Zimbabwe dollar down to $290.89 to the US

The Zimbabwe dollar today shed $32.35 to average $290.8876 against the United States dollar down from $258.5404 last week.

The local currency has lost $124.90 in the past three weeks but remains way off the black market rate though the gap with the interbank rate has narrowed. The interbank rate today was $295.6945.

The black market rate ranged from $360 to $430 while offers at today’s auction ranged from $280 to $330.

A total of US$25 million was allotted today with US$4.4 million going to small and medium enterprises.

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