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$6.71).
183 bids were received on the Small to Medium enterprises forex auction, with 160 accepted and 23 disqualified.
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On the main forex auction, a total of 301 bids were received, 267 were accepted while 34 were disqualified.
The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said.
| Purpose | Amount Allotted SME Auction (US$) | Amount Allotted Main Auction (US$) |
|---|---|---|
| Raw Materials | 613 448.97 | 16 141 537.62 |
| Machinery and Equipment | 485 101.40 | 6 232 922.02 |
| Consumables (incl Spare, Tyres, Electricals) | 714 924.93 | 2 156 924.38 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 206 427.25 | 1 818 742.38 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 211 500.25 | 2 357 818.73 |
| Fuel, Electricity and Gas | 171 870.25 | 2 357 818.73 |
| Pharmaceuticals and Chemicals | 156 065.84 | 2 374 832.50 |
| Paper and Packaging | 20 235.00 | 512 200.75 |
| Total | 2 579 2 579 573.89 | 34 615 283.93 |
