Zimbabwe debuts gold coins as legal tender to stem inflation

Reserve Bank of Zimbabwe Governor, John Mangudya holds a sample of a gold coin at the launch in Harare, Monday, July, 25, 2022.Zimbabwe has launched gold coins to be sold to the public in a bid to to tame runaway inflation that that has further eroded the country’s unstable currency (Tsvangirayi Mukwazhi/AP/PA)

Zimbabwe has launched gold coins to be sold to the public in a bid to tame runaway inflation that has further eroded the country’s unstable currency.

The unprecedented move was announced on Monday by the country’s central bank, the Reserve Bank of Zimbabwe, to boost confidence in the local currency.