Business / Local
New Zimdollar to US$ rate unveiled
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
The nosedive comes after the Reserve Bank of Zimbabwe removed the 1:25 fixed rate allowing for a bidding process to control the rate.
Source - Byo24News
