Zimbabwe dollar now at $632.14 to the US dollar


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The Zimbabwe dollar today shed $2.62 to average $632.1371 to the United States but rates on the parallel market remained unchanged ranging from $700 to $820.

A total of US$10.6 million was allotted today to 164 entities including 61 large firms which got US$9.5 million.

Offers at the auction ranged from $608 to $661.

The rate offered by some of the large shops, which was around $691, could rise to $700 further eroding the usefulness of the black market rate.

But at the market, people are still changing the Zimbabwe dollar when buying goods at the rate of $800 to one.

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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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