Zimbabwe: Zim Dollar Official Rate Converges With Black Market Premium On RBZ Auction

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Dollar Official Rate Converges With Black Market Premium On Reserve Bank Auction NewZimbabweCom: Zimbabwe

A trading update released at the close of business Tuesday shows that the official exchange rate deteriorated by 3% to close the day at US$1: ZW$ 856.

"We have reached convergence which is a key ingredient to economic stability. Interestingly, allotments at US$20,2 million made this week is an indication that the platform is stretching out to respond to the needs of the wider population and rising demand in the economy," he said.

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