THE Zimbabwe dollar fell 5% to $72,14 against the greenback yesterday at the central bank’s foreign currency auction.
BY BUSINESS REPORTER
At last week’s auction, bidding ended at a rate of US$1:$68,88 The highest bid at the end of yesterday’s foreign currency auction was US$1:82,17 while the lowest was US$1:$55, indicating some bidders continue to buy the greenback at below its true value.
Last week, the highest bid was $85 and the lowest, $40, against the greenback.
The Reserve Bank of Zimbabwe has not published a list of bidders and bids made despite promising transparency at the inception of the foreign currency auction system.
The total amount allotted was US$14 853 708,88 from total bids worth US$20 316 134,74. Last week, the total amount allotted at the fourth session of the foreign currency auction was US$15 988 219,59 from total bids of US$18 719 664,66.
Meanwhile, the Zimdollar was yesterday trading at US$1:120 on the black market.
