Categories: Stories

Zimbabwe dollar down to $80.47 against the US dollar

The Zimbabwe dollar today fell by $3.71 against the United States dollar to average $80.47 as it once again narrowed the gap between the official and the parallel market rates.

And for a change bids worth just a million dollars were not accepted as the auction received bids for $19.8 million and US$18.5 million was allotted.

Only 36 of the 237 bids received were disqualified.

The black market rate is between $87 and  $95.

The highest rate offered was $87 up from $82 last week.

The lowest rate remained static at $70.

The lowest rate accepted, however, moved from $75 to $78.

The bulk of the money, US$7.6 million went to raw materials.

Machinery and equipment got US$4.5million while pharmaceuticals and chemicals were allotted US$1.7 million.

(132 VIEWS)

This post was last modified on %s = human-readable time difference 3:36 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