US$37.19m Allotted On RBZ Forex Auction

The Zimbabwe dollar slid against the greenback on the Foreign Exchange Auction conducted today, 23 February 2021.

The weighted average this week fell marginally from US$1: ZWL$83.7573 last week to US$1: ZWL$83.8868 this week.

US$2.57 million was allocated to the Small to Medium enterprises forex auction while US$34.61 was allocated to the main forex auction.

In total, US$37.19 million was allotted this week, with the bulk of the allotment (US$16.75 million) going to raw materials followed by machinery and equipment (US$6.71).

183 bids were received on the Small to Medium enterprises forex auction, with 160 accepted and 23 disqualified.

On the main forex auction, a total of 301 bids were received, 267 were accepted while 34 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.

PurposeAmount Allotted SME Auction (US$)Amount Allotted Main Auction (US$)
Raw Materials613 448.9716 141 537.62
Machinery and Equipment485 101.406 232 922.02
Consumables (incl Spare, Tyres, Electricals)714 924.932 156 924.38
Services (Loans, Education, Dividends, Disinvestments, etc)206 427.251 818 742.38
Retail and Distribution (Incl. Food, Beverages, etc)211 500.252 357 818.73
Fuel, Electricity and Gas171 870.252 357 818.73
Pharmaceuticals and Chemicals156 065.842 374 832.50
Paper and Packaging20 235.00512 200.75
Total2 579 2 579 573.8934 615 283.93

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