Zimbabwe’s ZiG Currency Hits Longest Losing Streak Against Dollar
- Sellers of dollars are insufficient at FX interbank market
- Gold-backed unit is yet to make gains to the dollar this month
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Zimbabwe’s bullion-backed currency is experiencing its longest run of losses against the dollar since it started trading on April 8.
The ZiG, short for Zimbabwe Gold, fell for a ninth consecutive day on Tuesday because of a shortage of dollars caused by a lack of sellers in the interbank market as the new currency takes hold.