Zimbabwe c bank ends 1st for ex auction

Zimbabwe's central bank has completed its first auctions of foreign currency in a new drive to clean up the financial sector and bring the black market to an end.

The Zimbabwe central bank traded foreign currency during its first auction at Z$4,196 to one U.S. dollar, sharply down from Z$6,000 the U.S. greenback fetched in December.

Commercial bankers who asked not to be named, said that less than US$5 million were traded at the auction. The next auction will be held on Thursday.

Major exporte

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