Zimbabwe dollar falls by $3 against the US dollar

The Zimbabwe dollar today fell by $3 against the United States dollar to trade at $68.89 down from $65.88 last week.

This is the fourth decline since the auction started four weeks ago but the range is narrowing.

Today the lowest bid was $40 and the highest was $85.

Last week the lowest bid was $30 and the highest $90.

The lowest bid accepted today was however $64.20 up from $55 last week.

A total of US$15.99 was allotted today up from U$13.6 last week. Total bids were US$18.72 million.

Some 289 bids were received but 59 were rejected.

Raw materials got the highest allocation of US$5.6 million followed by machinery and equipment with US$3 million.

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