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2024 APR 06 ZIG Currency is Backed by Tangible held in reserve of Gold and Precious Metals

NOT Fiat Paper Money with zero substance.

GOLD-BACKED - ZIG

The new currency is part of a raft of measures announced by the incoming central bank governor John Mushayavanu in his inaugural monetary policy statement in the capital Harare.

Eight Banknotes:
1
ZiG, 2 ZiG, 5 ZiG, 10 ZiG, 20 ZiG, 50 ZiG, 100 ZiG, and 200 ZiG.

The ZiG would be "fully anchored and fully backed" by a basket of reserves comprising foreign currency and precious metals -- mainly gold

Two Coins:
Quarter
ZiG, Half ZiG

SIMPLICITY CERTAINTY PREDICTABILITY

The move aimed at fostering "simplicity, certainty, (and) predictability" in Zimbabwe's financial affairs, he added, presenting the new banknotes that will come in seven denominations

Zimbabwean monetary authorities have introduced a new currency replace the country's local bond note currency which is going to be phased out in the next 21 days.


Acknowledgement of Original Sources

News24, Editorial: “Zimbabwe ditches Zim dollar for new gold-backed currency called ZiG” READ HERE

SABC News, Video Clip: “Zimbabwe unveils a new currencyWATCH HERE


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