Will Zimbabwe Pave The Way For Gold-Backed Money?
The Reserve Bank of Zimbabwe introduced a gold-backed digital currency that will be fully backed by physical gold held by the Bank. This move might pave the way for gold-backed money. Will gold rescue Zimbabwe from the ashes of economic despair and usher in a new economic era? Since Zimbabwe declared independence from the former […]
Now Zimbabwe To Launch Gold-Backed Digital Currency
The Reserve Bank of Zimbabwe has announced that Zimbabwe will launch a gold-backed digital currency, dumping the US dollar. Zimbabwe has become the latest country to dump dollar and has decided to issue gold-backed digital currency for “investment purposes with a vesting period of 180 days.” The country’s central bank has revealed that these tokens […]
Zimbabwe’s Central Bank To Issue Gold-backed Digital Currency: Report
According to a report, the Reserve Bank of Zimbabwe is planning to issue a gold-backed digital currency.
Zimbabwe Central Bank Announces Gold Currency To Combat Inflation
The Central Bank of Zimbabwe stated on Monday that it would soon begin issuing gold coins in an effort to reduce inflation, which hit 191 percent in June. The Harare government thinks that this will decrease demand for US dollars and at the very least slow down the further depreciation of the local currency.