Zimdollar closes at ZW$65.87 against USD

Ndakaziva Majaka

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
ZW$57,35.

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.