Zimbabwe dollar sheds only $27.12 cents in first auction after elections


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The Zimbabwe dollar today shed only $27.12 to average $4 604.6233 against the United States dollar in the first wholesale foreign currency auction after the elections which the opposition Citizens Coalition for Change has refused to accept.

This might be a clear indication that the market has not bought the CCC claim that it was robbed of its victory and is going ahead with its business as usual.

The last auction was held 13 days ago.

President Emmerson Mnangagwa won last week’s elections polling 52.6% of the vote while Nelson Chamisa got 44%. ZANU-PF won 136 seats and CCC, 73.

Chamisa, however, claims he won the elections.

CCC has called for fresh elections but has not indicated whether it is going to court to challenge the results.

Offers at the auction ranged from $4 570 to $4 650 and US$19.6 million of the US$20 million on offer was taken up.

(60 VIEWS)

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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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