Zimbabwe’s new gold-backed currency suffers chaotic start
Harare. (Timothy Marks/Getty)
Zimbabwe’s new gold-backed currency got off to a chaotic start with shops accepting only US dollars on Tuesday and vexed Zimbabweans queuing up outside banks for hours to access their savings.
The ZiG – short for Zimbabwe Gold – officially started trading on Monday, just days after it was announced it would replace the Zimbabwean dollar, which has tumbled in value over the past year, pushing inflation through the roof.
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