Bloomberg Markets :press: on Nostr: Why Did Zimbabwe Devalue Its Gold-Backed ZiG Currency? It's only been six months but ...
Why Did Zimbabwe Devalue Its Gold-Backed ZiG Currency?
It'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... #press
https://www.bloomberg.com/news/videos/2024-10-12/why-did-zimbabwe-devalue-its-gold-backed-zig-currency?utm_source=press.coop
It'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... #press
https://www.bloomberg.com/news/videos/2024-10-12/why-did-zimbabwe-devalue-its-gold-backed-zig-currency?utm_source=press.coop