As the ruling exchange rate set on the major weekly auction slid just 4.8 percent yesterday to $80.4663 to US$1, the Reserve Bank of Zimbabwe (RBZ) announced the introduction of a second weekly Thursday auction for small and medium businesses needing to buy US$2 500 to US$20 000.
Yesterday's "big-bidder" auction, where bids have to be for between US$50 000 and US$500 000, saw a large pool of US$18 531 336.74 allocated for the 201 valid bids totalling US$19 773 961.25.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article