Zimbabwe dollar falls by 36 cents

The Zimbabwe dollar today fell by 36 cents against the United Sates dollar indicating that the local currency could be stabilizing against the greenback.

It averaged $82.56 last week and went down to $82.92 at today’s auction.

All bids by the main sector and the small and medium enterprises were met in full with the SMEs getting US$517 630.88 and the min auction being allotted US$13.7 million.

Only 16 bids from the 56 received from SMEs were disqualified and 17 out of 113 for the main auction were also disqualified.

Raw materials and machinery and equipment continued to get the bulk of the funds which totaled just over US$8.3 million.

The highest bid was $88.38 today down from $90last week while the lowest was $78 up from $77.01 last week.

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