RBZ will issue small gold coins for public
Gesara.news » News » RBZ will issue small gold coins for publicNews Date: August 15, 2022
Zimbabwe's central bank will issue small gold coins for affordability by ordinary Zimbabweans.
Zimbabwe will release smaller units of gold coins into the market in November this year to respond to public demand, in a move seen to tackle the country's currency crisis through exchange rate stabilization.
'Following the successful launch of the gold coins on 25 July 2022 and in response to public demand, the Bank shall introduce and release into the market gold coins in units of a tenth ounce, quarter ounce, and half an ounce for sale with effect from mid-November 2022,' RBZ Governor John Mangudya said in his mid-term monetary policy statement released Thursday.
"This is going to be the biggest thing that nobody even knows about, and it is all signed."
U.S. President Donald Trump made the announcement Friday, after meeting with Kosovo Prime Minister Avdullah Hoti and Serbian President Aleksandar Vucic in the Oval Office earlier in the day.
The baseline can include wage rates, the price of gold, or a foreign currency.
Currency revaluation can be triggered by changes in the interest rates between various countries and large-scale events that affect the overall profitability, or competitiveness, of an economy.