{"id":81457,"date":"2023-08-01T21:02:44","date_gmt":"2023-08-01T19:02:44","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwean-dollar-drops-slightly-against-usd-at-rbz-auction-2"},"modified":"2023-08-02T01:58:26","modified_gmt":"2023-08-01T23:58:26","slug":"zimbabwean-dollar-drops-slightly-against-usd-at-rbz-auction-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/zimbabwean-dollar-drops-slightly-against-usd-at-rbz-auction-2","title":{"rendered":"Zimbabwean Dollar Drops Slightly Against USD At RBZ Auction"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>The Zimbabwean dollar slightly depreciated against the United States dollar (USD) at the Reserve Bank of Zimbabwe (RBZ) wholesale foreign exchange auction held on August 1, 2023. According to the RBZ, the USD was sold at ZW$4,542.3710, compared to ZW$4,505.4232 on July 25. The majority of the foreign currency was used to purchase raw materials, followed by machinery and equipment.<\/p>\n<p>The Zimbabwean dollar has been steadily strengthening against the USD in recent weeks, but the latest results indicate a shift in the trend. The strengthening of the Zimbabwean dollar has been attributed to the government\u2019s implementation of various measures to stabilize the economy and the local currency.<\/p>\n<p>One such measure includes the restriction of foreign currency in local transactions, with the Zimbabwean dollar being the sole legal tender for some domestic transactions such as taxes. This has resulted in a reduction of the money supply in the market, although some analysts have accused authorities of hoarding the Zimbabwean dollar to create an artificial shortage.<\/p>\n<p>Despite the recent stability of the Zimbabwean dollar, it remains to be seen if it is sustainable. Zimbabwe has attempted to reintroduce its local currency in the past with little success, with analysts citing a lack of public confidence, particularly following the hyperinflation experienced in 2008 and subsequent loss of money due to policy changes.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/zimbabwe\">Zimbabwe<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. The Zimbabwean dollar slightly depreciated against the United States dollar (USD) at the Reserve Bank of Zimbabwe (RBZ) wholesale foreign exchange auction held on August 1, 2023. According to the RBZ, the USD was sold at ZW$4,542.3710, compared to ZW$4,505.4232 on July 25. The majority of the foreign currency was used to [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":81456,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,8156,19],"class_list":{"0":"post-81457","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-rbz-auction","12":"tag-zimbabwe"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zimbabwean Dollar Drops Slightly Against USD At RBZ Auction - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Zimbabwean dollar slightly depreciated against the United States dollar (USD) at the Reserve Bank of Zimbabwe (RBZ) ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwean-dollar-drops-slightly-against-usd-at-rbz-auction-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zimbabwean Dollar Drops Slightly Against USD At RBZ Auction\" \/>\n<meta property=\"og:description\" content=\"The Zimbabwean dollar slightly depreciated against the United States dollar (USD) at the Reserve Bank of Zimbabwe (RBZ) ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwean-dollar-drops-slightly-against-usd-at-rbz-auction-2\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-01T19:02:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-01T23:58:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/08\/sm_1690917893.034032.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"471\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwean-dollar-drops-slightly-against-usd-at-rbz-auction-2\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwean-dollar-drops-slightly-against-usd-at-rbz-auction-2\",\"name\":\"Zimbabwean Dollar Drops Slightly Against USD At RBZ Auction - 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