Zimbabwe fights inflation with gold coins

Announcement comes after currency devaluation

Reserve Bank of Zimbabwe
Photo: Baynham Goredema/Flickr

Zimbabwe’s central bank governor announced on July 4 that gold coins will be available for sale on July 25, after inflation rose above 190%.

The coins will contain one troy ounce of gold. They will be available to buy in local currency, US dollars, and other currencies, governor John Mangudya said. They will be priced based on the “prevailing international price of gold and the cost of production”. 

As well as at the central bank, they will be available to buy at Fidelity Gold Refinery

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