The Zimbabwean dollar weakened to 120 against the United States dollar from 118 last week on the government’s controlled foreign currency auction.

Apparently, the Zim dollar traded for up to 250 on the popular parallel market.

The local currency has been depreciating against major convertible currencies.

Meanwhile, at the time many economists are calling for dollarisation, President Emmerson Mnangagwa has ruled out such a move.