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detransthrowaway on scored.co
1 month ago7 points(+0/-0/+7Score on mirror)1 child
>now
This was in 2008. The current Zimbabwean dollar is the only currency in the world backed by gold. https://en.wikipedia.org/wiki/Zimbabwean_ZiG It's doing alright so far. Hurt by poor government decisions, but the inflation around the ZiG is nowhere near as bad as it was with the RTGS Dollar or the Fourth Zimbabwean Dollar.
It's since stabilised. It was 27ZiG:1USD in Oct. 2024, and 26.36ZiG:1USD in Nov. 2025. It'll be fine for the time being. It's not great, given the largest banknote available is 20ZiG or about 75 cents, but it's better than your money losing half its value every day.
This was in 2008. The current Zimbabwean dollar is the only currency in the world backed by gold. https://en.wikipedia.org/wiki/Zimbabwean_ZiG It's doing alright so far. Hurt by poor government decisions, but the inflation around the ZiG is nowhere near as bad as it was with the RTGS Dollar or the Fourth Zimbabwean Dollar.
"In the first year after its introduction, the ZiG lost half of its value."
Yeah, so not backed by gold or anything else.