Central Banks
Zimbabwe Central Bank Says Usage of ZiG Has Doubled, Sunday Mail Reports
- ZiG usage is at 30% from 15%, nation’s central banker says
- Finance ministry plans measures to boost its use further
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The use of Zimbabwe’s bullion-backed currency has doubled since it was launched in early April, central bank Governor John Mushayavanhu told the country’s Sunday Mail newspaper.
The ZiG is now used in 30% of all transactions, compared with 15% on April 5, with the balance being done in dollars, he was quoted as saying. “There was no upsurge in foreign currency demand, rather there was a shift in product pricing ratio, with the ZiG now accounting for 30% of all transactions,” Mushayavanhu told the Harare-based weekly newspaper.