Finance:Mosi-oa-Tunya (coin)

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Short description: Zimbabwean currency, introduced in 2022
Mosi-oa-Tunya
Demographics
User(s)Template:Country data ZWE
Issuance
Central bankReserve Bank of Zimbabwe
Valuation
Valueinternational market rate for an ounce of gold plus 5%

The Mosi-oa-Tunya (English: The Smoke Which Thunders) is a gold coin introduced in Zimbabwe in 2022 in the context of rising inflation.[1]

Background

Mosi-oa-Tunya is the Lozi name for Victoria Falls and translates into the English language as The Smoke Which Thunders.[2][3] The coins weigh one troy ounce and are made of 22 carat gold.[3][4] They were minted outside of Zimbabwe.[5] Each coin has a unique serial number.[6]

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.[3] The coins were introduced in the context of instability with existing local currency and Zimbabweans' tendency to use the U.S. dollar.[5] The coins are worth the international market rate for a troy ounce of gold, plus five percent.[3]

See also

References

  1. ↑ "Zimbabwe: RBZ introduces gold-backed digital currency". 2023-04-24. https://or.fr/actualites/banque-reserve-zimbabwe-introduit-monnaie-numerique-adossee-or-3078. 
  2. ↑ Thomas, Merlyn (2022-07-25). "Zimbabwe launches gold coins to tackle soaring inflation" (in en-GB). BBC News. https://www.bbc.com/news/world-africa-62298319. 
  3. ↑ 3.0 3.1 3.2 3.3 MUTSAKA, FARAI (25 July 2022). "Zimbabwe debuts gold coins as legal tender to stem inflation" (in en). https://abcnews.go.com/International/wireStory/zimbabwe-debuts-gold-coins-legal-tender-stem-inflation-87359970. 
  4. ↑ Ndlovu, Roy (22 July 2022). "Zimbabwe Gives Images of Gold Coins Meant to Tackle Inflation". https://www.bloomberg.com/news/articles/2022-07-22/zimbabwe-gives-images-of-gold-coins-meant-to-tackle-inflation. 
  5. ↑ 5.0 5.1 "Zimbabwe introduces gold coins in an effort to tame inflation, rekindle faith in currency". CBC. 25 July 2022. https://www.cbc.ca/news/world/zimbabwe-gold-coins-inflation-currency-1.6531868. 
  6. ↑ Giedroyc, Richard (2023-05-22). "Zimbabwe Has Small Change Crisis" (in en). https://www.numismaticnews.net/world-coins/zimbabwe-has-small-change-crisis. 

Template:Economy of Zimbabwe



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