The Zimbabwe dollar today shed $4.66 to average $626.1893 to the United States dollar confirming the stability that it has enjoyed since the government introduced measures to shore up the local currency three months ago.
A total of US$10.5 million was allotted to 124 small companies and 64 large firms today with offers ranging from $590 to $660.
Black marker rates at Zimpricecheck ranged from $700 to $820.
The Reserve Bank of Zimbabwe’s Monetary Policy Committee was satisfied with the convergence of the official and parallel market rates, saying that the premium, now between 5 and 15%, was in line with international norms.
The premium was 146% in May.
Source: Insiderzim
