Zimbabwe launches gold coins to control inflation

Zimbabwe has launched gold coins named “Mosi-oa-Tunya’ to control an inflation spike that has eroded the country’s unstable currency. The move was announced by the Reserve Bank of Zimbabwe (central bank), which has disbursed 2,000 coins to commercial banks.

Coins have been given the status of liquid asset, which can be easily converted into cash. Coins can be used by Individuals or companies. They can purchase coins from banks and other authorised outlets.