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New Zimdollar to US$ rate unveiled

by Mandla Ndlovu
30 Jun 2020 at 21:27hrs | Views
The Zimbabwe Dollar has done a nosedive at a  forex auction conducted this Tuesday seeing the United States dollar (as ZBC termed it) firming from last week's 57 to 63.74.

The nosedive comes after the Reserve Bank of Zimbabwe removed the 1:25 fixed rate allowing for a bidding process to control the rate.

The Old  Mutual Implied Rate which  is regarded as  a forecast of the rate currently pits e rate at 1:122.22

Source - Byo24News