The Reserve Bank of Zimbabwe (RBZ) has released the latest prices for gold coins and digital tokens as well as official exchange rate figures.
The gold coins and digital tokens were introduced as a store of value in an attempt to curb the local currency’s continued fall.
For long, the local currency has been performing badly against major convertible currencies especially the American dollar.
Meanwhile, RBZ recently assured Zimbabweans of currency stability, citing an increase in gold reserves backing the Zimbabwe Gold (ZiG) which now stands at over US$500 million.
RBZ Governor John Mushayavanhu clarified that recent exchange rate movements are market-driven, not a devaluation, & emphasized the bank’s commitment to economic stability.
Apparently, the central bank recently announced that the it would let market forces determine exchange rate.
Zwnews
