetary stance, including a key interest rate hike. Finance Minister Mthuli Ncube is expected to announce further measures to boost the ZiG's use during a national budget presentation.

November 26, 2024
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