Zimbabwean Dollar Slides Marginally Against USD, Now At 83.3994
3 years agoTue, 25 Aug 2020 16:04:45 GMT
The Zimbabwe dollar has continued to lose its ground against the US dollar at the forex auction system conducted on Tuesday, 25 August 2020.
The local currency slumped marginally again this week from ZWL$82.9184 last week to ZWL$83.3994 this week to the United States Dollar.
The results are as follows:
| Amount Allotted | US$960 791.84 | US$14 064 871.90 |
| The Highest Rate | 88.0000 | 88.0000 |
| The Lowest Rate | 75.0000 | 80.0000 |
| Lowest Accepted Rate | 75.0000 | 80.0000 |
| Total Bids Accepted | US$960 791.84 | US$14 064 871.90 |
| Number of Bids Received | 85 | 139 |
| Number of Bids Disqualified | 10 | 33 |
Forex Auction Weighted Average Rate: ZWL$83.3994
| PURPOSE | Amount Allotted SME Auction (US$) | Amount Allotted Main Auction (US$) |
| Raw Materials | 207 931.76 | 4 970 224.02 |
| Machinery and Equipment | 162 741.26 | 3 870 515.84 |
| Consumables (incl Spare, Tyres, Electricals) | 151 749.85 | 1 671 224.20 |
| Pharmaceuticals and Chemicals | 140 450.41 | 1 470 373.59 |
| Services (Loans, Dividends, Disinvestments, etc) | 137 101.50 | 843 215.51 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 98 700.00 | 766 098.49 |
| Fuel, Electricity and Gas | 32 797.06 | 358 564.78 |
| Paper and Packaging | 29 320.00 | 114 655.47 |
| Total | 960 791.84 | 14 064 871.90 |
Grand Total US$15 025 663.74
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