Zimdollar on the fall again at RBZ foreign currency exchange auction

The Reserve Bank of Zimbabwe (RBZ) has published its latest foreign currency exchange auction results, in which the Zimbabwean dollar traded at ZW5.604 to the American dollar.

The central bank says at least 20 bids were received of which all of them were accepted, however 17 were allotted.

The major beneficiaries include services such as loans, education, dividends, as well as machinery, and raw materials.

Apparently, the rate was a on the down side as in the last auction, the country’s local currency traded at around ZWL4.500 to ZWL4.700 against the American dollar.

Zwnews