GOLD COINS: RBZ wants to make sure that Zimbabweans have a stable ‘currency’ in their pockets

0
897
File pic: Gold coins

IMAGINE walking into your favourite township weekend hideout – tshisa nyama – and handing the cashier a gold coin for alcohol, meat or whatever your heart desires on that day.

Gold coins will soon supplement various methods of payment such as cash, bank cards and mobile phone electronic transactions.

The Reserve Bank of Zimbabwe wants to make sure that consumers have a stable ‘currency’ in their pockets.

Thus, the introduction of gold coins in the market.

The country has of late been grappling with run-away inflation, price increases and the erosion of workers’ salaries.

“The Monetary Policy Committee (MPC) has resolved to introduce gold coins into the market as an instrument that will enable investors to store value.

“The gold coins will be minted by Fidelity Gold Refineries (Private) Limited and will be sold to the public through normal banking channels,” announced the Reserve Bank of Zimbabwe.

— BMetro


Breaking News via Email

Enter your email address to subscribe to our website and receive notifications of Breaking News by email.