Zimbabwe’s central bank has launched gold coins in an effort to help curb soaring inflation amid a slump in the country’s currency.
The central bank’s main interest rate was more than doubled this month to 200% after the annual rate of inflation rose above 190%.
Each coin will be priced at the international market rate for an ounce of gold plus 5% for production costs.
As of Friday, an ounce was worth about $1,724 (£1,435).
It will be possible use the coins in shops, if they have enough change, according to the governor of the Reserve Bank of Zimbabwe, John Mangudya.
The coin is called “Mosi-oa-Tunya” which means “The Smoke Which Thunders” and refers to Victoria Falls, on the border between Zimbabwe and Zambia.
Source: BBC
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