RBZ Releases Mosi Oa Tunya Gold-backed Digital Token And Coin Prices
The Reserve Bank of Zimbabwe (RBZ) published the prices of the Mosi Oa Tunya Gold Coin and the Gold-backed Digital Token as of 10 May 2023.
The values provided represent the prices in different currencies US dollars, South African Rand, Botswana pula, British pounds, Australian dollars, Euros and Zimbabwean dollars.
One Coin was being sold as follows:
- US$2,131.71;
- ZAR39,741.68
- BWP28,536.95
- AUD3,153.42
- GBP1,689.82
- UER1,944.46
- ZWL3,101,752.65
Half of a Coin was sold as follows:
- US$1,065.86);
- ZAR19,870.84
- BWP14,268.47
- AUD1,576.71
- GBP844.91
- EUR972.23
- ZWL1,550,876.33
A quarter of a Coin was sold as follows:
- US$532.93);
- ZAR9,935.42
- BWP7,134.24
- AUD788.35
- GBP422.46
- EUR486.11
- ZWL775,438.16
A tenth of a Coin was sold as follows:
- US$213.17
- ZAR3,974.17
- BWP2,853.69
- AUD315.34
- GBP168.98
- EUR194.45
- ZWL310,175.27
GOLD-BACKED DIGITAL TOKEN PRICE PER MILLIGRAM (MG)
- US$0.0685
- ZWL 99.72
Buying Gold-backed Digital Tokens: Here Is What You Need To Know
The Reserve Bank of Zimbabwe (RBZ) commenced the sale of gold-backed digital tokens on Monday, 08 May 2023.
Interested individuals and institutions could obtain application forms from the RBZ, commercial banks, building societies, and the People’s Own Savings Bank (POSB).
Completed application forms were to be submitted through commercial banks, building societies, and the POSB.
The offer opened on Monday, 8 May 2023, and closed on Wednesday, 10 May 2023. The payment date is Thursday, 11 May 2023, and the Gold-Backed Digital Tokens will be issued on Friday, 12 May 2023.
The digital tokens will be available for sale through banks, in both foreign and local currency, will be issued for investment purposes, and have a vesting period of 180 days.
They will be redeemable in the same way as existing physical gold coins and can be used as a means of payment and a store of value.
Pricing of the tokens in foreign currency shall remain the same as the pricing model of the physical gold coins as determined by the London Bullion Market Association (LBMA) PM fix.
The payment for the digital tokens or physical gold coins in local currency shall be at a 20% margin above the willing-buyer willing-seller interbank mid-rate.
Applications for digital tokens can be made through banks, building societies, and the POSB, with a minimum of US$10 and US$5,000 for individuals and corporates, respectively.
The RBZ reserves the right to accept or reject any application or part thereof and will issue digital tokens in milligrammes through the custodian banks within the Central Securities Depository payment system.
