The Reserve Financial institution of Zimbabwe is about to introduce a gold-backed digital foreign money to function authorized tender within the nation. The transfer is a authorities initiative geared toward stabilizing the native foreign money from its depreciation in opposition to the US greenback.
In accordance In accordance with a report by native information outlet Sunday Mail, the transfer will permit small quantities of Zimbabwean {dollars} to be exchanged for the digital gold token, permitting extra Zimbabweans to hedge in opposition to foreign money volatility. Central Financial institution Governor John Mangudya mentioned the plan was supposed to “depart nobody or place behind”.
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