Zim dollar exchange rate to US dollar now at 83.40

By ZBC Reporter

The United States dollar will for the next one week sell at 83.40 Zimbabwe dollars following the Reserve Bank of Zimbabwe foreign currency auction system conducted this Tuesday.

All qualifying bids were allotted as the Central bank continues to meet auction demands since its inception two months ago.

This Tuesday’s statistics show the narrowing of the gap between the highest bid and the lowest bid suggesting stabilisation of the exchange rate.

Raw materials continue to dominate the allocations on both the Small to Medium Enterprises auction and the Main auction system.

A grand total of 15 million United States dollars was awarded.