ZIM DOLLAR TUMBLES ON FIRST DAY OF AUCTION

THE Zimbabwe dollar shed nearly 79% of its value on the first day of being floated under a foreign currency auction system launched yesterday. At the close of the auction, the official exchange rate had crashed to US$1:57,3582 from US$1:25 in the latest endeavour by the central bank to stabilise the troubled currency. With the auction being held once a week, it means the currency will trade