Info Zimbabwe ntv infoZimbabwe wants to introduce gold coinsThe...

Info

Zimbabwe ntv infoZimbabwe wants to introduce gold coinsThe Zimbabwe dollar is worth very little now.The central bank of Zimbabwe wants to start selling gold coins as a store of value this month because of galloping inflation and the currency crisis. These will be sold in the national currency, the Zimbabwe dollar, U.S. dollars and other foreign currencies starting July 25 at a price based on the current international gold price and production costs, Central Bank Governor John Mangudya announced.The "Mosi-oa-tunya" coin - named after Victoria Falls - can be exchanged for cash and traded domestically and abroad, the central bank said. The coin will contain one troy ounce of gold and will be sold by local banks and others, it said. Gold coins are used by international investors to protect against inflation and risks such as wars.