Category «Around The World»

Zimbabwe Ditches Their “Local Currency” and Introduces Gold Coins

Zimbabwe Ditches Their "Local Currency" and Introduces Gold Coins 1

Zimbabwe’s central bank says it will start issuing gold coins as legal tender in late July, as the country battles to control soaring inflation that has considerably weakened the local currency. The gold coin is named ‘Mosi-oa-Tunya’, after Victoria Falls, and can be converted into cash according to the apex bank. The latest measure comes …