The auction rate dropped marginally from $613.3681 last week as the local currency has stabilised following stringent measures introduced by the government to shore up the local currency and curb inflation.
The MPC said the premium on the foreign exchange rate dropped from 140% in May to between 5 and 15%.
Inflation dropped marginally from 285.1% in August to 280.4%.
Only US$11 million was disbursed today to 154 small and medium businesses snad 64 large firms.
Offers at the auction remained steady at $580 to $655 while on the blackmarket they ranged from $700 for cash, $780 for mobile money to $820 for swipe.
(319 VIEWS)
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…
Zimbabwe is among the top 30 countries in the world with the widest gap between…
Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…
The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…
Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…
