Zimbabwe to introduce gold coins as local currency tumbles
23 Articles
23 Articles
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
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 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
Coverage Details
Bias Distribution
- 35% of the sources are Center, 35% of the sources lean Right
To view factuality data please Upgrade to Premium