several levels of prices, for which ZiG could be both, depending on the weight of its gold reserve. Thus, one can buy 1 ounce of ZiG for $1,910 and 0.1 ounce for $191. According to the Bank, on Sept. 28, investorsthe equivalent of 17.65 kg in ZiG, paying with both Zimbabwean and American dollars. The total amount of ZiG, sold since the previous rounds of digital token sales, stands at around 350 kg of gold.
Zimbabwe has grappled with currency instability and rising inflation for more than a decade. In 2009, the nation adopted the U.S. dollar as its official currency in response to a period of hyperinflation that had rendered the local currency practically worthless. In an attempt to revitalize the domestic economy, Zimbabwe reintroduced its own currency in 2019. However, this move was followed by a resurgence of currency volatility.
Source: News Formal (newsformal.com)
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