tawandamusarurwa
Online Reporter
THE Reserve Bank of Zimbabwe (RBZ) has so far sold $67 billion worth of gold coins and gold-backed digital coins to the market.
The gold coins were introduced last year, while the gold-backed digital coins were introduced in May this year.
In a statement on resolutions from the latest Monetary Policy Committee (MPC), RBZ Governor Dr John Mangudya said: “To date, the bank has sold to the market $31,8 billion and $35,2 billion worth of gold coins and gold-backed digital tokens, respectively.
“The rolling out of digital tokens for transactional purposes in the second phase, which is projected to commence during the month of June 2023, will buttress the current stabilisation measures.”
The issuance of gold-backed digital tokens, he said, has gone a long way in mopping up excess liquidity from the market.
Bongani Ndlovu