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Zimbabwe has launched gold coins to be sold to the public in a bid to tame inflation that has further eroded the country’s unstable currency.
It has become common practice for people in Zimbabwe to acquire US Dollars from the black market as their currency struggle.
Individuals and institutional buyers of Reserve Bank of Zimbabwe (RBZ’s) gold coins will be required to hold them for at least 180 days before selling while exporters earning less than a million U.S. dollars will be allowed to use the surrender portion of their receipts to purchase the coins in foreign currency.
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