Categories: Stories

Second batch of Zimbabwe digital tokens mops out $8 billion

The second batch of gold-backed digital tokens today mopped out $8 billion to increase the tally to $22 billion in just two weeks.

According to the Reserve Bank of Zimbabwe there were a total of 106 applications with only two in United States dollars.

The tokens purchased represented 71.6 kg of gold.

Applications for the third batch are now open and the results will be announced on Friday, 26 May.

The token were introduced to stabilise the local currency but so far there has been very little effect.

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Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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