Offers at the auction ranged from $5 850 to $6 225 way below the black market and mobile money rate which is $9 600.
There have been increasing calls by the private sector to liberalise the exchange rate because the auction rate is way too low.
Prices are expected to rise again, sending ordinary Zimbabweans to the open market which charges its goods in United States dollars and is therefore cheaper than the chain supermarkets.
(264 VIEWS)
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…
Zimbabwe is among the top 30 countries in the world with the widest gap between…
Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…
The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…
Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…