Zimbabwe’s foreign exchange auction has allotted US$3.1 billion since its inception in June 2020.
The country now, however, has three exchange rates but the gap between them is too wide.
The current auction rate is $173.27 while the interbank rate is $283.65 and the black market rate ranges from $360 to $420.
The Reserve Bank of Zimbabwe has urged business to use the interbank rate for pricing.
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