Zim dollar marginally gains on greenback


Harare, (New Ziana) – The Zimbabwe dollar marginally appreciated against the greenback for the first time in two months after gaining two cents in Tuesday’s trade to close the week at $81.86.

Last week it traded at $81.88, continuing to hold steady against the world’s most traded currency for the better part of the second half of this year.

The local currency last appreciated against the USD on October 6, and has since then been recording minimal to no depreciation in the past weeks.

Figures from the Reserve Bank of Zimbabwe (RBZ) after Tuesday’s weekly auction show that the central bank managed to meet all the bids at the main and small to medium auctions, allotting a combined US$30.27 million.

The highest rate on offer was $86 while the lowest accepted rate was $80.

Raw materials, machinery and equipment continue to command the highest foreign currency allocations since establishment of the auction system, when the local currency was unpegged in June.
New Ziana

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