The gold coin that was introduced last week to shore up the local currency and provide an alternative store of value has taken Zimbabwe by storm with 1 500 of the 2000 coins that had been minted being sold in the first four days.
According to the Reserve Bank of Zimbabwe 85% of the coins were sold in local currency with only 15% being sold in foreign currency.
The coin started trading at US$1823.80 on 25 July but fell to US$1799.75 on Thursday. It was up to US$1841.18 on Friday and US$181.07 today.
It has, however, been on a steady increase in Zimbabwe dollars kicking off at $805 745.35 on 25 July to $863 101.13 today.
The central bank said it is releasing an additional 2 000 coins this week.
(125 VIEWS)
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