Home LOCAL NEWS Zimbabwe Dollar Falls Against The US Dollar

Zimbabwe Dollar Falls Against The US Dollar

The Zimbabwe dollar marginally lost ground to the United States dollar in Tuesday’s weekly forex auction, after trading at $81.81 against US$1 weakening by $0.14 from the premium of $81.67 recorded last week.

The official exchange rate has sustained stability for over two months as the premiums continue to hover around $81.

Meanwhile, the Reserve Bank of Zimbabwe (RBZ) allotments to industry Tuesday rose, further-reaching a new high of US$32.9 million coupled with the official exchange rate stability.

The auction first reached the peak in September this year after allotting US$31.6 million to industry.

In total, the main auction received US$30.6 million while the SMEs auction received a total of US$2.2 million.

Also Read: THINGS YOU MIGHT NOT KNOW ABOUT GINIMBI

Genius Kadungure aka Ginimbi was a popular Zimbabwean socialite and businessman.

He was also the founder and Chief Executive Officer of a gas company, Pioneer Gases which has interests in Botswana, South Africa, and Zimbabwe. He was also the owner of Dreams Nightlife Club...read more