The highest offer was $5 550 and the lowest $5 200 an indication that the local currency could appreciate further against the greenback.
According to Zimpricecheck, the blackmarket swipe rate is at $8 400 and the mobile money rate is $7 700 but it is almost impossible to get these rates because of the shortage of the Zimbabwe dollar.
In fact, the actual black market rate one gets from the small players -the money changers- is now almost at par with the interbank rate. The interbank rate was today at $5 812.1353
Today’s auction is the third consecutive one where the local currency has gained on the US dollar.
It is not clear whether the local currency will sustain this rally as elections are still seven weeks away.
(144 VIEWS)
This post was last modified on %s = human-readable time difference 2:53 pm
An Indian think tank has described Starlink, a satellite internet service provider which recently entered…
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…
Zimbabwe is among the top 30 countries in the world with the widest gap between…
Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…
The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…
