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Zimbabwe Gold
The Zimbabwe Gold (ZiG; code: ZWG) is the official currency of Zimbabwe since 8 April 2024, backed by US$629 million worth of hard assets: foreign currencies, gold, and other precious metals. It replaced the Zimbabwean dollar, which suffered from rapid depreciation, with the official exchange rate surpassing 30,000 Zimbabwean dollars per U.S. dollar on 5 April 2024, whilst the parallel market rate reached 40,000 per U.S. dollar. Prior to the introduction of the ZiG, annual inflation in Zimbabwe hit 55.3% in March 2024. The ZiG is notionally divided into 100 cents, which were first used by the Zimbabwe Stock Exchange before the currency had an ISO code. Cents were officially recognized by the Reserve Bank of Zimbabwe when a currency code for the Zimbabwe Gold was introduced in June 2024. However, the smallest coin is a 1 ZiG. Although the rate of devaluation of the ZiG may vary, the ZiG has consistently lost value since its introduction, and its long-term prospects are dim so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cent (currency)
The cent is a monetary unit of many national currencies that equals a hundredth () of the basic monetary unit. The word derives from the Latin , 'hundred'. The cent sign is commonly a simple minuscule (lower case) letter . In North America, the c is crossed by a diagonal or vertical stroke (depending on typeface), yielding the character . The United States one cent coin is generally known by the nickname "penny", alluding to the British coin and unit of that name. Australia ended production of their 1c coin in 1990, New Zealand last produced their 1c coin in 1988, as did Canada in 2012. Some Eurozone countries ended production of the 1 euro cent coin, most recently Slovakia in 2022. Symbol The cent may be represented by the cent sign, written in various ways according to the national convention and font choice. Most commonly seen forms are a minuscule letter ''c'' crossed by a diagonal stroke, a vertical line, a simple ''c'', depending on the currency (''see below' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Mushayavanhu
John Mushayavanhu is a Zimbabwean central bank governor and former FBC Holdings Limited CEO. In 1997, Mushayavanhu joined FBC Bank as an executive director in the corporate banking division. In March 2024, he was appointed Governor of the Reserve Bank of Zimbabwe by President Emmerson Mnangagwa to replace John Mangudya. Early life and education John Mushayavanhu was born in Zimbabwe, though specific details about his date of birth and early life are not publicly available. He holds a diploma in management from Henley Management College, United Kingdom, a master's degree in business administration from Brunel University, United Kingdom, and a doctorate in business administration from Binary University, Malaysia. Career Mushayavanhu began his career in the financial sector in the 1980s, accumulating over 30 years of experience. He held senior positions at Standard Chartered Bank before joining FBC Bank in October 1997 as an executive director in the Corporate Banking Divisio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2024 Establishments In Africa
4 (four) is a number, numeral and digit. It is the natural number following 3 and preceding 5. It is a square number, the smallest semiprime and composite number, and is considered unlucky in many East Asian cultures. Evolution of the Hindu-Arabic digit Brahmic numerals represented 1, 2, and 3 with as many lines. 4 was simplified by joining its four lines into a cross that looks like the modern plus sign. The Shunga would add a horizontal line on top of the digit, and the Kshatrapa and Pallava evolved the digit to a point where the speed of writing was a secondary concern. The Arabs' 4 still had the early concept of the cross, but for the sake of efficiency, was made in one stroke by connecting the "western" end to the "northern" end; the "eastern" end was finished off with a curve. The Europeans dropped the finishing curve and gradually made the digit less cursive, ending up with a digit very close to the original Brahmin cross. While the shape of the character fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2024 In Zimbabwe
Events of 2024 in Zimbabwe. Incumbents * President: Emmerson Mnangagwa * Vice President of Zimbabwe, Vice President ** Constantino Chiwenga Events January * 6–18 January – Zimbabwean cricket team in Sri Lanka in 2023–24 March * 4 March – The United States imposes sanctions on President Emmerson Mnangagwa, his wife Auxillia Mnangagwa, Vice President Constantino Chiwenga and 11 other Zimbabwean individuals and entities for involvement in human rights abuses, corruption, and minerals smuggling. April * 3 April – President Emmerson Mnangagwa declares a state of national disaster due to a drought that wipes out half the country's maize crop. * 5 April – The Reserve Bank of Zimbabwe introduces the Zimbabwe Gold (ZiG) as the country's new currency to replace the Zimbabwean dollar as from 8 April. August * 17 August – The Southern African Development Community holds its first summit in Harare in a decade. October * 14 October – The first two cases of m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Zimbabwe
The economy of Zimbabwe is a gold standard based economy. Zimbabwe has a $44 billion dollar informal economy in PPP terms which translates to 64.1% of the total economy. Agriculture and mining largely contribute to exports. The economy is estimated to be at $73 billion at the end of 2023. The country has reserves of metallurgical-grade chromite. Other commercial mineral deposits include coal, diamonds, lithium, asbestos, copper, nickel, gold, platinum and iron ore. After winning its independence from the United Kingdom in 1980, Zimbabwe has had a tumultuous economy, going from Africa's breadbasket to a country where, as of March 2025, over one-third of its population is facing food insecurity. The sweeping impact of land reform In 2000, Zimbabwe launched a controversial land reform that, over the next decade, would seize about 6,000 large, white-owned farms and convert them into over 168,000 black-owned farms. Many of the new occupants, mainly consisting of landless black ci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Introduced In 2024
A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term ''currency'' appear in the respective synonymous articles: banknote, coin, and money. This article uses ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in Real versus nominal value (economics), real demand for goods and services (also known as demand shocks, including changes in fiscal policy, fiscal or monetary policy), changes in available supplies such as during energy crisis, energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bullion Coin
A bullion coin (also known as a specie) is a coin struck from highly refined precious metal (bullion) and kept as a store of value or an investment rather than used in day-to-day commerce, or collectable, with numismatic value beyond that of its metal content. A bullion coin is distinguished by its weight (or mass) and fineness on the coin. Unlike rounds, bullion coins are minted by government mints and have a legal tender face value. Bullion coins can have fineness ranging from 91.9% (22 karat) to 99.99% purity (24 karat). In the United Kingdom coins deemed to be investment coins are exempt from value-added tax (VAT) on transactions. A coin is considered to be an investment coin if it was minted after 1800, and at least 900 thousandths fine, and has been legal tender in its country of origin, and not normally sold at more than 180% of the value of its precious metal content; or if it is on a long list of coins deemed to be investment coins. This Web page links to the current list ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mosi-oa-Tunya (coin)
The Mosi-oa-Tunya ( English: ''The Smoke Which Thunders'') is a gold coin introduced in Zimbabwe in 2022 in the context of rising inflation. Nomenclature and characteristics ''Mosi-oa-Tunya'' is the Lozi name for Victoria Falls and translates into the English language as ''The Smoke Which Thunders''. The coins weigh one troy ounce and are made of 22 carat gold. They were minted outside of Zimbabwe. Each coin has a unique serial number. Use The Reserve Bank of Zimbabwe distributed 2,000 Mosi-oa-Tunya to commercial banks on 25 June 2022. They can be used for normal retail purposes. The coins were introduced in the context of instability with existing local currency and Zimbabweans' tendency to use the U.S. dollar. Value The coins are worth the international market rate for a troy ounce of gold, plus five percent. See also * Economy of Zimbabwe * Zimbabwean bond notes * Zimbabwean bond coins * Zimbabwe Gold * Mosi-oa-Tunya National Park * Zimbabwean dollar * Kruge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Bar
A gold bar, also known as gold bullion or a gold ingot, is a quantity of refined metallic gold that can be shaped in various forms, produced under standardized conditions of manufacture, labeling, and record-keeping. Larger varieties of gold bars, produced by casting molten metal into molds, are called ingots. Smaller bars are often created through minting or stamping from rolled gold sheets. Central banks typically hold the standard Good Delivery gold bar in their gold reserves and it is widely traded among bullion dealers. Additionally, the kilobar, weighing , and the gold bar are popular for trading and investment due to their more manageable size and weight. These bars carry a minimal premium over the spot price of gold, facilitating small transfers between banks and traders. While most kilobars have a flat appearance, a preference for brick-shaped bars exists among some investors, particularly in Europe. Types Gold bars are classified based on their production pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
