eBusiness Weekly
Business Writer
The Zimbabwe dollar was stronger again yesterday after it gained 1.2 percent to trade at $81,70 against the US dollar.
The gains come amid growing confidence that the official foreign currency auction trading system is a reliable source of foreign currency for business.
Yesterday’s gain is the third in three consecutive weeks and saw the highest amount of foreign currency at US$21,16 million being alloted.
Of that amount, US$1,14 million was alloted to SMEs.
As has been the trend since inception, the bulk of the forex amounting to $8,7 million was alloted for the procurement of raw materials.
Some bids were however alloted on a pro-rate basis to confirm with the import priority list.
