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's central bank will start selling gold coins this month as a store of value to tame runaway inflation, which has considerably weakened the local currency.

The central bank governor, John Mangudya, said in a statement on Monday that the coins would be available for sale from 25 July in local currency, US dollars and other foreign currencies at a price based on the prevailing international price of gold and the cost of production.