Highlight of the week

The latest set of forex bids reflected a significant change in perceived ZW$ value relative to the US$, where both the bidding floor and ceilings made sizeable jumps.

Having bottomed-out at ZW$100 per US$ a week ago, bidding activity settled at ZW$106 as the new low. At the opposite end of the scale, bidders pulled last week’s ZW$126 peak bid up to ZW$130 per greenback.

As a result, the ZW$ lost ground to the US$, albeit at a slower rate than 2022’s opening auction.