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Zimbabwe’s Reserves Backing the ZiG Currency Rise to $629 Million - BLOOMBERG
BY By Ray Ndlovu
Gold and foreign currency reserves backing Zimbabwe’s bullion-linked unit have risen more than twofold since its introduction a year ago, central bank Governor John Mushayavanhu said.
The reserves stood at $629 million at the end of March, compared with $276 million end-April 2024, Mushayavanhu said in a statement at the weekend. They are sufficient to cover the entire ZiG deposits in the banking sector, “pointing to the sustained stability of the ZiG,” he said.
