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Zimbabwe has launched gold coins to be sold to the public in a bid to to tame runaway inflation that has further eroded the country's unstable currency. The central bank disbursed 2,000 coins to commercial banks on Monday. Companies with excess cash can find the coins useful to store value.
Trust in Zimbabwe's currency is low after people saw their savings wiped out by hyperinflation in 2008 which reached 5 billion, according to the IMF. The coins can be used for purchases in shops, depending on whether the shop has enough change.
Individuals and institutional buyers of Reserve Bank of Zimbabwe (RBZ’s) gold coins will be required to hold them for at least 180 days before
NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love.
NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love.