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RBZ Forex Auction Results – 13 July 2021

2 years agoTue, 13 Jul 2021 15:25:07 GMT
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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.

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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

584

MAIN FX53/2021

381

Number of Bids Disqualified : 32 30
Total Number of Bids Accepted : 552 351
Total Number of Bids Allotted : 552 351
Total Value of Bids Accepted : USD8,439,127.69 USD36,682,230.81
Amount Allotted : USD8,439,127.69 USD36,682,230.81
Highest Rate Received : 90.0000 90.0000
Lowest Bid Rate Received : 82.0000 82.0000
Lowest Bid Rate Allotted : 82.0000 82.0000
Weighted Average Rate : 85.5099
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,855,265.04 15,300,224.02
Machinery and Equipment 2,442,216.02 7,894,924.87
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,690,620.68 2,690,225.08
Services (Loans, Education, Dividends, Disinvestments, etc) 575,760.19 1,791,011.44
Retail and Distribution (Incl. Food, Beverages, etc) 811,269.47 3,721,669.82
Fuel, Electricity and Gas 323,011.21 1,747,233.43
Pharmaceuticals and Chemicals 444,991.38 2,618,290.28
Paper and Packaging 295,993.70 918,651.87
TOTAL 8,439,127.69 36,682,230.81
GRAND TOTAL AWARDED 45,121,358.50

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