Exchange rates reflect underlying economic and political conditions. The previous global financial crisis of 2007-2008 resulted in the depreciation of currencies, and the closure of various global financial institutions and companies as a result of high exchange rates. 

In Zimbabwe, it has been noticed that the due to the elections held earlier in August, the economic situation has made prices to increase and even the RBZ exchange rate has been rising significantly of recently. 

As we are in the 3rd week of September, the Zimbabwean dollar has further lost its value by 2,1% from ZWL$ 4,610.3894 it was trading at, on the 5th of September 2023. As of Tuesday this week, The RBZ exchange rate was trading at ZWL$ 4,712.1675 against the US dollar. This free fall of the local currency has driven rapid economic price increases.

On Tuesday, 12th of September 2023 Reserve Bank of Zimbabwe announced the Wholesale Foreign Exchange Auction rate results as done weekly. 19 bids were received from banks, with a total of US$18,726,643.25 allotted to 19 bids. The highest bid rate received was ZWL$ 4,800 while the lowest bid rate allowed was ZWL$ 4,650 giving a weighted average of ZWL$4,712.1675 which is the current wholesale auction rate.

The Exchange Rates are as below:

The following survey reports are always available

• Sectorial-Based Salary Survey Report

• National Salary Survey Report (Consolidation of 13 sectors)

• Non-Executive Directors Fees Survey Report

• Human Resource Policy Documents