Today the Zimbabwean dollar traded at ZWL4 577 to the American dollar, figures from the Reserve Bank of Zimbabwe (RBZ) foreign currency auction floor have revealed.

Apparently, this is the second time for the local currency to trade at that rate, as seen from the previous auction results.

According to the central bank, about 13 bids were received with all of them accepted and allotted.

The biggest beneficiaries include raw materials, machinery and equipment, and consumables.