Categories: Zim Latest

AUCTION RESULTS: Zimdollar trades @ 275 as RBZ allows willing-seller, willing-buyer

The Reserve Bank of Zimbabwe has allowed a willing-seller willing-buyer policy for financial institutions like banks where rate was 275 to the American dollar today.

Apparently, the Zimbabwean dollar had been trading for 173 on the official foreign currency auction this week.

However, on the widely-used parallel or black market, the rate ranged between 330 and 400.

Meanwhile, President Emmerson Dambudzo Mnangagwa recently policy announcements which some say would ruin the financial institutions.

He suspended banks’ core business, lending.

Zwnews

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