Zimbabwe to issue gold coins as legal tender

Zimbabwe’s central bank says it will start selling gold coins later this month.

This comes as a way to protect people against spiralling inflation.

Central Bank Governor John Mangudya said the 22-carat coin would be named the Mosi-oa-tunya, the Zimbabwean name for Victoria Falls.

It would also contain one troy ounce of gold – a little heavier than an imperial ounce and equivalent to 31.1g.

The coin will be easily convertible into cash and could also be used in transactions, the bank says.

source: bbcafrica


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