Zimbabwe dollar eases by $13.16 to $338.14 to the US dollar


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The Zimbabwe dollar today eased by $13.16 to average $338.4921 against the United States dollar but it ranged from $460 to $600 on the black market.

It was trading at $333.4552 on the interbank market.

A total of US$24.5 million was allotted at today’s auction with US$21.1 million going to large firms.

Offers ranged from $320 to $365.

Some economists predicted that the local currency will collapse this month while one said it will clock $1 000 to greenback by the end of this month.

The government says it has introduced measures to shore up the local currency and has fined 12 of the country’s 16 banks for indiscipline but the downward trend continues.

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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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