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Mosi oa Tunya Gold coins are expected to launch into circulation and start trading according to the Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya today in a move that will offer most Zimbabweans savings and investment options.
Mangudya recently said, “The Ebz coins are based on international price, equivalent to one ounce 33 grams coins and will be sold over the counter at various accredited banks and agents.”
This means Each gold coin costs US$1,622
Using a per gram price of US$52.14, the math works out to US$1,621.74 per coin.
RBZ Public Relations Manager Kumbulani Shirichena said,
“The Reserve Bank of Zimbabwe wishes to inform the public that gold coins will be up for trading this Monday the 25th of July 2022 and they will be accessible at banks, Aurex, international banking and their subsidiaries and Homelink. These will be accessible at the payment of local currencies as well as foreign currency.”
This is meant to augment both Monetary and Fiscal Policy interventions expected to provide an alternative savings instrument for most Zimbabweans due to limited savings options manipulated by the United States dollar as a store of wealth to the detriment of local currency stability.
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