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Central Bank of Swaziland refute claim that they are buying 50/50 coin at E800

By on July 13, 2018

The Central Bank of Eswatini/Swaziland has refuted rumors that the Bank is buying the E5 50/50 commemorative coin at E800.00.

This comes after rumors that the Central Bank of Eswatini is buying the coin started circulating which also resulted in Emaswati preserving the coin rather than using it. The E5 is still a legal tender in the Kingdom of Eswatini and it started circulating in May 2018. The Central Bank of Eswatini introduced the coin to mark the Kingdom of Eswatini’s 50th Independence (Golden Jubilee) and His Majesty King Mswati III’s birthday.

Speaking on the Eswatini Broadcasting Information Services (EBIS), Central Bank’s Communications Officer Zithulele Gina stated that they are aware about thee rumors that they bank is buying the coins as some members of the public place calls to the bank every day to verify the rumors. He started by explaining that the are two E5 coins that are currently running as legal tenders in the country. According to Gina, the first one was the 2015 E5 that was introduced when the country was changing the old coins then the second on is the commemorative coin. “This are the coins that are legal tenders in the country and they are not up for sale” explain Gina.

What bother us is that there are people who are bound to preserve the money with hopes that it will run out and gain more value which will then result in the shortage of the E5 coin elaborate Gina who further edged the nation to use these coins. The commemorative coin is already found on eBay where it is selling at US$6.99. As of today, the website recorded that they had more that 10 coins up for sale and 8 coins were sold.

About Phumlani Dlamini

A Public Relation graduate from the Limkokwing University of Creative Technology with a vast love and interest for the Kingdom of Eswatini and the people living within it.

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