Zim$ trades at 90,08 against US$

Sikhulekelani Moyo, Business Reporter

THE Zimbabwe dollar this week trades at 90,08 against United States dollar weakening by 1,7 percentage of points from last week’s rate of 88,55.

A total of US$36,4 million was allotted at yesterday’s auction compared to US$46,5 million last week.

The amount allotted to the main auction was US$28,4 million while US$8 million was allotted to through the Small to Medium Enterprises auction.

For raw material procurement, US$13,4 million was allotted by both the SME and the main auction while US$10,3 went to support equipment and machinery procurement.

The SMEs auction received 1 256 bids from which 60 were disqualified while the main auction received 519 bids where 31 were disqualified. -@SikhulekelaniM1