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Zimbabwe’s official exchange rate stabilised Tuesday after three weeks that marked a rapid depreciation of the local currency largely blamed on currency manipulators in the market.
Tuesday’s Reserve Bank of Zimbabwe (RBZ) foreign currency exchange auction closed with the Zimbabwe dollar officially trading at a weighted average of Z$6 926.57 against the United States dollar, a slight slide from last week’s 5 978.67.
A grand US$1 135 542.46 was awarded with the highest bid rate standing at 7 300 and 6 600 for the lowest. Nhau/Indaba
