Zimbabwe pays out US$6.8 billion in 10 months


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Zimbabwe paid out US$6.8 billion in the 10 months to October with 83% of the amount coming from foreign currency accounts.

The foreign currency auction, which was started in June 2020, only accounted for US$1 billion, or 15% of the total.

Though it played a critical role to keep industry rolling, more businesses are now using their own money instead of relying on the auction.

The interbank market accounted for only 2% of the foreign currency paid out.

 

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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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