Zim Dollar Crashes Again
14 June 2023
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By-The Reserve Bank of Zimbabwe (RBZ) has set the official exchange rate at almost ZWL$6 000 to the US dollar.

According to the results of the foreign exchange auction conducted on Tuesday, 13 June 2023, the wholesale weighted average was US$1: ZWL$5 978.6794.

On 06 June 2023, the weighted average was US$1: ZWL$3 673.7718, from US$1: ZWL$2 577.0564 on 30 May.

Today, the RBZ allotted a total of US$2,945,406.28, down from US$4,987,432.34 allotted last week, with the bulk of the allotment going to raw materials, followed by machinery and equipment.

The RBZ said that all bids within the pre-announced amount were allotted in full.

It said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient balances were also disqualified.

The RBZ added that starting the week beginning 19 June 2023, authorised dealers will submit bids for the two auctions, that is, the forex auction and the wholesale forex auction by 9 AM on Tuesdays.