In an audacious bid to tackle hyperinflation the African nation launches gold coins as currency, but for the average citizen a loaf of bread can be costly, so the coins are largely out of reach.
The first batch of the coins was minted outside the country but eventually they will be produced locally, according to the governor of the Reserve Bank of Zimbabwe, John Mangudya.
“The government is trying to moderate the very high demand for the US dollar because this high demand is not being matched by supply,” said Zimbabwean economist Prosper Chitambara. Any individual or company can buy the coins from authorised outlets such as banks, using the local currency or foreign currencies and purchasers can choose to keep the coins at a bank or take them home.Called Mosi-oa-Tunya — which in the local Tonga language refers to Victoria Falls — the coins "will have liquid asset status, that is, it will be capable of being easily converted to cash, and will be tradable locally and internationally.
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