Business Reporter
THE Reserve Bank of Zimbabwe (RBZ) Gold Backed Digital Tokens (GBDT) latest sales mopped up a total ZW$9,2 billion taking a further step in strengthening the ZWL currency and stabilizing the exchange rates markets.
In June 2022, the Reserve Bank of Zimbabwe introduced the Mosi-oa-Tunya gold coin, which can be purchased from the bank in domestic currency or a variety of offshore ones.
The central bank guarantees that holders can sell the coins (after a 180-day vesting period) for the prevailing London Bullion Market Association spot price in dollars, or at a 20% mark-up in Zimbabwean dollars.
In a recent update, the central bank governor, Doctor John Mangudya said a sizeable chunk of the local currency was mopped up.
“The RBZ would like to notify the public of the results of the RBZ GBDT Issues no 18/2023 held on Thursday 26 October 2023.The bank received 23 applications valued at ZW$9,2 billion and US$310 000 to purchase gold backed digital tokens,” he said.
He revealed that the total milligrams of gold purchased were 22 kgs and cumulatively 374 kgs were sold.
“Applications under the nineteenth issue of the RBZ gold backed digital tokens should be submitted through the banks during the week for settlements and issuance on Thursday 9 November 2023,” the RBZ added.
