[New Zimbabwe] Zimbabwe's central bank governor claims the local currency is undervalued and could be worth twice its current market price based on reserves and gold backing. The currency, ZiG, is the country's sixth attempt in 15 years to stabilize its currency and is backed by 2.5 tons of gold and $100 million in foreign reserves. Despite efforts at stabilization and reduced inflation, over 90%
Zimbabwe: Zimbabwe's Currency Deeply Undervalued - Says Central Bank Governor
AllAfrica Business·AllAfrica Business··1 min read
A
Continue reading on AllAfrica Business
This article was sourced from AllAfrica Business's RSS feed. Visit the original for the complete story.