Home News Breaking: RBZ Hikes Bank Rate to 3 700: US1

Breaking: RBZ Hikes Bank Rate to 3 700: US1

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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$.

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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 …

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