“Mosi-oa-Tunya” Gold Coin Success Incites Second Sale

Reserve Bank of Zimbabwe’s Rbz’s Governor will offer 2,000 more “Mosi-oa-Tunya” gold coins to the public, a week after an initial sale saw “favorable uptake.”

Governor Mangudya revealed to TechnoMag that the bank sold 1,500 gold coins during the first week of their release into the market.Mangudya also told TechnoMag that, “the coins are sold in the local and foreign currencies by banks and approved dealers in the country.”

Mangudya introduced the Mosi-oa-Tunya coins last month to ease demand for US dollars as a store of value, after a collapse of the Zimbabwe dollar, which has lost more than two-thirds of its value against the greenback this year, spawning annual inflation of 257% in July.

Rbz’s sale of the coins will most likely boost investor confidence in the local currency. At last month’s sale, 85% of them were bought using Zimbabwe dollars, and the balance in foreign currency, Governor Mangudya said.

Mangudya added that, the , “22-carat coin is selling for $1,841,” and the Governor confirmed his word to TechnoMag by making this data available yesterday on the central bank’s website.