Zimbabwe forex auction allots record US$33.3 million as dollar falls by 6 cents


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A record US$33.3 million was today allotted to 410 bids, 166 in the small and enterprise sector, as the local currency fell by six cents to average $81.88 against the United States dollar

A total of US$533.1million has been disbursed since the auction was introduced on 23 June.

This week the highest offer was $90, a drop from $88.33 last week and the lowest remained at $80.

The Zimbabwe dollar has been on the decline since the 27 October auction when it averaged $81.35 but it has remained below $82.

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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