Zimbabwe Launches New Gold-Backed Currency 'ZiG' to Stabilize Economy

• Zimbabwe has introduced a new currency called the ZiG (Zimbabwe Gold) backed by gold reserves • ZiG replaces the RTGS dollar that had lost significant value due to high inflation • ZiG denominations range from 1 to 200 units. Coins also introduced due to shortage of US coins • Central bank promises to maintain currency value and not allow overprinting like in 2008 • Launch comes as Zimbabwe faces economic crisis - drought, water shortages, inflation over 50%