Search results for 'Currency devaluation'
Zimbabwe
Gold Exports Plummets Amid Mounting Forex, Currency Crises

Zimbabwe's gold exports decreased from 23.6 kilograms in March to 20.8 kilograms in April according to the latest data released by ZIMSTAT. This marks a continued decline in gold's dominance as the co

May 30, 2024
Zimbabwe
ZiG's Harrowing Dance with Devaluation: Exposing Cracks in Currency Reserves

The embattled ZiG, a currency embroiled in a fierce battle for survival, has found itself in a perilous state, trading at an alarming rate of 13.7689 against the mighty U.S. dollar on July 24th, 2024

Jul 25, 2024
Zimbabwe
Exports Trade Mix: Gold Lose Lustre, Nickel Mattes Gain Ground

Zimbabwe's gold exports for June 2024 remained the top export, but fell to 30.5% according to data released by the country's statistics agency, ZIMSTAT. This is down from a higher of 42.8% in May, a

Jul 29, 2024
Zimbabwe
From Promise to Precipice: Gvt Finally Devalues ZiG

Zimbabwe Economy, Currency Devaluation, ZiG Collapse, Economic Instability, Fiscal Discipline, Monetary Policy, Currency Stability, Zimbabwe Gold (ZiG), African Economics, Emerging Markets.

Sep 27, 2024
Zimbabwe
John's Curse 2:ZiG Drops to ZiG26, PMR Hits 40, Gold-Backed No More?

Zimbabwe's local currency, Zimbabwe Gold (ZiG), has taken a worrying plunge to ZiG26.0692 against the US dollar, continuing its downward spiral. Last week, it traded at ZiG25.3578 on October 4, 2024,

Oct 10, 2024
Zimbabwe
ZiG Transaction Limits Get a Boost, But Will It Be Enough?

The Reserve Bank of Zimbabwe (RBZ) has increased transaction limits for Zimbabwe Gold (ZWG) as per its latest circular. This adjustment follows a significant 43% devaluation of the ZWG in the week to

Nov 02, 2024
Zimbabwe
ZiG Continues Downward Trend as November Opens

The Zimbabwe Gold (ZiG) has demonstrated a continued suboptimal performance, declining to 28.6829 on November 1, 2024, from 27.44, marking a significant week-on-week decrease. This downturn represent

Nov 04, 2024

Top Stories

A Looming Dark Christmas: Zimbabwe's Power Sector in Shambles

Zimbabwe is likely to face a dark festive season due to persistent power outages. The continued nationwide blackouts and inadequate power generation, which fails to meet demand, support this predicti

Dec 18, 2024

Zimbabwe Achieves Wheat Self-Sufficiency Setting New Record: A Closer Look

Zimbabwe's agricultural sector has achieved a landmark milestone, with the country's wheat harvest reaching an unprecedented 563,961 metric tons (MT) as of the latest update. This is according to the

Dec 18, 2024

Drought Threatens Regional Power Supply: What Lake Cahora Bassa's Water Level Erosion Means for Zimbabwe

Zimbabwe's struggles with power challenges have extended beyond its borders, affecting one of its key electricity import sources. The Cahora Bassa dam in Mozambique's Tete province has reached a crit

Dec 17, 2024

Tanganda Returns to Profitability as Avocado ,Tea Booms

Tanganda Tea, a company listed on the Zimbabwe Stock Exchange (ZSE), has made a remarkable turnaround, recording a profit after tax of USD1.4 million for the year ended 30 September 2024. This is a si

Dec 16, 2024

Zimbabwe's Power Supply Plummets to Lowest Level in Over 12 Months

Zimbabwe's power generation has plummeted to its lowest level in over 12 months, with daily electricity production hitting a dismal 736 MW on December 16. This marks a new low for 2024, surpassing the

Dec 16, 2024

Zimbabwe’s Electricity Import Bill Jumps 45% in Q3

The Zimbabwe National Statistics Agency (Zimstat) has revealed a significant 45% uptick in electricity imports, with the country bringing in 611.1 gigawatt-hours (GWh) during the third quarter of 2024

Dec 16, 2024

Government Seeks Bigger Slice of Mining Pie: Is the 26% Proposed Stake Feasible?

Last week, in an interview with global media outlet Bloomberg, the government hinted at plans to introduce a 26% shareholding in all future mining projects and also negotiate with the already settled

Dec 16, 2024

28 Zimbabwe-Linked Gold Mafia Members Placed on U.S. Sanctions

The United States and United Kingdom have imposed stringent sanctions on individuals implicated in gold smuggling and money laundering operation based in Zimbabwe, effective December 9, 2024.

Dec 10, 2024