Mosi-oa-Tunya (coin)
The Mosi-oa-Tunya (English: The Smoke Which Thunders) is a gold coin introduced in Zimbabwe in 2022 in the context of rising inflation.
| Demographics | |
|---|---|
| User(s) |  Zimbabwe |
| Issuance | |
| Central bank | Reserve Bank of Zimbabwe |
| Valuation | |
| Value | international market rate for an ounce of gold plus 5% |
Nomenclature and characteristics
The Mosi-oa-Tunya is the Tongan name for Victoria Falls and translates into the English language as The Smoke Which Thunders.[1][2]
The coins weigh one troy ounce and are made of 22 carat gold.[2][3] They were minted outside of Zimbabwe.[4]
Use
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.[2] The coins were introduced in the context of instability with existing local currency and Zimbabweans tendency to use the U.S. dollar.[4]
Value
The coins are worth the international market rate for a troy ounce of gold, plus five per cent.[2]
See also
References
- Thomas, Merlyn (2022-07-25). "Zimbabwe launches gold coins to tackle soaring inflation". BBC News. Retrieved 2022-07-25.
- 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.
- "Zimbabwe introduces gold coins in an effort to tame inflation, rekindle faith in currency". CBC. 25 July 2022.