Zimbabwe's currency is undervalued by nearly half

Zimbabwe's currency is undervalued by nearly half
Published: 13 hours ago
Zimbabwe's currency is undervalued by almost half, the governor of the central bank said, pointing to the foreign reserves and gold that back the unit.

"If we wanted to buy back all the local currency that is in the market using the reserves that we have, we could do that at an exchange rate of around 15" to the dollar, John Mushayavanhu said on Friday.

The Zimbabwe Gold currency, known as the ZiG, trades at 25 to 28 to the greenback.

- Bloomberg
Tags: ZiG,

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