freebingonodepositwinrealmoney| plunged 99.95%! Erase the 330% increase this year
Zimbabwe's stock market tumbled 99%. To rescue the collapsing exchange rate, the Central Bank of Zimbabwe issuedFreebingonodepositwinrealmoneyThe new currency "ZiG" replaces the original currency with an initial exchange rate of 13.Freebingonodepositwinrealmoney. 56 yuan to 1 US dollar. However, since the launch of ZiG, Zimbabwe's stock market has plummeted 99%.Freebingonodepositwinrealmoney.95%, wiping out the 33% increase so far this year.
Before the crash, local investors bought stocks to avoid local currency instability and high inflation. When launching the "ZiG", the governor of the Central Bank of Zimbabwe said that the introduction of a new monetary policy plan would achieve the stability, simplicity, certainty and predictability of the currency, and hoped that everyone would help make the currency work. In fact, however, locals prefer to trade and save in US dollars, which will be converted into US dollars as soon as they get Zimbabwe dollars. "ZiG" is the sixth generation currency issued in Zimbabwe, which aims to stabilize the country's economy and restore market confidence in the currency.
However, the Zimbabwean government has been slow to announce the amount of gold reserves that support ZiG, and the market has questioned that the amount of gold reserves is not enough to support months of spending. Trading volume in Zimbabwe has fallen sharply since the launch of ZiG, while the stock market has fallen 99.5 per cent. Although "ZiG" is a gold standard currency, most people are uncertain about its value. CEO, the Zimbabwe Stock Exchange, said that people are not sure how to assess the value of "ZiG", which is also one of the reasons for the decline in trading volume.
Key words Zimbabwe stock market plunge, Zimbabwe central bank issued new currency, Zimbabwe central bank gold reserves are bearish (bearish) Zimbabwe stock market tumbled 99.95%, erasing 33% gains so far this year. Attention? just now! It plummeted by 99%, a complete collapse! Risk Tip of Hexun self-selected WriterFreebingonodepositwinrealmoneyThe above content is only the views of the author or guest, does not represent any position of Hexun, and does not constitute any investment suggestions related to Hexun. Before making any investment decision, investors should consider the risk factors related to investment products according to their own circumstances and consult professional investment advisers if necessary. Hexun tries its best but cannot confirm the authenticity, accuracy and originality of the above content, and Hexun does not make any guarantee or commitment.