RBZ Forex Auction: Zimbabwe Dollar Fell Marginally Against USD

The Zimbabwe dollar fell marginally against the United States Dollar (USD) as indicated by results from the Reserve Bank of Zimbabwe’s Foreign Exchange (Forex) Auction.

According to the results from the Tuesday, 13 April 2021 RBZ forex auction, the weighted average this week fell marginally from US$1: ZWL$84. 3970 last week to ZWL$84. 4827 this week.

US$3.7 million was allocated to the Small to Medium enterprises forex auction while US$29 million was allocated to the main forex auction.

In total, US$33 million was allotted this week, with the bulk of the allotment (US$14.6 million) going to raw materials followed by machinery and equipment (US$6 million).

298 bids were received on the Small to Medium enterprises forex auction, with 257 accepted and 41 disqualified.

On the main forex auction, a total of 316 bids were received, 267 were accepted while 49 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 AUCTIONAMOUNT ALLOTTED MAIN AUCTION
Raw Materials1,045,035.5513,631,643.45
Machinery and Equipment709,343.365,573,039.47
Consumables (Incl. Spares, Tyres, Electricals, etc)962,300.091,464,270.32
Services (Loans, Education, Dividends, Disinvestments, etc)223,047.332,410,695.77
Retail and Distribution (Incl. Food, Beverages, etc)366,024.432,319,489.46
Fuel, Electricity and Gas176,263.341,747,149.46
Pharmaceuticals and Chemicals163,698.611,908,556.73
Paper and Packaging103,563.16119,962.50
TOTAL3,749,275.8729,174,807.16
GRAND TOTAL AWARDED32,924,083.03

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