Zimbabwe to introduce gold coins as local currency tumbles

Reserve Bank of Zimbabwe Will Start Selling Gold Coins Amid Sky-High Inflation, Currency Devaluation

The government of Zimbabwe has announced that it will issue gold coins in July, a move that is being viewed with skepticism by many local currency traders. The gold coin, which will be called “Mosi-Oa-Tunya,” will weigh one troy ounce and have a purity of 22 carats, the Reserve Bank of Zimbabwe said in a July 4 press release. Every coin will have a serial number and can be used as collateral security for loans and credit facilities. Coins will b…

Zimbabwe to introduce gold coins as local currency tumbles

Zimbabwe’s central bank said it would start selling gold coins this month as a store of value to tame runaway inflation, which has considerably wea

Zimbabwe to introduce gold coins as local currency tumbles

The central bank governor John Mangudya said in a statement on Monday that the coins will be available for sale from July 25 in local currency, U.S. dollars and other foreign currencies at a price based on the prevailing international price of gold and the cost of production.

Zimbabwe to mint gold coins to tackle rising prices

The south-east African country's annual inflation rate stood at more than 190% in June.

Zimbabwe introduces gold coins as local currency tumbles

Zimbabwe’s central bank said it would start selling gold coins this month to help tame runaway inflation.

Zimbabwe central bank to introduce 'gold coin' amid inflation crisis

“The gold coins will be available for sale to the public in both local currency and US dollars and other foreign currencies at a price based on the prevailing international price of gold and the cost production,” Central bank governor, John Mangudya