The Zimbabwe dollar closed Tuesday’s auction down to $65.87 to the US dollar as the country continues in price discovery.
Last week, the rate was at ZW$63,74 to the USD from a maiden offering of
This means the obtaining official Zimbabwe dollar exchange rate to the US
dollar is now ZW$65.87 until next Tuesday.
In a statement, the Reserve Bank of Zimbabwe said $15.8 million bids had
been received and $13.6 million successfully allotted.
The highest bid rate stood at ZW$90: USD while the lowest bid recorded was ZW$30, with ZW$55 the lowest accepted rate.
Zimbabwe’s exchange rate had been fixed at $1:25 since March 2020.
The manufacturing sector received the highest allotment of $5.6 million
while the lowest went to miners who received $160 000.