Zimbabwe’s Central Bank Confident of Gold-Backed ZIG Currency’s Long-Term Stability

THE Reserve Bank of Zimbabwe (RBZ) is still pinning its hopes on the strength of the local gold-backed Zimbabwe Gold (ZiG) currency to compete against major currencies, including the United States dollar.

Speaking during a Tourism Business Council of Zimbabwe (TBCZ) indaba recently, RBZ Governor John Mushayavanhu put up a spirited defence against detractors of the ZiG claiming robust monetary policy measures introduced by the bank were ensuring the ZiG remains bouyant.

“The ZiG to USD rate is…