trendsjournal.com The central bank of the southeast African nation of Zimbabwe has issued a solid gold coin intended to “expand the value-preserving instruments available in the economy.”
The coin sales had totaled as much as 25 billion Zimbabwean dollars through March and “aided the dissipation of domestic inflationary pressures,” the bank said in a recent statement.
Beginning in November, the gold coins will be redeemable for the country’s new digital currency that is backed by gold in the central bank’s reserves.
Zimbabwe produced about 35 million tons of gold last year, much of which was bought by the central bank.
Gold equaled its record price of $2,072 per ounce earlier this month. It was trading at TK at 5 p.m. U.S. EDT on 15 March.
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