The Reserve Bank of Zimbabwe (RBZ) has released the latest interbank foreign currency exchange rate and prices for gold coins and digital gold-backed tokens.
The tokens represent the digital form of the actual gold held by the RBZ. The value of a ZiG is quoted daily on the RBZ website.
Institutions and individuals are able to buy the tokens using local or foreign currency from their banks.
Since the tokens are divisible down to the smallest unit of gold measurement, a milligramme, it is easy to get very close to the price in the actual currencies in use.
Further, because the tokens represent gold, holders will be able to gain value in the event the value of gold on global markets appreciates, which offers a flexible and reliable hedge against value erosion in periods of inflation.
Meanwhile, RBZ aims for global recognition of the Zimbabwe Gold (ZiG) currency.
Deputy Governor Dr. Innocent Matshe highlights that ZiG’s stability and effective market performance.
He says RBZ commits to its sustainability, adhering to SADC inflation targets, and ensuring no ZiG is issued beyond reserves.
He says open dialogue with stakeholders continues to address concerns and promote confidence in Zimbabwe’s monetary system.
Zwnews
