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Emerging-Market Currencies: Why Did Zimbabwe Devalue Its Gold-Backed ZiG?
Posted
October 12, 2024
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2:28Now PlayingIt's only been six months but it appears as if Zimbabwe's latest currency experiment is at risk of failure. Almost half the value of the ZiG, short for Zimbabwe Gold, has been wiped out since its debut in early April. The currency weakness, paired with high inflation, and rising interest rates, is all spelling pain for businesses and consumers alike. Bloomberg's Ray Ndlovu reports on Africa Amplified.
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