zimbabwe to link exchange rate to hard assets create currency board

Zimbabwe To Link Exchange Rate To Hard Assets, Create Currency Board

8 Days(s) Ago    👁 57

Zimbabwe is working on new measures to stabilise its local currency including linking the exchange rate to hard assets such as gold and creating a currency board, Finance Minister Mthuli Ncube said on Monday.

The Zimbabwean dollar has fallen about 40% since the start of the year, hurt by increased foreign-currency demand from civil servants being paid December bonuses and weaker commodity prices denting inflows.