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Mosi-oa-Tunya (coin)

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Zimbabwean currency, introduced in 2022
Mosi-oa-Tunya
Demographics
User(s) Zimbabwe
Issuance
Central bankReserve Bank of Zimbabwe
Valuation
Valueinternational market rate for an ounce of gold plus 5%

The Mosi-oa-Tunya (English: The Smoke Which Thunders) is a gold coin introduced in Zimbabwe in 2022 in the context of rising inflation.

Nomenclature and characteristics

Mosi-oa-Tunya is the Lozi name for Victoria Falls and translates into the English language as The Smoke Which Thunders.

The coins weigh one troy ounce and are made of 22 carat gold. They were minted outside of Zimbabwe.

Each coin has a unique serial number.

Use

The Reserve Bank of Zimbabwe distributed 2,000 Mosi-oa-Tunya to commercial banks on 25 June 2022. They can be used for normal retail purposes. The coins were introduced in the context of instability with existing local currency and Zimbabweans' tendency to use the U.S. dollar.

Value

The coins are worth the international market rate for a troy ounce of gold, plus five percent.

See also

References

  1. "Zimbabwe: RBZ introduces gold-backed digital currency". or.fr. 2023-04-24.
  2. Thomas, Merlyn (2022-07-25). "Zimbabwe launches gold coins to tackle soaring inflation". BBC News. Retrieved 2022-07-25.
  3. ^ MUTSAKA, FARAI (25 July 2022). "Zimbabwe debuts gold coins as legal tender to stem inflation". ABC News. Retrieved 2022-07-25.
  4. Ndlovu, Roy (22 July 2022). "Zimbabwe Gives Images of Gold Coins Meant to Tackle Inflation". www.bloomberg.com. Retrieved 2022-07-25.
  5. ^ "Zimbabwe introduces gold coins in an effort to tame inflation, rekindle faith in currency". CBC. 25 July 2022.
  6. Giedroyc, Richard (2023-05-22). "Zimbabwe Has Small Change Crisis". Numismatic News. Retrieved 2023-05-26.

External links

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