Zim Dollar strengthens

The Zimbabwe dollar gained for the fourth week running at this week’s foreign currency auction, where about US$11 million of the US$20 million that was available was taken up.

The local currency, which was trading at $4 998,83 last week, gained slightly above $200 to trade at $4 771,38 to the US dollar.

All the 15 bids worth US$11 597 990 that were received were accepted and allotted.

The highest rate received was $4 900,15, while the lowest was $4 500, to give an average weighted rate of $4 771,38.