The Zimbabwean Dollar has lost more value against the United States Dollar on the official forex market conducted this Tuesday, 10 October 2023.

At today’s Reserve Bank of Zimbabwe (RBZ) wholesale foreign currency auction, the Zimbabwe dollar averaged $5 633.8332, down from $5 252.6558 per US Dollar last week.

The total amount on offer today was US$20 000 000.00 but US$18 106 845.96 was allotted.

About 17 bids totalling US$18 106 845.96 were received and all the bids received allotments.

The highest rate was ZWL$5 780.0000 while the lowest bid rate was ZWL$5 595.0000.

Last week, the RBZ launched Gold-Backed Digital Tokens also known as ZiG (Zimbabwe Gold) as a means of payment.

The central bank said ZiG will become one of the means of payment for domestic transactions, in addition to its use as a store of value.