“Official” ZW$ To US$ Rate Now At 63

The second interbank auction was held earlier today and the ZW$:US$ is now at 1:63.7. The FX auction availed US$16.3 million this week, up from last week’s US$10 million.

The highest bid was ZW$92 and the lowest was ZW$37. The weighted average was ZW$63.7 up slightly from $57.3 we saw last week.

Again demand continues to outweigh supply; bidders wanted US$18.9m but the market only provided the aforementioned US$16.3m.

Also, check out our new Forex Rates page which contains the official rates, along with black market and Old Mutual Implied Rates. There’s also explains on that page with details on what the black market and OMIR are.