Share of payments for imports from Zimbabwe foreign currency auction drops

Share of payments for imports from Zimbabwe foreign currency auction drops

The share of payments from the foreign currency auction dropped from 35% in the seven months to July to 33% in the eight months to August, according to data provided by the Reserve Bank of Zimbabwe.

Zimbabwe paid out a total of US$4 billion between January and August with US$2.5 billion coming from foreign currency accounts, US$1.3 billion from the auction and US$246.4 million from the interbank market.

Foreign currency accounts payments constituted 61% up from 58% in July. Interbank payments dropped from 7% in July to 6% in August while auction payments also dropped from 35% to 33%.

Here is a breakdown of the payments.

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