Categories: Stories

Zimbabwe dollar now officially at $907.92 to the US dollar

The Zimbabwe dollar today shed $15.29 to average $907.9236 to the United States dollar closing the gap with the black market which remained stagnant at $1 000 to $1 300.

Offers at today’s auction almost hit the black market rate ranging from $900 to $996.

A total of 380 businesses, half from the small and medium sector, were allotted a total of US$18.1 million with l;arge companies getting US$15.9 million.

Business is worried about the increasing dollarisation of the economy but at the same time it is the one that has vast amounts of foreign currency and can therefore dictate the exchange rate.

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This post was last modified on %s = human-readable time difference 7:00 pm

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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