Zimbabwe to introduce gold-backed digital currency To combat | Adda247 - Free Study Material and Free PDFs

Zimbabwe to introduce gold-backed digital currency


To combat the falling value of the Zimbabwean currency, the Reserve Bank of Zimbabwe (RBZ) has announced plans to introduce a gold-backed digital currency.
The digital gold tokens will be a form of electronic money, backed by gold held at the RBZ.
This will enable holders of small amounts of Zimbabwean dollars to exchange their money for tokens and protect themselves against exchange rate fluctuations.