Zimbabwe’s central bank has pledged to intensify efforts against those undermining the nation’s gold-backed currency, the ZiG, which has seen a sharp decline on the parallel market. While the ZiG is trading at 13.94 per US dollar on the official market, it’s quoted between 16 and 26 on the unofficial market.

In an emailed response to Bloomberg’s questions, Governor John Mushayavanhu blamed “unscrupulous traders” for distorting exchange rates and vowed to enforce currency regulations more strictly. He emphasized the central bank’s commitment to restoring credibility and curbing exchange rate fluctuations.