Zimbabwe to link exchange rate to hard assets, create currency board

HARARE – Zimbabwe is working on new measures to stabilise its local currency including linking the exchange rate to hard assets such as gold and creating a currency board, Finance Minister Mthuli Ncube said on Monday. The Zimbabwean dollar has fallen about 40 percent since the start of the year, hurt by increased foreign-currency demand from civil servants being paid December bonuses and weaker…

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