Zimbabwe dollar continues to stabilise, sheds only $1.32 against the US dollar

The Zimbabwe dollar today shed only $1.32 to average $629.5204 against the United States dollar indicating that it is stabilising.

And most of those seeking foreign currency from the auction market are getting it with only 3 bids out of 174 being disqualified.

The 171 that qualified were allotted in full, a total of US$11.7 million.

Offers ranged from $603 to $660.

Prices on Zimpricecheck remained at $700 to $820.

Although the local currency is said to be stabilising and businesses are supposed to use the interbank rate plus the permitted mark-up, Zimpricecheck says: “Despite repeated denials by both government and businesses, there is still an undeniable link between prices and black market exchange rates.”

(88 VIEWS)

Don't be shellfish... Please SHARE

Google

Twitter

Facebook

Linkedin

Email

Print