Africa-Press – Zimbabwe. The Reserve Bank of Zimbabwe Governor John Mangudya displays the newly introduced gold coin during a press conference in Harare, Zimbabwe, July 25, 2022. (Photo by Shaun Jusa/Xinhua)
The Reserve Bank of Zimbabwe Governor John Mangudya has unveiled gold coins that are expected to act as a store of value and reduce the demand for U.S. dollars as the country battles to control soaring inflation.
HARARE, July 27 (Xinhua) — The Reserve Bank of Zimbabwe Governor John Mangudya on Monday unveiled gold coins that are expected to act as a store of value and reduce the demand for U.S. dollars as the country battles to control soaring inflation.
“The Bank has today released the first batch of 2,000 Mosi-oa-Tunya (The Smoke Which Thunders) gold coins to the market. Local agencies commenced selling the gold coins on an agency basis at the initial price of 1,823.83 U.S. dollars per gold coin or 805,745.35 Zimbabwean dollars using the willing buyer willing seller selling rate as at Friday,” Mangudya told a press conference in Harare, the capital of Zimbabwe.
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