Zimbabwe Resolves To Mint Gold Coins To Tackle Inflation
July 6, 2022
7:48 am
Zimbabwe has announced that it has concluded plans to introduce gold coins later this month as it continues to intensify efforts geared at curbing the soaring inflation amid a slump in its currency.
The nation’s central bank also provided details on its plans to declare the US dollar to be legal tender for the following five years.
After the annual rate of inflation surpassed 190 percent this month, the central bank’s primary interest rate was more than doubled to 200 percent.
This year, the value of the Zimbabwean dollar relative to major currencies has plummeted.
The one troy ounce, 22-carat
