Zimbabwe illegal moneychangers back in streets after new currency launched

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A man poses with a handful of Zimbabwean dollars at a bank in Harare, Zimbabwe on June 15, 2015. PHOTO | REUTERS

Zimbabwe's illegal money changers are back on the streets after a brief hiatus following the introduction of a new gold-backed currency, the Zimbabwe Gold (ZiG).

Although the currency is still only available electronically as the new notes and coins are still under production, the money changers are offering slightly higher rates than the official one, which was $1 to 13.3437 ZiG on Wednesday, according to ZB Financial Holdings.