RBZ Foreign Currency Auction Results: 27/07/2021

The Zimbabwe dollar further weakened against the US dollar on the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday 20 June 2021.

Last week the weighted average was US$1: ZWL$85.6372, falling to US$1: ZWL$85.6402 this week.

Introducing the Pindula News Mobil App
Download from Google Play Store

This week, US$10 million was allocated to the Small to Medium Enterprises forex auction while US$37 million was allocated to the main forex auction.

In total, US$47 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

682 bids were received on the Small to Medium enterprises forex auction, with 626 accepted and 56 disqualified.

On the main forex auction, a total of 394 bids were received, 356 were accepted while 38 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 :SME




Number of Bids Disqualified :5638
Total Number of Bids Accepted :626356
Total Number of Bids Allotted :626356
Total Value of Bids Accepted :USD9,933,403.94USD37,242,121.28
Amount Allotted :USD9,933,403.94USD37,242,121.28
Highest Rate Received :92.000091.0000
Lowest Bid Rate Received :82.000082.0000
Lowest Bid Rate Allotted :82.000082.0000
Weighted Average Rate :85.6402
Raw Materials2,618,337.5414,262,215.75
Machinery and Equipment2,571,114.318,981,866.50
Consumables (Incl. Spares, Tyres, Electricals, etc)1,848,155.351,896,941.25
Services (Loans, Education, Dividends, Disinvestments, etc)711,992.692,137,154.25
Retail and Distribution (Incl. Food, Beverages, etc)862,967.104,332,677.09
Fuel, Electricity and Gas286,143.711,987,585.65
Pharmaceuticals and Chemicals732,787.662,900,273.71
Paper and Packaging301,905.58743,407.07

More: Pindula News

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/DmWD38e3wX19qlUdot4KpJ

Telegram Group: https://t.me/pindula

Back to top

2 comments on “RBZ Foreign Currency Auction Results: 27/07/2021

Write a Comment

Your email address will not be published.

Share Full Post

Nyaradzo logo

RSS Recent Profiles Created

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.