20 Years Banknote Sorting Machine Manufacturers & Suppliers - Grace Cash Sorting Machine
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20 Years Banknote Sorting Machine Manufacturers & Suppliers - Grace Cash Sorting Machine
According to MarketWatch, the Reserve Bank of Zimbabwe issued a statement on the 5th stating that Zimbabwe is replacing its current currency, the New Zimbabwean Dollar, with a new currency supported by gold and foreign currency to cope with inflation and rapid depreciation of the currency. According to reports, the New Zimbabwe Dollar was introduced in 2019 and has depreciated by nearly three-quarters since the beginning of this year.
According to the statement from the Central Bank of Zimbabwe, the new currency is referred to as a "structured" currency, which will be based on the central bank's holdings of foreign currency and precious metal reserves such as gold. Reuters reported that Zimbabwe's central bank currently holds $100 million in cash and approximately 2.5 tons of gold reserves.
