Zim dollar gains 1.2 percent

16 Sep, 2020 - 00:09 0 Views
Zim dollar gains 1.2 percent

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.

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