East African central bank governors are renewing efforts to establish a single regional currency by 2031 amidst global economic instability, while simultaneously diversifying their foreign reserves through domestic gold purchases.

• The target year for a single EAC currency is 2031.
• Key players include central bank governors from East African Community (EAC) nations.
• This push is driven by concerns over geopolitical conflicts and rising energy costs impacting macroeconomic stability.