Zimbabwe’s ZiG Weakens to Lowest Level Since Launch

ZiG records its largest decline since trading began on April 8
South Africa is nation’s largest trading partner in the region

A cashier dispenses the new $10 ZiG, short for Zimbabwe Gold, banknote from a till as change in Harare on April 30. — A cashier dispenses the new $10 ZiG, short for Zimbabwe Gold, banknote from a till as change in Harare on April 30.
Photographer: Jekesai Njikizana/AFP/Getty Images

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By Ray Ndlovu

May 6, 2024 at 9:17 AM UTC

This article is for subscribers only.

Zimbabwe’s gold-backed ZiG currency has weakened to its lowest level against the US dollar since it was launched a month ago.

The currency is trading at 13.67 to the dollar, according to data posted Monday on the Reserve Bank of Zimbabwe’s website, a decline of 0.8% from its first day of trading at 13.56 per dollar on April 8.