In a statement
today, RBZ governor Dr John Mushayavanhu cleared the air on the trading in the
precious metal coins, clarifying that the latest sale cleared the stock
remainder.
“The Reserve
Bank of Zimbabwe wishes to advise the transacting public that the mop-up sale
of gold coins has been suspended, with immediate effect, following the
successful completion of the exercise.
“The Reserve
Bank of Zimbabwe would like to clarify that this was a sale meant to clear the
remaining stock and not the minting of new gold coins which has been suspended
in April 2004. The latest round of gold coin sales also included coins redeemed
by holders,” said Dr Mushayavanhu.
Dr Mushayavanhu
added that gold coins in the market can still be traded and redeemed.
“The Reserve
Bank of Zimbabwe advises that future gold coin sales will be undertaken upon
accumulation of a sizeable quantity from redemptions. Investors are advised
that gold coins in the market remain tradable and redeemable,” he said.
He said the
apex bank remains committed to achieving its monetary policy objectives.
“The Reserve
Bank of Zimbabwe would like to take this opportunity to reaffirm its commitment
to continuously avail alternative financial market instruments to promote
savings, as well as achieve its monetary policy objectives,” said Dr
Mushayavanhu. Herald
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