Harare, Zimbabwe — Zimbabwe's recently introduced gold-backed currency is sliding on the local black market but officials insist the currency is getting stronger and has a bright future. Columbus Mavhunga reports from Harare.
Even songs are played on the radio encouraging citizens to embrace the currency, called Zimbabwe Gold — or ZiG — introduced on April 5 trading at 13.56 to the U.S. dollar.
Official statistics say ZiG is now trading at 13.41. But on the black market it is around 20.
Chamunorwa Musengi, a street vendor in Harare, is not optimistic about the new currency which for the moment is trading electronically, with notes and coins coming into circulation on April
webdesk@voanews.com (Columbus Mavhunga)
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