RBZ Foreign Currency Auction Results: 21 September 2021

The Zimbabwe dollar (ZWL$) continues to lose value against the US dollar as indicated by the results of the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 21 September 2021.

Last week the weighted average was US$1: ZWL$86.3010 and fell to US$1: ZWL$86.9267 this week.

This week, US$9.8 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$38.8 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

1082 bids were received on the Small to Medium enterprises forex auction, with 1023 accepted and 59 disqualified.

On the main forex auction, a total of 443 bids were received, 410 were accepted while 33 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 FX58/2021


MAIN FX60/2021


Number of Bids Disqualified :5933
Total Number of Bids Accepted :1023410
Total Number of Bids Allotted :1023410
Total Value of Bids Accepted :USD 12 073 518.56USD 34 894 442.49
Amount Allotted :USD 9,779,692.35USD29,002,007.15
Highest Rate Received :97.200095.0000
Lowest Bid Rate Received :85.000085.0000
Lowest Bid Rate Allotted :85.000085.0000
Weighted Average Rate :86.9267 
Raw Materials3,004,873.0612,642,805.59
Machinery and Equipment3,030,865.816,594,991.86
Consumables (Incl. Spares, Tyres, Electricals, etc)1,492,637.162,632,044.47
Services (Loans, Education, Dividends, Disinvestments, etc)599,110.941,204,631.57
Retail and Distribution (Incl. Food, Beverages, etc)819,992.523,262,929.05
Fuel, Electricity and Gas20,482.410.00
Pharmaceuticals and Chemicals495,895.861,942,533.00
Paper and Packaging315,834.59722,071.61


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3 comments on “RBZ Foreign Currency Auction Results: 21 September 2021

  1. All the above figures and calculations from the Reserve Bank currency auction are all well and good but how about giving us figures showing the 12 week backlog of successful bids that are still waiting for their forex to arrive? Our accounts get debited immediately to pay for the successful bid but then we wait 3 months to get the actual forex!!!!

  2. G Jones: what do you do with your cheap forex? I think you you sell it at the street price, much like just about everyone else does with their allocated funds. You are part of the problem of Zimbabwe.

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