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Efforts Underway To Strengthen ZiG Currency - VP Chiwenga

6 months agoThu, 05 Sep 2024 06:20:07 GMT
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Efforts Underway To Strengthen ZiG Currency - VP Chiwenga

Vice President Constantino Chiwenga said that the government is monitoring financial market activities to identify ways to strengthen the Zimbabwe Gold (ZiG) currency, which has been losing value on the parallel market in recent months.

Currently, fuel service stations do not accept ZiG, and supermarkets and wholesalers are relying on street rates when selling goods in the local currency.

Speaking at the burial of national hero (Retired) Brigadier General Shadreck Ndabambi at the National Heroes Acre in Harare on Wednesday, September 4, Chiwenga, who is serving as Acting President, said the government is implementing measures to encourage the wider use of the ZiG. Said Chiwenga:

No nation will develop without sovereign control, defence and growth of its own national currency. Our government introduced the Zimbabwe Gold as our new sovereign currency.

It is our responsibility as a nation to embrace and protect the new currency as a bedrock and anchor of our economic development.

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Let me assure you that government is working to promote the wider use of our local currency and is putting in place measures that will eliminate gaps that are creating arbitrage opportunities in the exchange market.

Government will continue to monitor the operations of our financial markets and promote efforts to grow and stabilise our national currency.

The Reserve Bank of Zimbabwe (RBZ) introduced the Zimbabwe Gold (ZiG) currency in April, following the collapse of the Zimbabwe dollar (RTGS and bond notes).

Just five months later, the new currency has experienced significant depreciation, now trading at US$1 to ZiG24 on the parallel market. At the time of its launch, the ZiG was valued at US$1 to ZiG13.50.

More: Pindula News

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37 Comments

Anonymous · 6 months ago
ZiG price check....a big supermarket and the price of Mazoe Orange. Supermarket rate has been approx ZiG14.70 for about six weeks. 6 weeks ago, Mazoe was ZiG66. Last week it was ZiG87. Yesterday's price is ZiG120. The price has gone from approx US$4.5, to $6 to $8.20? Even at the street rate of approx ZiG20, that is $6, when you can buy the same product for $4 at small shops? Mmmmm....
was · 6 months ago
zvarinenge ringorine simba muradio tv and newspaper chete kkkkk
Tapiwa Mahachi · 6 months ago
kkk
Haaaaai · 6 months ago
Washaya mazwi here ekuwiga nawo dindinya rako iro, ndichataura zvema banana pazuva rako kunjanja. Dai watotaura kuti hakuna third term pahutongi zvisinei ne Humhondi, hudzvanyiriri hwamunoita nhasi. Waizoti ndini gunners ndakaaisa Robert ainetsa zvino vene vezuro I one kick one goooooooooo!!!!!!! 2028 ndopinda wo in kostandine. Ndo kupedza masports aidzoka a uda kare
vene 2 · 6 months ago
thank you Sir
Anonymous · 6 months ago
yakabhekewa nogoridhee!! kkkkk
Anonymous · 6 months ago
nyika haiitwe zvenharo nayo genroll, mati madii henyu munobweka chete
Corruptmore Looto · 6 months ago
🤣🤣🤣 How is the useless tissue money doing, rega hedu titofanire kutsvaga rimwe zita for the next useless currency to be introduced by Zanu. COMMAND ECONOMICS WILL NEVER WORK
halalaraaa · 6 months ago
lro zig racho rino strengthenwa nemuromo here kana kuti rinofanira kuzvimirira roga zvinoita mari yekune dzimwe nyika
cool · 6 months ago
if you want to embrace my zig, can i come and change it with you into USD cash from you at 13.whatever ?
Anonymous · 6 months ago
ZIMGOLD - plenty in the supermarket fridges
OkTmSparCheckers · 6 months ago
Iwe cooking oil hayigari muFridge
ttrruummpp · 6 months ago
Zimgold inogadzira Margarine futi
Anonymous · 6 months ago
Genarari maiti ma money changer ndo dambudziko ezvino makuona kuti same mistake repeated structural issues still not addressed since Bob's time
Chibaba · 6 months ago
I told you since April that Zig is useless. The government should just remove this Zig and make smaller coins denominations as change.
Trababla · 6 months ago
Zvineiko nemufi izvii
pabric toiret · 6 months ago
haa, the general is flogging a dead horse. it won't work. simpuru
44yrs · 6 months ago
Underway to strengthen the strongest currency in the region oh i don't want peace i want problems kkkkkk
Tetes · 6 months ago
Jenerari ngavazive zvekuvatana naMiniyo. Tiri kuda vana isu kwete kuswerowawata zvemaZiggy zvavasingagobne
Anonymous · 6 months ago
If it was a sovereign currency, it wouldn't have been given to Neville, whilst the people get none of it. The only way that this currency can be sovereign is if it is given to the economy and not politicians. I think we all know what measures of "encouragement" will be used to force people to devalue their savings, whilst politicians live in luxury on our savings.
🏃 Chi baby Che Zanu 🌊 · 6 months ago
we oro know that zig wiru not change our economy it's stu.pid to pin our hopes on zig apana apana we are going to punish all those piporo who are undermining our zig be warned
Patz · 6 months ago
AnaChiwenga ndozvichakutadzisai kuhunanzva huPresident kungoita chandagwinyira pazvinhu zvakafa. Chakamboita kuti Zim currency ife in 2008 makazochigadzirisa here
M**** · 6 months ago
Erudite uripi?
Deliwe · 6 months ago
Nhai maGold Coins achiripo gere ? Ini handisati ndamboribata kana kuriwona zvangu 🙆‍♀️
Deliwe · 6 months ago
****here
Sir African · 6 months ago
The general has been reduced to an undertaker.That is why Malema said from being a powerful man he has been reduced to a weakling.
DJ · 6 months ago
siyanai naro zig Jenarari munofa neBp tichiri kukudai
HiLLBiLLIES VOLkSWAGEN 0774857233 · 6 months ago
ZIMBABWE NGAINGOBATANE NESOUTH AFRICA SINCE WE SHARE EVERYTHING AND ALREADY SO CLOSED IZVI ZVANA ZiG DZAANGANO HAPANA KANA ARIKUMBODA KUZVINZWA .... VANHU VARIKUDA MA US$ DOLLARS NEMA RANDS CHETE .... KANA ZVIRI ZVEMABASA AND FOOD UDZAI HURUMENDE KUTI DONT WORRY YOURSELF ABOUT US .... TAKUITA MABASA EMAOKO TICHIRARAMISA MHURI
Patz · 6 months ago
Zvagara unofficially USD and Rand ndozvirikushanda wani. In Beitbridge, Gwanda and Bulawayo Rand is their local currency. ZiG haiwaniki ende hapana anotomboida. MaZig anongohorwa nema civil servants woenda kwa Spar, Tm or Ok. Black market wanongochinjanisa Rand and USD
Anonymous · 6 months ago
Kana opposition ikavaudza vanoomesa gotsi for the sake of opposing. Maiti kurima hakunetsi muchiti gejo munaro muchiti mombe hamushai. Akaimba Thomas Mapfumo.
Trababla · 6 months ago
Kwapera makore mangani, vakuru woye Ona takamirira zvamakataura Maiti kurima inyore muchiti kurima hakunetsi
· 6 months ago
Aha! So this is an admission that not all is well with ZiWiG! All along these ostriches (with their heads the sand) were saying ZiWiG is a strong currency. So it's now admitted that the ZiWiG has lost value by almost 100% since April!!!! from 13.6 to 24!!! Even the Bond's record of devaluation has been eclipsed by ZiG!!! Go ZiWiG Goooo .... Break new records.... 🤣🤣🤣🤣🤣 If it was strong, would there be need to strengthen an already strong currency?
Anonymous · 6 months ago
Yes!!!! Build barricades gainst all evil. Consult prophets like Makandikwa and Java. Good luck!!! KKKKKK Beer economics!!!!!!????????????????

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