RBZ Foreign Currency Auction Results: 17 August 2021

The Zimbabwe dollar has fallen in value vis-à-vis the US dollar on the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 17 August 2021.

Last week the weighted average was US$1: ZWL$85.7467 but fell to ZWL$85.8290 this week.

This week, US$12.3 million was allocated to the Small to Medium Enterprises forex auction while US$36.7 million was allocated to the main forex auction.

In total, US$49.1 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

843 bids were received on the Small to Medium enterprises forex auction, with 764 accepted and 79 disqualified.

On the main forex auction, a total of 413 bids were received, 389 were accepted while 24 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 :843413
Number of Bids Disqualified :7924
Total Number of Bids Accepted :764389
Total Number of Bids Allotted :764389
Total Value of Bids Accepted :USD12,357,545.21USD38, 179,408.02
Amount Allotted :USD12,357,545.21USD36, 747,358.03
Highest Rate Received :90.000091.0000
Lowest Bid Rate Received :82.500082.5000
Lowest Bid Rate Allotted :82.500082.5000
Weighted Average Rate :85. 8290


Raw Materials2,602,606.6916,084,510.52
Machinery and Equipment2,916,795.178,720,467.04
Consumables (Incl. Spares, Tyres, Electricals, etc)3,063,886.092,187,488.80
Services (Loans, Education, Dividends, Disinvestments, etc)861,513.521,809,919.73
Retail and Distribution (Incl. Food, Beverages, etc)1,688,192.683,973,338.31
Fuel, Electricity and Gas253,910.321,678,523.58
Pharmaceuticals and Chemicals580,359.011,642,222.27
Paper and Packaging390,281.73650,887.78


Download the Pindula App for a better user experience.

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/EbOE8cWvMYyCNyLqi65db9

Telegram Group:

Back to top

2 comments on “RBZ Foreign Currency Auction Results: 17 August 2021

  1. Our local currency seems to have stabilized for quite sometime now. But what I don’t understand is this: doesn’t the government see the prizing chaos in the country where prizes are going up being increased everyday.

  2. And the difference between the Mtuli Ncube rate of $85 to 1 USD$ and the ‘street rate’ of nearly $150 to 1USD$ – doesn’t that tell you that something is terribly wrong in Zim.

Write a Comment

Your email address will not be published.

Share Full Post