Business Reporter
THE Reserve Bank of Zimbabwe’s (RBZ) 18th Gold Backed Digital Tokens (GBDT) sales mopped up a total ZW$659 million testifying the instrument’s capacity in mopping up excess liquidity.
The GBDT were introduced in a bid to shore up the national currency and also serve as an alternative investment option for the market as opposed to the conduct of chasing after the US$ on the parallel market which was the norm.
The instruments can be transferred between individuals and businesses as a form of payment and are projected to stabilise the Zimbabwean dollar.
A report by the central bank on the on the latest sales shows that a significant amount of ZWL was mopped up.
“The RBZ would like to notify the public of the results of the RBZ Gold backed Digital Tokens Issue No 17/2023 on Thursday 12 October 2023.The bank received 27 applications valued at ZW$659 093 733,50 to purchase gold backed digital tokens.
“Price per milligram ZW$391, 50 , milligrams of Gold purchased 1 683,509.Cumulative milligrams purchased 351,8 kgs,” the RBZ update said.
Meanwhile, applications under the 18th issue of o the RBZ gold backed digital tokens should be submitted through the banks during the week for settlement and issuance on Thursday 26 October 2023.
