Zimbabwe braces for new gold coin as inflation hedge
HARARE -Zimbabwe will next week introduce a gold coin aimed at battling a resurgence in inflation and easing the public’s thirst for US dollars.
The 22-carat coins, each weighing one Troy ounce (31.1 grammes) and individually numbered, have been named Mosi-oa-Tunya (“the smoke that thunders”) after the country’s world-famous Victoria Falls.
They will be sold through banks from Monday at the prevailing international price for gold.
The coin — whose market value on Friday was $1,725 — will be convertible to cash and be tradeable locally and internationally.
Source: The Zimbabwe Mail
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