People are confused following an announcement by the Reserve Bank of Zimbabwe of an additional foreign exchange auction that's designed to fit the forex needs of individuals Small and Medium Enterprises (SMEs). The Reserve Bank of Zimbabwe (the Bank) is pleased to advise the public of the introduction of a second foreign exchange auction system … Continue reading RBZ launches second Foreign Currency Auction, to announce new exchange rates twice per week
The new exchange rate has increased to ZWL$ 80.5 from last week's 76.75. This marks the 6 successive week of the Zimbabwe dollar's value falling since the inaugural Foreign Currency Auction. Black market exchange rate According to Zimpricecheck, the exchange rate on the black market is as follows: USD / ZWL$ ZIPIT/Bank $108.00 USD / … Continue reading 04/08 – New Official & Black market exchange rates
This week's Foreign Currency Auction settled settled for an exchange rate of ZWL$76.75. This is an increase from last week's exchange rate of ZWL$72.16. The new exchange rate also tells that the Zimbabwe dollar's value has depreciated a further 6% which is the biggest fall since the inaugural Auction. Black market exchange rate According to … Continue reading Foreign Currency Auction & Black market exchange rates
The 5th Foreign Exchange Auction has determined this week's exchange rate to be ZWL$72.14.Its another 4.5% percent depreciation of the Zimbabwe dollar's value from last week's exchange rate of ZWL$68.88 Black market rates According to Zimpricecheck, the black market rate is between ZWL$94 and ZWL$100 depending on whether you used ZIPIT, EcoCash, or OneMoney.
This week's exchange rate is ZWL$68.88 according to today's Foreign Exchange Auction. Last week's exchange rate was ZWL$$ 65.87. So it means the Zimbabwe dollar has lost 4.5% of its value on the official market. What transpired on the Auction This week's highest bid was ZWL$85 and the lowest bid was ZWL$40. As for last … Continue reading 14/07: This week’s official rate is out, Zim dollar value down by 4.5%
Moneychangers have started selling US$1 notes at a 10% premium to retailers looking for change to give customers. Lately, US$1 notes have mysteriously become scarce and, as a result, it has caused serious problems of change. As a result, moneychangers have started selling US$1 notes at a premium of ZWL$110 whilst the rest of US … Continue reading Moneychangers now selling US$1 notes at a premium
Cotton farmers are reportedly moaning over the protracted suspension of mobile money Merchant transactions. The farmers are asking the Reserve Bank of Zimbabwe to lift the ban so that ginneries can pay them their earnings through mobile money wallets. The central bank banned most of mobile money transactions last week to pave way for investigations … Continue reading Cotton farmers ask RBZ to lift suspension of mobile money transactions
Today marks the third week since the Foreign Currency Auction was launched. And today the official exchange rate that was determined by the auction is ZWL$$ 65.87 This represents a 3.2% depreciation of Zimbabwe dollar's value from last week's official exchange rate. However, a 3.2% depreciation is an improvement from last week's 11% depreciation. Bids … Continue reading 07/07: New official rate out, Zim dollar value down by 3.2%
The new official exchange rate has now been established after the foreign exchange auction system debuted today. How the Auction works The auction system allows companies to bid for foreign currency every Tuesday and the winning bidder receives the forex after they pay the equivalent Zimbabwe dollars. After the end of an auction sale every … Continue reading 23/06: RBZ reveals the new exchange rate
The first week of June ended yesterday and what is noteworthy is that the Reserve Bank of Zimbabwe didn't release the $20 Zim dollar notes as planned. In mid-May the central bank promised to inject $10 and $20 notes into economy in a bid to address biting cash shortages. In the statement, the RBZ stated … Continue reading RBZ delays release of $20 Zim dollar notes. Is it chickening out?