The Reserve Bank of Zimbabwe (RBZ) has released the latest prices for gold coins and digital tokens.
The gold coins have liquid asset status, prescribed asset status, can be used as collateral, is tradable and can be bought back at the instance of the holder.
Individuals, and domestic corporates including institutional investors are allowed to buy the gold coins in both local and foreign currencies while international buyers can only buy the coins in foreign currencies that include the U.S. dollar, South African rand and the British pound.
In 2022, RBZ introduced gold coins to stabilise the volatile exchange rate.
The then RBZ governor, John Mangudya said: “Gold coins are being sold at the willing buyer willing seller exchange rate which is a market rate determined by business and not by RBZ.
He added that it was not the Bank’s strategy to chase the parallel exchange rate but to operate under the auspices of the foreign exchange management system of the country.
Zwnews
