Categories: Stories

Zimbabwe dollar now officially at $6 000 to the US dollar

The Zimbabwe dollar today dropped to $5 978.6794 to the United States dollar closing the gap with the black market which was put at $7 800 by Zimpricecheck.

Offers by the small and medium enterprises ranged from $5 200 to $7 000 while those by large firms were from $5 900 to $7 155.

A total of 294 bids from SMEs worth USD$7.8 million were accepted but only 101 were allotted US$2.9 million. 

Only 17 bids worth USD$16.4 million from large firms were accepted but only one was excluded with 16 being allotted US$15.4 million.

The central bank has released the brakes on the fall of the local currency and it is fast catching up with the black market as the premium is now down to 30%.

The internationally acceptable premium should be around 10%.

(189 VIEWS)

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.

Recent Posts

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024