Zimbabwe dollar down to $959.31 but black market rate goes haywire


0

The Zimbabwe dollar today shed $14.60 to average $959.3111 to the United States dollar but the gap with the black market rate widened with the swipe rate at $1 800 while the cash rate was $1 200.

Central bank governor John Mangudya said the gap between the auction rate and the black market rate had been widening over the past three weeks but the bank was now aware of what was causing this and was working on reining it.

Offers at the auction ranged from $950 to $1 100, way off the lowest black market rate.

According to Zimpricecheck, the black market buy rate was $1 440 and the sell rate, $1 620.

(152 VIEWS)

Don't be shellfish... Please SHAREShare on google
Google
Share on twitter
Twitter
Share on facebook
Facebook
Share on linkedin
Linkedin
Share on email
Email
Share on print
Print

Like it? Share with your friends!

0
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.

0 Comments

Your email address will not be published. Required fields are marked *