3/25/2024

Zimbabwe may back its currency with gold:

Zimbabwe may back its currency with gold in an effort to end exchange-rate instability, Finance Minister Mthuli Ncube said.


“In order to manage growth of liquidity, we may link the exchange rate to a hard asset such as gold,” the minister said in an online press briefing held Monday to announce a conference of African ministers that Zimbabwe will host at the end of this month.

https://www.bloomberg.com/news/articles/2024-02-12/zimbabwe-dollar-may-get-gold-backing-finance-minister-says

A street vendor counts out Zimbabwean 50 dollar banknotes in Harare.

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