The Reserve Bank of Zimbabwe (RBZ)’s latest official exchange rate is clocking towards ZWL$6 000 to the US dollar.
On Tuesday, 13 June 2023, the wholesale weighted average was US$1: ZWL$5 978.6794.
The RBZ said that all bids within the pre-announced amount were allotted in full.
It said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient balances were also disqualified.
The RBZ added that starting the week beginning 19 June 2023, authorised dealers will submit bids for the two auctions, that is, the forex auction and the wholesale forex auction by 9 AM on Tuesdays.
Apparently, economic analysts are calling for full dollarisation.
However, the government is on record saying it will not dump its own currency.
President Emmerson Dambudzo Mnangagwa recently warned that his administration would rather dump the multi currency system.
Zwnews
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