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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