Zimbabwe dollar continues its slide, now $145.87 to the US dollar

The Zimbabwe dollar today fell by $3.45 against the United States dollar to average $145.8721 down from last week’s $142.4237.

A total of 1 349 bids were allotted US$32.8 million with US$5.3 million going to 987 small and medium enterprises.

The lowest offer was $135 and the highest $156.

The Zimbabwe dollar has fallen by 37.20 since the beginning of the year but the auction rate is still way off the $260 on the black market.

The central bank yesterday hiked its overnight rate from 60% to 80% to curb inflation and the parallel market.

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