ANALYSTS say the Reserve Bank of Zimbabwe (RBZ)’s Mosi-oa-Tunya gold coins concept has been proven, but the bullion pieces’ impact on the monetary policy is still limited due to the small number issued so far.
The central bank introduced half-ounce, quarter-ounce, and tenth-ounce coins this week, in addition to the one-ounce coins that have been in circulation since July 25, 2022.
The coins are meant to be an alternative stable investment, to “mop up liquidity from the market”, as well as to strengthen the Zimbabwe dollar.
But as at August 10, 2022, 4 475 coins worth $3,7 billion had been issued, representing only 0,3 percent of the economy’s $1,12 trillion broad money supply at the time.
The central bank.
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