HARARE - Zimbabwe is considering backing its currency with gold in a bid to stabilize it, the finance minister said on Monday.
Last week President Emmerson Mnangagwa said officials were working on a “structured currency” to manage exchange rate volatility.
The Zimbabwean dollar has slumped by about 40% since the start of the year due to increased foreign currency demand and weaker commodity prices denting inflows.
The authorities have repeatedly tried to rescue the Zimbabwe dollar following its reintroduction in 2019, a decade after it was scrapped due to hyperinflation.
