Zimbabwe to Shift to Gold-Backed Currency as Dollar Falters
Thursday, 4 April 2024, 17:00
Zimbabwe to Introduce Gold-Backed Currency
In a strategic move to stabilize its economy amidst the dollar crisis, Zimbabwe is planning to launch a gold-backed currency.
Residents Opting to Store Cash at Home
Many in the southern African country prefer to keep their money at home, reflecting a lack of faith in the existing monetary system.
- Implementation of gold-backed currency to address dollar devaluation
- Residents' behavior indicative of lack of confidence in current financial setup
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