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Monday, April 22, 2024
HomeBusinessRBZ Weekly Forex Auction Breaks For Festive Holiday

RBZ Weekly Forex Auction Breaks For Festive Holiday

The Reserve Bank of Zimbabwe (RBZ) foreign currency auction will take a three-week break as companies close for festive holidays.

The latest weekly auction results were due this afternoon.

In an update, the RBZ said the auction will only resume next year.

“As the festive season is upon us, the next foreign exchange auction will be on 9 January 2023, after the one scheduled for 13 December 2022.”

Emirates

The auction system has been critical in availing foreign currency to local industry since its introduction some two year ago.

In last week auction the Zimbabwe dollar shed 1.01% to settle at 661.5605 against the US dollar as it continues to trail parallel market rates.

The interbank rate continues to be the reference for the official value of the Zimbabwe Dollar.

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