Zimbabwe dollar eases by two cents against the US dollar


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The Zimbabwe dollar today eased by two cents against the United States dollar as the country’s foreign exchange auction today allotted US$37.4 million to 579 bidders.

This was the second highest disbursement following the record US$38.6 million allotted on 16 February this year.

The auction has so far disbursed US$1.2 billion since it was launched on 23 June last year.

The Zimbabwe dollar has been stable against the United States for the past nine months and has eased by $2.74 since the beginning of the year.

The country is banking its recovery on the stability of the local currency and expects to record a 7.4% growth this year.

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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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