Mosi-oa-Tunya (coin)

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

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

Nomenclature and characteristics

The Mosi-oa-Tunya is the Tongan name for Victoria Falls and translates into the English language as The Smoke Which Thunders.[1][2]

The coins weigh one troy ounce and are made of 22 carat gold.[2][3] They were minted outside of Zimbabwe.[4]

Each coin has a unique serial number.[5]

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.[2] The coins were introduced in the context of instability with existing local currency and Zimbabweans tendency to use the U.S. dollar.[4]

Value

The coins are worth the international market rate for a troy ounce of gold, plus five per cent.[2]

See also

References

  1. Thomas, Merlyn (2022-07-25). "Zimbabwe launches gold coins to tackle soaring inflation". BBC News. Retrieved 2022-07-25.
  2. MUTSAKA, FARAI (25 July 2022). "Zimbabwe debuts gold coins as legal tender to stem inflation". ABC News. Retrieved 2022-07-25.
  3. Ndlovu, Roy (22 July 2022). "Zimbabwe Gives Images of Gold Coins Meant to Tackle Inflation". www.bloomberg.com. Retrieved 2022-07-25.
  4. "Zimbabwe introduces gold coins in an effort to tame inflation, rekindle faith in currency". CBC. 25 July 2022.
  5. Giedroyc, Richard (2023-05-22). "Zimbabwe Has Small Change Crisis". Numismatic News. Retrieved 2023-05-26.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.