The Reserve Bank of Zimbabwe (RBZ) has said it will introduce smaller denominated versions of Mosi-Oa-Tunya gold coins.
The new coins will come this November as half an ounce, quarter of an ounce and a tenth of an ounce.
At current price, the smallest coin, equivalent to 3.11g of gold will be worth USD188.48.
According to the Monetary Policy Statement published this week, “As at 10 August 2022, 4475 gold coins had been sold realising ZW$3.7 billion of which 90% was paid in local currency and the balance in foreign currency, and evenly distributed throughout the agents.
The Bank added that, “The high demand for the gold coins will assist in mopping up liquidity from
the market and thus strengthen the demand and enhance the value of the local currency.
“The Bank shall continue to release additional gold coins into the market on an ongoing basis in line with demand.”
This video contains information on the Mosi oa Tunya gold coin
Comments
Loading…