Zimbabwe introduces gold coin to help bolster collapsing currency

Reserve Bank of Zimbabwe Governor John Mangudya holds a sample of a gold coin at the launch in Harare on July, 25.Tsvangirayi Mukwazhi/The Associated Press Faced with a collapsing currency and the world’s worst inflation rate, the Zimbabwe government has introduced an unconventional new weapon: a 22-carat gold coin with a value of more than … Read more

Zimbabwe sells 1,500 gold coins in its fight against inflation, plans to release 2,000 more

(Kitco News) Zimbabwe saw strong demand for its gold coins released to tame inflation by providing a store of value to the country’s plunging currency and giving the population an alternative to the US dollar. The country’s central bank sold 1,500 gold coins after launching the program on July 25, Bloomberg … Read more