Zimbabwe launches gold coins as legal tender to tackle inflation

Daily Current Affairs / Zimbabwe launches gold coins as legal tender to tackle inflation

Change Language English Hindi

Category : International Published on: July 28 2022

Share on facebook

Zimbabwe has launched new gold coins to be sold to the public in a bid to tackle chronic hyperinflation.
The gold coins - called Mosi-oa-Tunya - will have "liquid asset status", meaning they can be converted to cash, traded locally and internationally, and used for transactions.
In the local Tonga language it refers to Victoria Falls.
People can only trade the coins for cash after holding them for at least 180 days.
The central bank has distributed 2,000 coins to commercial banks.

International Dance Day was observed on April 29.
Read More....
Jyothi Surekha Vennam secures a hat-trick of gold medals at the Archery World Cup.
Read More....
Indian Defence Secretary Giridhar Aramane engages in SCO Defence Ministers' Meeting in Astana, Kazakhstan.
Read More....
India Today Group's AI anchor, Sana, clinches a prestigious global media award.
Read More....
China sends a three-member crew, Shenzhou-18, to its Tiangong space station.
Read More....
Iraq passes strict law limiting LGBT rights.
Read More....
Gina Justus honored with 2024 Cambridge Dedicated Teacher Awards for Middle East and North Africa.
Read More....
Sarvadanand Barnwal appointed as Director in the Department of Land Resources.
Read More....
India men's archery team triumphs over Korea, clinching World Cup gold.
Read More....
NASA astronauts Butch Wilmore and Sunita Williams will lift off aboard Boeing's Starliner spacecraft on a United Launch Alliance Atlas V rocket and dock at the orbiting laboratory.
Read More....

Zimbabwe launches gold coins as legal tender to tackle inflation