African country eyes gold currency ...News

Russia Today - Economy
African country eyes gold currency
source : Russia Today ( News ) () 42
Zimbabwe’s central bank announces gold coins as inflation approaches 200% Seeking to curb inflation that reached 191% in June, the central bank of Zimbabwe announced on Monday it will soon start issuing gold coins. The government in Harare hopes this will reduce the demand for US dollars and at least slow down the further debasement of the local currency, but the general public appears unconvinced. Central bank governor John Mangudya said the coins should become available in late July via local banks and currency exchanges. Named Mosi-oa-Tunya, after the Victoria Falls, they will contain one troy ounce of gold and

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