By Ray Ndlovu
Bloomberg News
Friday, July 4, 2025
Zimbabwe's gold-backed ZiG posted its best single-day gain against the dollar this year, boosted by surging bullion output and improved foreign currency reserves.
The currency strengthened 0.2% today to trade at 26.89 against the dollar, according to data posted on the central bank’s website. That is only its 12th day of appreciation against the U.S. currency this year.
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Gold output climbed almost 46% to 20,104 kilograms in the first six months of the year, the nation’s sole bullion refinery, Fidelity Refineries said in a statement today. In June it jumped 63% compared with a year earlier. The rise has bolstered foreign reserves threefold, according to the central bank. ...
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