Zimbabwe to ease currency reins and allow free-float of ZiG

Zimbabwe wants its gold-backed currency to float freely on the foreign exchange market, the central bank's deputy governor said, though he declined to spell out when this would happen.

"The idea is to have price discovery that is not interfered with by administrative measures," Innocent Matshe said Wednesday in an interview in Bulawayo, the nation's second-biggest city.

"The endgame is a floating exchange-rate which is free from interference."