Zim dollar marginally slides against USD

Harare, (New Ziana) – The Zimbabwe dollar slid marginally by five cents against the greenback to $81.79 in Monday’s weekly forex trade, the last for the year.

Last week, the local currency traded at $81.74.

Monday’s trade is the last for the year, and was shifted from the normal Tuesday weekly auction because of the December 22 Unity Day holiday.

Trading will resume on Tuesday January 12, 2021.

In Monday’s trade, US$29.58 million was allotted to 347 bidders, with the bulk of the allocations, as usual, going towards raw materials, machinery and equipment.

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

This comes as demand for foreign currency appears to be high with the black market now offering as high as $117 from around $110 last week.

The forex auctions were introduced in June after the government allowed the local currency to float freely.
New Ziana