Categories: Stories

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.

(203 VIEWS)

This post was last modified on %s = human-readable time difference 6:23 pm

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.

Recent Posts

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024

The Zimbabwe Gold will regain its value if the government does this…

Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…

October 16, 2024

Is Harare the least democratic province in Zimbabwe?

Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…

October 11, 2024