RBZ Forex Auction Results – 13 July 2021

The Zimbabwe dollar weakened slightly against the US dollar on the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday 13 June 2021.

Last week the weighted average was US$1: ZWL$85.5097, falling to US$1: ZWL$85.5099 this week.

This week US$8.43 million was allocated to the Small to Medium Enterprises forex auction while US$36.68 million was allocated to the main forex auction.

In total, US$45.12 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

584 bids were received on the Small to Medium enterprises forex auction, with 552 accepted and 32 disqualified.

On the main forex auction, a total of 381 bids were received, 351 were accepted while 30 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. Below is the RBZ summary of the forex auction:

Number of Bids Received :SMEFX47/2021


MAIN FX53/2021


Number of Bids Disqualified :3230
Total Number of Bids Accepted :552351
Total Number of Bids Allotted :552351
Total Value of Bids Accepted :USD8,439,127.69USD36,682,230.81
Amount Allotted :USD8,439,127.69USD36,682,230.81
Highest Rate Received :90.000090.0000
Lowest Bid Rate Received :82.000082.0000
Lowest Bid Rate Allotted :82.000082.0000
Weighted Average Rate :85.5099
Raw Materials1,855,265.0415,300,224.02
Machinery and Equipment2,442,216.027,894,924.87
Consumables (Incl. Spares, Tyres, Electricals, etc)1,690,620.682,690,225.08
Services (Loans, Education, Dividends, Disinvestments, etc)575,760.191,791,011.44
Retail and Distribution (Incl. Food, Beverages, etc)811,269.473,721,669.82
Fuel, Electricity and Gas323,011.211,747,233.43
Pharmaceuticals and Chemicals444,991.382,618,290.28
Paper and Packaging295,993.70918,651.87


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