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Zimbabwe Dollar Official Rate Now $4 998 To The US Dollar

1 year agoTue, 11 Jul 2023 13:26:51 GMT

Zimbabwe Dollar Official Rate Now $4 998 To The US Dollar

The Zimbabwe dollar on Tuesday, 11 July further strengthened against the US dollar on the Reserve Bank of Zimbabwe forex auction.

According to the Wholesale Foreign Exchange Auction Results today, the weighted average was ZWL$4 998.8352.

This is a significant recovery from last week as the weighted average was ZWL$5 251.0640 at the Wholesale Foreign Exchange Auction Results of 06 June 2023.

Today, 10 bids were received from banks, and all 10 bids were accepted but only 8 bids were allotted.

The RBZ said that the total value of bids accepted was US$5 830 000.00, while US$5 640 000.00 was allotted.

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The amount on offer was US$20 000 000.00.

The highest bid rate was ZWL$5 353.7221 while the lowest bid rate was ZWL$4 900.0000.

Meanwhile, the RBZ awarded US$460,130.60 to the retail auction.

The central bank also said all bids for the retail auction within the pre-announced amount were allotted in full.

It added that all bids for the retail auction with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.

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23 Comments

Blue💙 · 1 year ago

What is Hanke saying with all these gains the Zim dollar has made? I would celebrate tbis recent turn of events. We need a stable local currency that's for sure

CHAWABVUNZA · 1 year ago

Why should the government want to force businesses to reduce prices on the understanding that Zimbabwe dollar is firming yet businesses get their money from the black market where it still usd 1:8000 ftgs ? [ NEVER EVER VOTE FOR GOLD MAFIA CRIMINALS AND MONEY LAUNDERS ]. At Magunje His Excellency Advocate President ED Mnangagwa threated businesses with arrest if they do not reduce their prices. Threats have never been good business principles. This is my story and I will stick to it. [ THE BUSH LAWYER4CCC ].

Anonymous · 1 year ago

Get a grip! The deliberate manipulative run on the RTGS was a political ZPF ploy. Let it run way out so they can pull it back through manipulation and say look how well the 2nd republic is doing. Saving the Zim Dollar. Election BS! Don’t fall for this kak!

Anonymous · 1 year ago

Infact let them just ban this US$ we are not trading with US anyway.I dont see a need for us to continue with it.

. · 1 year ago

If they ban it, how do you pay for imports since you killed manufacturing industry?

Ii · 1 year ago

Well exactly ...

ini zvangu · 1 year ago

Zvatanga zvekutengeserana ma US$ at half the ACTUAL price.

Anonymous · 1 year ago

Are you crazy. Why do you want to pay the U$ at a higher price? You don't make any sense.

Anonymous · 1 year ago

When the zim $ was falling on the RBZ auction, you were saying there is no manipulation bcse you enjoyed its falling. Now the Zim Dollar is gaining, you now say heee its manipulated bcse you want the zim $ to fall and you rejoice over it. This shows that you are a SABOTOUR.

Putin 🇷🇺🇷🇺🇷🇺 🐊🐊🐊 · 1 year ago

Kana radzika maPrice anodzikawo. NdezveFake mudhende

Ben · 1 year ago

RBZ manipulating / printing .... called corruption ..... stupd ... 😏👎🏻

Putin 🇷🇺🇷🇺🇷🇺 🐊🐊🐊 · 1 year ago

After realizing that the exchange rate was going wild, posing danger to us. We decided to use mathematics to temporarily rig economy so that we pass this mind-boggling elections. Actually the rate is now miles aways, treble the figure

Anonymous · 1 year ago

@ cde ostallos ......, one aspect of currency is that, it should be scarce. Zviye zvamaiita ne marii muchimira muzvi corner muchichinja mari muchi manipulater exchange rate zvaikonzerwa nekuwandisa kwemari. This is the right direction and they should make it even tighter. Go RBZ go.

Zuze · 1 year ago

Bond rinebasa rei nhaiwe nhoko.

Anonymous · 1 year ago

You have literally no idea how economics work, I'm sure it's illiterates like you in charge and that's why we continue to be amongst countries with the worst economy

cde ostallos chingwahachigutsi · 1 year ago

manipulated rate.... making fake scarcity of RTGS to create a non existing demand ... poor mthuli

Anonymous · 1 year ago

So wish the Zim dollar to further decline in strength ? Shame in Africans

Anonymous · 1 year ago

Controlling money supply is a very orthodox way to control inflation. Register yourself on an economics course.

Anonymous · 1 year ago

Civil servant are earning 100000rtgs comrade. When they get their increments and govt contractors get paid you will understand what Ostallos is saying. Handiti they are actually negotiating salaries as we speak.