{"id":81727,"date":"2023-08-08T21:49:35","date_gmt":"2023-08-08T19:49:35","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwean-dollar-depreciates-against-usd-at-rbz-auction-for-3rd-consecutive-week"},"modified":"2023-08-09T01:21:48","modified_gmt":"2023-08-08T23:21:48","slug":"zimbabwean-dollar-depreciates-against-usd-at-rbz-auction-for-3rd-consecutive-week","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/zimbabwean-dollar-depreciates-against-usd-at-rbz-auction-for-3rd-consecutive-week","title":{"rendered":"Zimbabwean Dollar Depreciates Against USD At RBZ Auction For 3rd Consecutive Week"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>The Zimbabwean dollar, for a third consecutive week, depreciated against the United States dollar (USD) at the Reserve Bank of Zimbabwe\u2019s (RBZ) wholesale foreign exchange auction held on August 8, 2023. According to the RBZ, the USD was sold at a rate of ZW$4,559.7414, compared to ZW$4,542.3710 on August 1, 2023. Notably, on July 25, the USD had been sold at a rate of ZW$4,505.4232. These figures indicate a consistent weakening of the Zimbabwean dollar against the USD in recent weeks. 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, for a third consecutive week, depreciated against the United States dollar (USD) at the Reserve Bank of Zimbabwe\u2019s (RBZ) wholesale foreign exchange auction held on August 8, 2023. According to the RBZ, the USD was sold at a rate of ZW$4,559.7414, compared to ZW$4,542.3710 on August 1, 2023. Notably, [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":81726,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,11306,11109,19,968],"class_list":{"0":"post-81727","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-forex-exchange-rate","12":"tag-rbz-auction-results","13":"tag-zimbabwe","14":"tag-zimbabwe-dollar"},"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 Depreciates Against USD At RBZ Auction For 3rd Consecutive Week - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Zimbabwean dollar, for a third consecutive week, depreciated against the United States dollar (USD) at the Reserve B ...\" \/>\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-depreciates-against-usd-at-rbz-auction-for-3rd-consecutive-week\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zimbabwean Dollar Depreciates Against USD At RBZ Auction For 3rd Consecutive Week\" \/>\n<meta property=\"og:description\" content=\"The Zimbabwean dollar, for a third consecutive week, depreciated against the United States dollar (USD) at the Reserve B ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwean-dollar-depreciates-against-usd-at-rbz-auction-for-3rd-consecutive-week\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-08T19:49:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-08T23:21:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/08\/sm_1691520551.102889.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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-depreciates-against-usd-at-rbz-auction-for-3rd-consecutive-week\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwean-dollar-depreciates-against-usd-at-rbz-auction-for-3rd-consecutive-week\",\"name\":\"Zimbabwean Dollar Depreciates Against USD At RBZ Auction For 3rd Consecutive Week - 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