Markets' reaction to Zimbabwe's gold-backed currency

Earlier this month Zimbabwe introduced the new currency that is short for Zimbabwe Gold. It’s an effort to stabilize the volatile exchange rate. .. In 2008 the official rate of inflation reached 500 billion percent. To get things back under control, Zimbabwe adopted the US dollar for more than a decade before switching back to Zimbabwean dollars in 2019. High inflation can wipe out people’s earnings because what they can buy with their stable salary changes month to month. Inflation is soaring again and it hit 55% in March. Courtesy #DStv403