{"id":63387,"date":"2022-07-26T09:32:46","date_gmt":"2022-07-26T07:32:46","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-gold-coins-govt-trying-to-moderate-very-high-demand-for-usd-analyst"},"modified":"2022-07-26T11:57:14","modified_gmt":"2022-07-26T09:57:14","slug":"rbz-gold-coins-govt-trying-to-moderate-very-high-demand-for-usd-analyst","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/rbz-gold-coins-govt-trying-to-moderate-very-high-demand-for-usd-analyst","title":{"rendered":"RBZ Gold Coins: Govt Trying To Moderate Very High Demand For USD \u2013 Analyst"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>Zimbabwean economist Prosper Chitambara has said the Reserve Bank of Zimbabwe\u2019s Mosi-oa-Tunya gold coins are a government\u2019s attempt at moderating the very high demand for the United States dollar (USD).<\/p>\n<p>The central bank Monday introduced disbursed 2 000 coins to commercial banks. Chitambara told NewZimbabwe.com:<\/p>\n<p>The government is trying to moderate the very high demand for the U.S. dollar because this high demand is not being matched by supply.<\/p>\n<p>The expectation is that \u2026 there will also be moderation in terms of the depreciation of the local currency, which should have some kind of stabilising effect in terms of pricing of goods.<\/p>\n<p>Internationally, gold coins are used in countries such as China, South Africa and Australia to hedge against inflation and as an investment opportunity, although they are not as widely used as currency as envisaged by Zimbabwe\u2019s central bank.<\/p>\n<p>For Zimbabwe, we are in chronic hyperinflation so the expectation is that there will be a huge uptake of these gold coins. However, most Zimbabweans struggle with daily survival and won\u2019t be able to buy them<\/p>\n<p>For the common man, there is not really much to benefit directly from this, especially if you don\u2019t have any excess cash.<\/p>\n<p>Many people have no money for bread, let alone for savings. The expectation is that indirectly it will benefit the ordinary person through moderating the prices.<\/p>\n<p>According to a statement recently issued by the central bank, any individual or company can buy the coins from authorised outlets such as banks and can keep the coins at a bank or take them home.<\/p>\n<p>Foreigners can only buy the coins in foreign currency, said the central bank.<\/p>\n<p>Meanwhile, trust in Zimbabwe\u2019s currency is low after people saw their savings wiped out by hyperinflation in 2008 which reached 5 billion%, according to the IMF (231 million per cent according to official statistics).<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/zimbabwe\">Zimbabwe<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. Zimbabwean economist Prosper Chitambara has said the Reserve Bank of Zimbabwe\u2019s Mosi-oa-Tunya gold coins are a government\u2019s attempt at moderating the very high demand for the United States dollar (USD). The central bank Monday introduced disbursed 2 000 coins to commercial banks. Chitambara told NewZimbabwe.com: The government is trying to moderate the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":63386,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,7,35,15],"tags":[1493,2189,4368,10984,19],"class_list":{"0":"post-63387","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-files","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-prosper-chitambara","14":"tag-rbz-mosi-oa-tunya-gold-coin","15":"tag-zimbabwe"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBZ Gold Coins: Govt Trying To Moderate Very High Demand For USD \u2013 Analyst - zimbabwe<\/title>\n<meta name=\"description\" content=\"Zimbabwean economist Prosper Chitambara has said the Reserve Bank of Zimbabwe\u2019s Mosi-oa-Tunya gold coins are a governmen ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-gold-coins-govt-trying-to-moderate-very-high-demand-for-usd-analyst\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBZ Gold Coins: Govt Trying To Moderate Very High Demand For USD \u2013 Analyst\" \/>\n<meta property=\"og:description\" content=\"Zimbabwean economist Prosper Chitambara has said the Reserve Bank of Zimbabwe\u2019s Mosi-oa-Tunya gold coins are a governmen ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-gold-coins-govt-trying-to-moderate-very-high-demand-for-usd-analyst\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-26T07:32:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-26T09:57:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_16-62dfba657e3b2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1032\" \/>\n\t<meta property=\"og:image:height\" content=\"618\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-gold-coins-govt-trying-to-moderate-very-high-demand-for-usd-analyst\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-gold-coins-govt-trying-to-moderate-very-high-demand-for-usd-analyst\",\"name\":\"RBZ Gold Coins: Govt Trying To Moderate Very High Demand For USD \u2013 Analyst - 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