Rates Ping Pong Around $20, Indicative Black Market Rates For 23 October 2019

For most parts of last week and the first two days of this week, rates have been play ping pong around the $20 ZWL with most dealers either paying that $20 ZWL while others are paying just below that mark for small amounts and just above, about $20.50 for large amounts.

We don’t expect that to change unless there is a dramatic change in the market. According to our good friends at MarketWatch rates usually, dip a bit midweek before making slight gains as we get towards the weekend so it’s possible they will firm around the $20.50 ZWL per USD as we get towards the weekend.

The interbank rate meanwhile has recovered and even made some gains after seeing all-round losses on Monday. It now stands at $15.51.

Yesterday’s closing rates