ZiG, Zimbabwe’s new currency, began trading on Monday as businesses struggled with the nation’s sixth attempt at introducing a revamped unit.
Reserve Bank Governor John Mushayavanhu set the introductory exchange rate of 13.56 per US dollar for the ZiG, short for Zimbabwe Gold, where it started trading. The interbank market will set the daily exchange rate from now on, Mushayavanhu said during an April 5 presentation of the monetary policy statement.
