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Forex Auction Results: Zimbabwe Dollar In Marginal Gain, Now ZWL$82.0833

The Zimbabwe dollar has firmed slightly against the greenback on the Foreign Exchange Auction conducted today, 19 January 2021.

The weighted average this week fell marginally from ZWL$82.0914 last week to ZWL$82.0833 this week.

US$2.8 million was allocated to the Small to Medium enterprises forex auction while US$32.4 was allocated to the main forex auction.

In total, US$35.3 million was allotted this week, with the bulk of the allotment (US$15.5 million) going to raw materials.

228 bids were received on the Small to Medium enterprises forex auction, with 219 accepted and 9 disqualified. On the main forex auction, a total of 289 bids were received, 260 were accepted while 29 were disqualified.

The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.

Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.

Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said.

NB: The story has been updated to correct the earlier report which indicated that the rate this week is at ZWL$81.0833

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