look news india
Zimbabwe has introduced the world's newest currency. Zimbabwe has implemented a new currency to get out of the economic crisis. A new currency called Jig has started being introduced. This currency has replaced the old currency. Which has been affected by value erosion and loss of public confidence. Initially the jig was introduced in electronic form. But now people can use it in the form of banknotes and coins. This is an innovative effort to stop the southern African country's long-running currency crisis.
The government had previously floated different ideas for replacing the Zimbabwean dollar. Options included gold coins and a digital currency to curb inflation. ZIG is short for Zimbabwe Gold. And backed by gold reserves. However, people are not believing in it. Some government departments have refused to take it. The zigzag is the sixth currency that Zimbabwe has adopted following the collapse of the Zimbabwean dollar in 2009.
The ban on US dollar was lifted
To avoid this crisis, the US dollar was first given legal status. They were banned and later lifted. People are still refusing to take the gig. They still consider the US dollar safe. The government has banned some commercial centers such as gas stations from accepting jigs. Government offices like the passport department are also accepting US dollars.
The ban on US dollar was lifted
To avoid this crisis, the US dollar was first given legal status. They were banned and later lifted. People are still refusing to take the gig. They still consider the US dollar safe. The government has banned some commercial centers such as gas stations from accepting jigs. Government offices like the passport department are also accepting US dollars.
