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.



Recent Posts

President Mnangagwa returns to Vic Falls

President Emmerson Dambudzo Mnangagwa has arrived for the official opening of the 56th Session of… Read More

4th March 2024

Invictus Energy discovers high quality gas, petroleum products in Muzarabani

Geo Associates and Invictus Energy, who are exploring for oil and gas in the Muzarabani… Read More

4th March 2024

2 killed, 2 others injured in Nissan NV350, kombi head-on collision

The Zimbabwe Republic Police (ZRP) has confirmed a fatal road traffic accident which occurred recently… Read More

4th March 2024

Allow foreign ownership of local telecommunications- WB tells Zim

Zimbabwe should let telecom operators charge economic tariffs to allow them to invest, the World… Read More

4th March 2024

I’m in process of forming new government- implies Chamisa

Opposition politician Nelson Chamisa yesterday revealed that he had personally embarked on grassroots campaigns in… Read More

4th March 2024

Mupedzanhamo cloakroom destroyed by fire, traders suspect cover up ploy

Image- Herald Thousands worth of goods were engulfed by a devastating fire that broke out… Read More

4th March 2024