Jury still out over new ZiG currency

BUSINESS is happy to transact using the country’s new digital currency, ZiG, although questions abound over the tokens’ ability to reduce the local demand for US dollars.
This comes after the currency — backed by bars of physical gold held by the central bank, and whose full name is Zimbabwe Gold — became an approved means of payment for domestic transactions on Thursday last week.
The Reserve Bank of Zimbabwe (RBZ) first introduced physical gold tokens last year, with this latest initiative representing the next step in the ongoing triple quest to further stabilise the local currency and the economy, as well as to reduce the clout of the US dollar in the market.