Zim dollar retreats as RBZ forex auction resumes

By Davison Vandira

THE Reserve Bank of Zimbabwe Foreign Currency Auction resumed this Tuesday, with the Zimbabwe dollar trading at one hundred and twelve dollars and eighty-two cents to the United States dollar.

A total of almost US$31 million was allocated to various economic activities.

As has become the tradition of the forex auction, raw materials accounted for the largest chunk with US$12.4 million, while machinery and equipment came second with US$8.5 million.

Services, Retail and Distribution, Electricity, Pharmaceuticals, Chemicals, Paper and Packaging all combined accounted for US$10.1 million.

A total of 812 bids were accepted and subsequently allotted in full.

The post Zim dollar retreats as RBZ forex auction resumes appeared first on ZBC NEWS.

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