First published by Money Metals Exchange here: https://www.moneymetals.com/news/2024/09/30/zimbabwe-already-devaluing-gold-backed-currency-003499
<p><img src='https://www.moneymetals.com/uploads/content/Zimbabwe-Already-Devaluing-Gold-Backed-Currency.jpeg'/></p>In April, Zimbabwe introduced a gold-backed currency in an effort to stabilize the country’s financial system. Less than six months later, the Reserve Bank of Zimbabwe has already devalued the new money.