Zimbabwe dollar eases to $416.29 to the US dollar


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The Zimbabwe dollar today eased to $416.2890 to the United States dollar, the first day after the government introduced gold coins to shore up the local currency.

Although the central bank said it would announce the price of the gold coin every day at 8 am, The Insider could not establish what the price was today. It kicked off at US$1 823.80 yesterday.

A total of US$24.1 million was allotted to 620 small and medium enterprises and 221 large firms with US$4.3 going to the small enterprises.

The lowest offer today was $398 and the highest $500.

The local currency is trading at$429.3095 on the interbank market and $600 to the greenback for cash on the black market, $750 for mobile money and $950 for swipe.

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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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