Zimbabwe dollar falls to $72.15 against US


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The Zimbabwe dollar today fell by $3.26 against the United States dollar to average $72.15.

This was the fifth time the local currency depreciated against the greenback but the gap between the lowest rate and the highest rate offered at the auction continues to narrow.

Today the highest bid was $82.17 and the lowest was $55 but the lowest rate accepted was $70 up from $64.20 last week.

A total of US$14.85 million was allotted against bids of US$20.32 million.

Some 290 bids were received but 51 were disqualified.

The highest allocation, US$7.4 million, went to raw materials and U$2.3 million went to machinery and equipment.

 

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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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