Business Reporter
THE Zim dollar value has remained firm on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction slightly depreciating by just 0,55% at the close of trading this week.
The central bank Tuesday reported the official rate indexed against the ZWL weakened slightly to US$1: ZW$4 542 from a premium of ZW$4 517 signifying a 0, 55%.
The local currency has remained firm since June 2023 when it significantly recovered against the greenback after taking a nose dive which saw the value of the local currency depreciating to a low of US$1: ZW$75 000.
On the Retail Platform, a grand total of US$497 893 was allotted with priority going towards supporting productivity related needs.
As a result, Raw materials were allotted US$128 132, machinery and equipment US$282 872, Services US$69 961, Retail and Distribution US$49 618, Paper and Packaging US$17 803.
On the Wholesale platform, the total amount allotted on the Wholesale Auction was US$15, 9 million. Bids submitted on the platform during the day had a total US$17 million.
