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6.8K views · 127 reactions | Zimbabwe has introduced a new gold-backed currency which the central bank hopes will bring stability to the country’s economy. But economists and ordinary Zimbabweans have their doubts. | TRT World | Facebook
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6.8K views · 127 reactions | Zimbabwe has introduced a new g…
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FacebookTRT World
In recent months, Zimbabwe has turned to a gold-backed currency called the ZiG (short for Zimbabwe Gold). With gold reaching new highs this year, this new currency should be appreciating in value. However, much of the value of these new currencies is contingent upon a trust factor of those who manage it. With the confidence in ZiG already eroding, owning physical gold directly proves to be a better hedge against currency devaluation than any "gold-backed" option. #gold #zimbabwe #ZiG #goldbacked
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