RBZ Announces Results Of Gold-backed Digital Tokens Auction

The Reserve Bank of Zimbabwe has released the results of the RBZ Gold-backed Digital Tokens auction (Issue no. 3/2023, ) which took place on Friday 26 May 2023. The Bank received a total of 107 applications, with a combined value of ZW$8,500,033,262.87 and US$245, for the purchase of gold-backed digital tokens. The Bank has allotted the full amount of tokens. The details of the results are as follows:       

                                                                                       ZW$                                    US$ 

1. Number of Bids Received                       105                                            2 
2. Value of Bids Received                           8,500,033,262.87                  244.97
3. Amount Allotted                                       8,500,033,262.87                 244.97
4. Price per Milligram of Gold                  152.46                                      0.0658
5. Milligrams of Gold Purchased              55,752,547                               3,723

Total milligrams of gold purchased: 55,756,270 (55.76 kgs of gold)

The Reserve Bank of Zimbabwe also announced that applications for RBZ Gold-backed Digital Tokens Issue no. 4/2023 should be submitted through banks during the current week, with settlement and issuance scheduled for Thursday, 1 June 2023. The Bank advised interested parties to follow the proper procedures for participating in this upcoming issue.

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