×
App Icon
The Standard e-Paper
Read Offline Anywhere
★★★★ - on Play Store
Download Now

Zimbabwe's new currency suffers chaotic start

Vocalize Pre-Player Loader

Audio By Vocalize

Zimbabwe's new currency - the ZiG (Zimbabwe Gold). [AFP]

Zimbabwe's new gold-backed currency got off to a chaotic start with shops accepting only US dollars on Tuesday and vexed Zimbabweans queuing up outside banks for hours to access their savings.

The ZiG - short for Zimbabwe Gold - officially started trading on Monday, just days after it was announced it would replace the Zimbabwean dollar, which has tumbled in value over the past year, pushing inflation through the roof.

Premium Article

Get Full Access for Ksh299/Week.

Fact-first reporting that puts you at the heart of the newsroom. Subscribe for full access.
Continue Reading  →
What you get
  • Unlimited access to all premium content
  • Ad-free browsing experience
  • Mobile-optimised reading
  • Weekly newsletters & digests
Pay via
M - PESA
VISA
Airtel Money
Secure Payments Kenya's most trusted newsroom since 1902
Financial Standard
Borrowing spree: How expensive loans have pushed debt servicing to Sh862b
Financial Standard
How Kenya's green energy revolution is attracting global climate capital
Financial Standard
How Lapfund's mega development redefines Nairobi, tests infrastructure
Business
Lamu refinery eyes Africa's 86 million tonnes fuel import gap