The Reserve Bank of Zimbabwe (RBZ) has released the latest prices for gold coins and digital tokens.
Speaking about the coins, RBZ governor John Manguya said Dr John Mangudya said the gold-backed digital tokens were fully backed by physical gold held by the central bank.
“The issuance of the gold-backed digital tokens is meant to expand the value-preserving instruments available in the economy and enhance divisibility of the investment instruments and widen their access and usage by the public,” he said.
Depreciation of local currency, due to excessive demand for the greenback as a store of value, has largely been blamed for driving resurgent price (increases) and exchange rate volatility.
Manguya said a safe, reliable and profitable alternative investment option will provide another attractive investment instrument for investors holding excess Zimbabwe dollars, which will create less pressure on local currency.
Source Zwnews
