HARARE, Feb. 28 (Xinhuanet) -- The Zimbabwean dollar depreciated by an average of six percent in January against a basket of six major trading partner currencies, a local financial institution said on Monday.

    In its latest financial monthly update, Financial Holdings Limited (Finhold) said the local currency fell by eight percent, seven percent and six percent against the Japanese yen, British pound and South African rand, respectively.

    It fell by four percent against the US dollar, six percent against the euro and five percent against the Botswana Pula.

    The Zimbabwe dollar was expected to fall further to about 6, 300 Zimbabwean dollars against the US dollar on the foreign currency auction market by March on the back of the continuously low foreign currency inflows, it said. Enditem