Zimbabwe to sell gold coins as local currency weakens

Zimbabwe Reserve Bank Governor John Mangudya delivers the Monetary Policy Statement in Harare on February 20, 2019. PHOTO | AFP

Zimbabwe will this month start selling gold coins as a store of value at a time its currency is weakening considerably, pushing the cost of living beyond the reach of many.

Central bank governor John Mangudya said the coins would be available for sale from July 25 in local currency and United States dollar at a price based on the prevailing price of gold.