ZiG/USD: Zimbabwe’s New Currency to Spur De-Dollarization, Vice President Says

Zimbabwe’s new currency is a step toward eventually abandoning the use of US dollars in the economy, Vice President Constantino Chiwenga said.

The ZiG was introduced on April 5 to replace the Zimbabwean dollar, after its frequent and rapid depreciation led the greenback last year to become the preferred currency for transacting. The US dollar is used in more than 80% of transactions in the southern African country.

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