Question
Which country’s central bank will launch a
gold-pegged digital currency and legalize them in the country for stabilizing the local currency after its continuous devaluation in comparison to the U.S. dollar?Solution
The Reserve Bank of Zimbabwe will launch a gold-pegged digital currency and legalize them in the country. It is believed that the government took this step for stabilizing the local currency after its continuous devaluation in comparison to the U.S. dollar. This initiative taken by Zimbabwe will allow the exchange of Zimbabwean dollars with digital gold tokens and secure Zimbabweans against currency volatility.
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