Focus Keyphrase: History of Zimbabwe Gold ZiG
📝 Intro
The history of Zimbabwe Gold (ZiG) began in 2024 as a bold attempt to restore faith in a currency system haunted by hyperinflation. Pegged to gold and foreign reserves, the ZiG replaced the ZWL in a historic monetary reset.
🇿🇼 What Is ZiG?
ZiG (Zimbabwe Gold) is a gold-backed digital and physical currency introduced in April 2024.
1 ZiG is backed by a basket of gold and foreign currency reserves — aiming to create real, stable value.
🔁 Why Replace the ZWL?
The ZWL (Zimbabwean Dollar) had:
- Lost 90%+ of value in a year
- Triggered black market chaos
- Lost all public trust
The Reserve Bank of Zimbabwe needed a new anchor — gold.
📊 How ZiG Works
- Pegged to the value of gold per gram
- Traded through bank and mobile platforms
- Designed to float within a tight corridor backed by reserves
💡 Did You Know?
Zimbabwe is one of the few countries globally to introduce a gold-backed currency in the 21st century.
❓ FAQs
Q1: Can you trade ZiG internationally?
A: Not yet. It’s only legal tender within Zimbabwe.
Q2: Is ZiG actually backed by gold?
A: Yes, according to the Reserve Bank — though public trust remains cautious.