Zimbabwe dollar eases by $7.27 to average $173.27 to the US dollar

The Zimbabwe dollar today eased by $7.27 to average $173.2685 to the United States dollar more than a $100 less than the interbank rate of $277.02.

On the parallel market the Zimbabwe dollar ranges from $360 to $420 to the greenback while offers on the foreign exchange auction market ranged from $165 to $240.

A total of US$26.8 million was disbursed today with the bulk of the money going to 356 large firms which got US$23 million.

President Emmerson Mnangagwa at the weekend ordered the Reserve Bank of Zimbabwe to clear all auction arrears within 14 days and said the central bank should only auction money it has.

He also froze all lending by banks.

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