The country’s local currency, Zimdollar has continued to fair badly against major convertible currencies especially the American dollar, trading at ZWL5 755 to the green buck.

Trading updates released by the Reserve Bank of Zimbabwe (RBZ) this week shows that on the Wholesale Auction platform, a total 19 bids were received with a total US$17, 3 million being disbursed out of US$20 million on offer which the participating banks could not exhaust.

On the Retail Auction Platform, a total US$1,9 million was disbursed with raw materials receiving US$598 523, machinery and equipment US$612 285, Consumables US$123 770, Services US$249 383, Retail and Distribution US$315 518, pharmaceuticals and Chemicals US$27 527, Paper and packaging US$72 709.