Zimbabwe dollar appreciates by2 cents against US dollar


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The Zimbabwe dollar today appreciated by two cents against the United States dollar, the first time it appreciated after weeks of losing marginally against the greenback.

The local currency has been on the slide, though by a few cents since the 10 November auction when it averaged $81.67..

It averaged $81.8572 today against last week’s $81.8765.

A total of US$30.3 million was allotted today bringing the total disbursed since the auction started on 23 June to US$563.4million.

The highest offer today was $86 and the lowest $80.

A total of 424 bids were accepted and only 43 were disqualified.

The Optional Market Implied Rate also fell from firmed from 105.82 to 102.11.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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