The Reserve Bank of Zimbabwe (RBZ) has laid out an ambitious roadmap to phase out the multi-currency system by 2030 declaring that the ZiG currency will become the sole legal tender for domestic transactions. In a statement, the RBZ said the country is currently operating under
By Takudzwa Tondoya The Reserve Bank of Zimbabwe (RBZ) has more than doubled its gold reserves backing the local currency, the ZiG signaling a notable step toward currency stability and economic confidence. According to the RBZ’s Q2 Monetary and Financial Highlights released this week, gold reserves rose
The Reserve Bank of Zimbabwe (RBZ) has called on the public not to panic over rising year-on-year inflation saying the increase is temporary and mainly caused by a past price shock. In a statement, RBZ Governor Dr. John Mushayavanhu said the annual inflation for the Zimbabwe
By Elishamai A. Ziumbwa The Ministry of Primary and Secondary Education has issued a firm directive reminding schools that the Zimbabwe Gold (ZiG) currency remains legal tender for all school-related transactions. In a statement released this week, the Ministry said parents and guardians are free to pay
The Consumer Protection Commission has urged the public to report businesses refusing to accept Point-of-Sale (POS) transactions, focusing on those rejecting Zimbabwe Gold (ZiG) payments in favor of U.S. dollars. The blitz comes as Zimbabwe's local currency continues its downward slide, further complicating the economic
The Reserve Bank of Zimbabwe (RBZ) has injected a cumulative US$64 million into the interbank foreign exchange market in September, Governor John Mushayavanhu announced. This intervention aims to address the "transitory foreign currency supply and demand mismatches" that have been putting undue pressure on the foreign
Finance and Economic Development Minister, Professor Mthuli Ncube, has announced that the government will soon be introducing regulations to enforce the use of the official exchange rate for pricing goods and services. In a statement, Professor Ncube highlighted that since the exchange rate is market-determined, there
The Zimbabwe Stock Exchange (ZSE) has endured a difficult week with the market bearish as investors continue a “wait and see” approach since the introduction of the new currency. The coming in of the ZiG currency has not been able to cheer up investor sentiment in
On 5 April 2024, the Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mushayavanhu, announced the Zimbabwe Gold (ZiG) as the new currency to replace the inflation-battered Zimbabwe Dollar (ZWL). Prior to the Monetary Policy Statement on 5 April that introduced the new currency, there was
You cannot copy content of this page