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Ghana Launches Gold Coin Priced in Local Currency

Ghana Launches Gold Coin Priced in Local CurrencyGhana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction price. Despite efforts to strengthen the cedi, Ghana’s currency continues to depreciate against the U.S. dollar. Gold Coins Priced in Local Currency Ghana has launched […]

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Zimbabwe’s De-Dollarization: Central Bank to Issue Gold-Backed Digital Currency in Early May

Zimbabwe’s De-Dollarization: Central Bank to Issue Gold-Backed Digital Currency in Early MayThe Reserve Bank of Zimbabwe (RBZ) has said it will start issuing gold-backed digital tokens on May 8. The first phase of the launch will see the digital tokens being issued for “investment purposes with a vesting period of 180 days.” The RBZ also revealed that the gold-backed digital tokens “would be used both as […]

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Gold Coins Help Zimbabwe Achieve ‘Price and Exchange Rate Stability’ — Central Bank

Gold Coins Help Zimbabwe Achieve ‘Price and Exchange Rate Stability’ — Central BankThe Reserve Bank of Zimbabwe recently revealed that some 25,188 of its value-preserving gold coins were sold between July 2022 and Jan. 13. According to the central bank governor, John Mangudya, the gold coins “have proved to be an effective open market instrument for mopping up excess liquidity in the economy.” Gold Coins as Alternative […]

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Zimbabwe to Hike Benchmark Rate to 200%, Central Bank Minted Gold Coins to Act as Store of Value

Zimbabwe to Hike Benchmark Rate to 200%, Central Bank Minted Gold Coins to Act as Store of ValueAfter seeing the country’s inflation rise to 191.6% in June, Zimbabwean monetary authorities said they have resolved to increase the benchmark interest rate to 200% per annum. In addition, the central bank said it will introduce gold coins which will act as an instrument that will “enable investors to store value.” Discouraging Speculative Borrowing Monetary […]

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