The Reserve Bank of Zimbabwe has hiked the official bank rate to 3.700, closer to the parallel market rate of 4.000.
A closer look at this week’s trading update shows that on the SMEs Auction, a total of 298 bids were received out of which bidding rates reached a high of ZWL4,100. and a low of ZWL3,500. against the greenback.
Similarly, on the Main Auction platform, the number of bids received reached a high of ZWL4,100. and a low of ZWL3,555.0000 against the US$.
The official rate closed the day at ZWL3,673.7718: US$1 compared to the parallel market rate which currently stands at ZWL 4.000 as the widely accessible premium up to a high of ZWL4.100 on the highest end.
Below are the results …