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RBZ Auction Results: Zim Dollar loses ZW$0.0041 Value

By Staff Writer October 20, 2020468 views

“Deposits currently amount to $80 billion in terms of local currency and the nostro deposits are at $1, 2 billion. So you see there has been a big improvement if you compare with previous years.”RBZ Governor Dr John Panonetsa Mangudya's foreign exchange auction system has produced positive results since its introduction in June last year, reducing annual inflation to 194 percent in April this year from 837 percent in July last year.

The Reserve Bank of Zimbabwe (RBZ) Tuesday conducted its weekly foreign currency auction which saw the local currency losing ZWL$0.0041 value against the United States Dollar.

The Zimbabwean dollar’s official exchange rate to the US dollar stands at 81,3499 today. Last week, the rate was 81,3458.

Here are the results of today’s forex auction.