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Zimbabwe plans to launch digital currency backed by gold

Zimbabwe once removed 12 zeros from its currency at the height of hyperinflation in 2009. [AP photo]

Zimbabwe will launch a digital currency next month by introducing "tokens" that are backed by gold reserves and can be transferred between people and businesses as a form of payment, the country's central bank said Friday.

The move is aimed at shoring up Zimbabwe's faltering national currency, the Zimbabwe dollar, which is fast depreciating amid years-long economic woes in the southern African nation.

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