Zimbabwe launches gold-backed currency

Zimbabwe Gold, the country’s newest currency is set to be launched next Monday. It is expected to be introduced at a rate of 13.56 to the US dollar at a rate of 20 per cent, according to media reports. This is Zimbabwe’s sixth attempt to stem the collapse of the its currency, which has lost around 80 per cent of its value against the dollar and is the worst performing this year. CNBC Africa is joined by Batanai Matsika, Corporate Finance Specialist, SwitzView Wealth Management.
Fri, 05 Apr 2024 15:50:55 GMT