Zimbabwe Dollar Breaches $100 Mark To Average Over $105 Against US Dollar

The Zimbabwe dollar has continued to lose value against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction, data from the RBZ forex auction conducted on Tuesday, 16 November 2021 shows.

 This week, the weighted average was US$1: ZWL$105.6965, a significant fall from last week’s rate that stood at US$1: ZWL$99.9301.

This week, US$5.52 million was allocated to the Small to Medium Enterprises forex auction while US$36.22 million was allocated to the main forex auction.

In total, US$41.74 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is down from the US$46.87 million allotted last week.

881 bids were received on the Small to Medium enterprises forex auction, with 693 accepted and 188 disqualified. The total number of bids allotted was 693.

On the main forex auction, a total of 623 bids were received, 420 were accepted and 203 were disqualified. The total number of bids allotted was 420.

The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.

Number of Bids Received881623
Number of Bids Disqualified188203
Total Number of Bids Accepted :693420
Total Number of Bids Allotted :693420
Total Value of Bids Accepted :USD5,520,428.32USD36,228,651.92
Amount Allotted :USD5,520,428.32USD36,228,651.92
Highest Rate Received :120.0000120.0000
Lowest Bid Rate Received :98.000099.0000
Lowest Bid Rate Allotted :98.000099.0000
Weighted Average Rate :105.6965

 

PURPOSEAMOUNT ALLOTTED SME AUCTIONAMOUNT ALLOTTED MAIN AUCTION
Raw Materials1,405,954.7317,774,247.85
Machinery and Equipment1,922,137.758,131,714.77
Consumables (Incl. Spares, Tyres, Electricals, etc)918,202.292,722,912.23
Services (Loans, Education, Dividends, Disinvestments, etc)452,103.472,333,735.28
Retail and Distribution (Incl. Food, Beverages, etc)444,542.242,392,568.40
Fuel, Electricity and Gas16837.1655,497.02
Pharmaceuticals and Chemicals239,740.131,797,632.32
Paper and Packaging120,964.551,020,344.05
TOTAL5,520,482.3236,228,651.92
GRAND TOTAL AWARDED 41,749,134.24

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