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August 19, 2022
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Zimbabwe to introduce gold coins as local currency tumbles

Soaring inflation piling pressure on country already struggling with shortages and stirring memories of Mugabe chaos

Zimbabwe will start issuing gold coins as legal tender in late July, its central bank has said, as the country battles to control runaway inflation that has considerably weakened the local currency.

The inflation rate more than doubled last month to 191%, stoking memories of the hyperinflation of the 2000s that saw the Zimbabwean dollar redenominated three times before being effectively abandoned in 2009.

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