The Reserve Bank of Zimbabwe (RBZ) says reserves underpinning the Zimbabwe Gold (ZiG) currency have risen by almost 9%, reaching $980 million.
According to Nebson Mupunga, the RBZ’s Director of Economic Research, Modelling and Policy, the growth in reserves places the central bank firmly on track to meet several key conditions required for a future mono-currency system, as outlined in Statutory Instrument 218 of 2023.
Mupunga added that the bank is aiming to push reserves to the $1 billion threshold by the end of the year, a target officials say is crucial for strengthening confidence in the ZiG and ensuring long-term currency stability.
–ChannelAfrica–
