News / National
Mosi-oa-Tunya gold coins selling like hotcakes
27 Sep 2022 at 19:27hrs | Views
THE Mosi-oa-Tunya gold coins have generated $9 billion from the sale of 9 516 coins with 35 percent having been sold to individuals and 65 percent to corporates, the Reserve Bank of Zimbabwe has said.
In a Monetary Policy Committee statement released on Tuesday, RBZ governor, Dr John Mangudya, said the figures indicate growing confidence in the coins by the market.
"The committee noted, with satisfaction, the improved market confidence and uptake of gold coins as an alternative investment product to holding US$," he said.
"A total of 9 516 gold coins valued at ZW$9 billion had been sold as at 23 September 2022, with 35 percent having been sold to individuals and 65 percent to corporates, including asset management and insurance entities."
Today (Tuesday) one gold coin was valued at US$1,725.52 or $1,106,233.58.
The RBZ introduced the coins to help cushion corporates and individuals from the negative impact of declining cash values and mop up large sums of Zimbabwe dollars sloshing in some bank accounts of corporates and wealthy individuals.
In a Monetary Policy Committee statement released on Tuesday, RBZ governor, Dr John Mangudya, said the figures indicate growing confidence in the coins by the market.
"The committee noted, with satisfaction, the improved market confidence and uptake of gold coins as an alternative investment product to holding US$," he said.
Today (Tuesday) one gold coin was valued at US$1,725.52 or $1,106,233.58.
The RBZ introduced the coins to help cushion corporates and individuals from the negative impact of declining cash values and mop up large sums of Zimbabwe dollars sloshing in some bank accounts of corporates and wealthy individuals.
Source - The Chronicle
