BY REUTERS
Zimbabwe’s gold-backed ZiG currency fell more than 40% against the U.S. dollar on the interbank market from Thursday to Friday, the central bank’s website showed.
The Reserve Bank of Zimbabwe’s website gave the mid rate for ZiG as 24.3902 to the dollar on Friday versus 13.9987 on Thursday, making it a 42.6% fall, according to Reuters calculations.
Bloomberg News earlier reported that the southern African country was said to have devalued the ZiG by 44% against the dollar, citing four treasury dealers.
ZiG, which stands for Zimbabwe Gold, started trading in April. It is the country’s sixth attempt at a stable currency in 15 years.