RBZ in record allotment as Zim dollar slides to $83.37

Harare, (New Ziana) – The Zimbabwean dollar on Tuesday slid to $83.37, the second lowest it has ever traded against the greenback since it was floated mid last year.

At last week auction, the local unit traded at $82.68.

Figures released by the Reserve Bank of Zimbabwe after this week’s auction show that the highest ever amount – US$36.32 million was allotted to bidders.

Before this, US$35.835 million was the record amount that had been traded at the weekly auction.

At Tuesday’s auction, the highest rate offered was $89 while the lowest allotted rate was $82.

About US$16 million, half the total allotted amount, was allocated towards purchase of raw materials.

The lowest the unit has traded against the USD so far is $83.40.
New Ziana