Mosi-oa-Tunya (coin)
| Demographics | |
|---|---|
| User(s) |  Zimbabwe |
| Issuance | |
| Central bank | Reserve Bank of Zimbabwe |
| Valuation | |
| Value | international 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].
Nomenclature and characteristics
[edit]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]
Use
[edit]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]
Value
[edit]The coins are worth the international market rate for a troy ounce of gold, plus five percent.[3]
See also
[edit]- Economy of Zimbabwe
- Zimbabwean bond notes
- Zimbabwean bond coins
- Zimbabwe Gold
- Mosi-oa-Tunya National Park
- Zimbabwean dollar
- Krugerrand
- Dedollarisation
References
[edit]- ^ "Zimbabwe: RBZ introduces gold-backed digital currency". or.fr. 2023-04-24.
- ^ Thomas, Merlyn (2022-07-25). "Zimbabwe launches gold coins to tackle soaring inflation". BBC News. Retrieved 2022-07-25.
- ^ a b c d MUTSAKA, FARAI (25 July 2022). "Zimbabwe debuts gold coins as legal tender to stem inflation". ABC News. Retrieved 2022-07-25.
- ^ Ndlovu, Roy (22 July 2022). "Zimbabwe Gives Images of Gold Coins Meant to Tackle Inflation". www.bloomberg.com. Retrieved 2022-07-25.
- ^ a b "Zimbabwe introduces gold coins in an effort to tame inflation, rekindle faith in currency". CBC. 25 July 2022.
- ^ Giedroyc, Richard (2023-05-22). "Zimbabwe Has Small Change Crisis". Numismatic News. Retrieved 2023-05-26.
