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Zimbabwe’s Gold Coin
August 2 , 2022
721 days
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- Zimbabwe launched gold coins to control the inflation in country.
- The Reserve Bank of Zimbabwe announced the launch and distributed 2,000 coins to commercial banks.
- In July, the annual inflation rate increased to 190%.
- Thus interest rate of central bank increased by two times to 200%.
- They are also easily tradable in locally and internationally.
- The gold coin is called as “Mosi-oa-Tunya”.
- It means “The Smoke Which Thunders”.
- It also refers to Victoria Falls in native Tonga language.
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