Zimbabwe dollar down by nearly $10 to $671.45 against the United States dollar


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The Zimbabwe dollar today eased by nearly $10 to average $671.4466 as it continued its slide against the United States dollar.

A total of US$15.5 million was allotted to 234 businesses with 101 large firms getting US$14 million.

Offers at the auction ranged from $665 to $690.

Parallel market rates remained steady at $800 to $900.

Zimbabwe is currently facing a crippling power shortage but the government has promised that people will have power at Christmas.

The central bank said it will maintain its tight monetary policy and will only review it after assessing inflation trends in the first quarter of next year.

The country is holding harmonised elections between July and August. 

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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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