Forex auction resumes mid-January

STAFF WRITER

The Reserve Bank of Zimbabwe says the foreign currency auction system will resume mid-next month as many companies have gone on the traditional annual shutdown.

They are expected to resume operations mid-mext month.

In its latest report, the central bank’s Monetary Policy Committee said it has resolved that the next post-festive season foreign currency auction will be on 12 January 2020.

The auction system was re-introduced in June this year and has helped to stabilise the exchange rate with the Zimbabwe dollar trading at ZWL$81.7866 to the United States dollar last week