1 / 1 Relevant items tagged with #ReserveBankOfZimbabwe

Posts

Physical version of gold-backed token replaces Zimbabwe dollar

[Apr 30 2:26 PM] The country has struggled with an unstable currency for years, but now it will have one backed by reserves three times larger than its issuance.

Zimbabwe turns gold-backed digital token into payment method

[Oct 10, 2023 3:30 AM] The Reserve Bank of Zimbabwe first introduced its new project, in which every issued digital token would be backed by a physical amount of gold held in the bank’s reserves, in April 2023.

Zimbabwe central bank close to introducing gold-backed digital tokens into retail

[Aug 14, 2023 1:25 PM] Physical and digital gold tokens have been a big success as investments and an inflation hedge in Zimbabwe, which continues to face triple-digit inflation.

Zimbabwe Central Bank Says Gold-Backed Tokens Set to Be Used for ‘Transactional Purposes’

[Aug 12, 2023 11:30 PM] The Zimbabwean central bank recently said it is close to rolling out gold-backed digital tokens “for transactional purposes.” According to the bank’s governor, the gold-backed digital tokens have already proven to be an effective…

Report: Zimbabwe Central Bank Begins Gold-Backed Digital Currency ‘Dry Run’

[Jul 8, 2023 2:30 AM] According to a report, the Reserve Bank of Zimbabwe has commenced trials, or the “dry run” test, for the viability of launching a gold-backed digital currency. Nelson Mupunga, the director of economic research at the central bank…

Report: Zimbabwe’s Central Bank Set to Launch P2P Platform for Facilitating Gold-Backed Digital Currency Transactions

[Jun 19, 2023 6:30 PM] The Reserve Bank of Zimbabwe has said it is getting close to launching a peer-to-peer platform which will facilitate digital gold token transactions. The central bank said the launch of the platform is expected to help reduce local demand for the…

IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability

[May 11, 2023 3:30 AM] The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender…

Zimbabwe sets price to sell gold-backed digital tokens

[May 5, 2023 3:40 AM] Zimbabwe's central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporates.

Zimbabwe’s De-Dollarization: Central Bank to Issue Gold-Backed Digital Currency in Early May

[Apr 30, 2023 4:00 AM] The Reserve Bank of Zimbabwe (RBZ) has said it will start issuing gold-backed digital tokens on May 8. The first phase of the launch will see the digital tokens being issued for “investment purposes with a vesting period of 180 days.”…

Report: Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar

[Apr 25, 2023 12:30 AM] The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is…

Zimbabwe's central bank to issue gold-backed digital currency: Report

[Apr 23, 2023 11:54 AM] The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency.

Gold Coins Help Zimbabwe Achieve ‘Price and Exchange Rate Stability’ — Central Bank

[Feb 9, 2023 11:30 PM] The Reserve Bank of Zimbabwe recently revealed that some 25,188 of its value-preserving gold coins were sold between July 2022 and Jan. 13. According to the central bank governor, John Mangudya, the gold coins “have proved to be an effective…

Zimbabwean Central Bank Launches CBDC Consumer Survey

[Nov 11, 2022 2:30 AM] The Zimbabwean central bank has said it is “conducting a CBDC [central bank digital currency] Consumer Survey to solicit opinions on the design and nature of the CBDC and its overall acceptance by the public.” The bank said the…