RBZ sells 6799 gold coins in 1 month

The Reserve Bank of Zimbabwe (RBZ) has announced that it sold 6800 gold coins since they were released in July.

In a statement, central bank chief John Mangudya said a total of 6799 gold coins had been sold as at 26 August.

“As at 26 August, a cumulative total of 10,000 gold coins had been minted out of which 8076 had been distributed to the bank’s agents for sale. A total of 6799 gold coins had been sold as at 26 August with 75% having been bought by corporates and 25% by individuals,”

95% of the gold coins sold were purchased in local currency and the balance in foreign currency.

Mangudya said inflantion during the month of August dropped to 12.4% fro 25.6% in July.