RBZ Forex Auction Results – 01 February 2022

The value of the Zimbabwe dollar has continued to fall against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction.

Data released by the central bank following the forex auction conducted on Tuesday, 01 February 2022 indicates that the local currency fell by $1.2277 against the US dollar.

This week the weighted average was US$1: ZWL116.6500 down from the 25 January 2022 rate that stood at US$1: ZWL$ $115.4223.

In total, US$37,548,580.33 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is a little bit lower than the US$38 775 772.07 million allotted last week.

901 bids were received on the Small to Medium enterprises forex auction, with 783 accepted and 118 disqualified. The total number of bids allotted was 783.

On the main forex auction, a total of 546 bids were received, 460 were accepted and 86 were disqualified. The total number of bids allotted was 437.

Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.

Some bids were also allotted on a pro-rata basis.

 SMEFX73/2022MAIN FX79/2022
Number of Bids Received :901546
Number of Bids Disqualified :11886
Total Number of Bids Accepted :783460
Total Number of Bids Allotted :783437
Total Value of Bids Accepted :USD6,773,484.47USD32,275,383.86
Amount Allotted :USD6,773,484.47USD30,775,095.86
Highest Rate Received :130.0000132.5000
Lowest Bid Rate Received :107.0000108.0000
Lowest Bid Rate Allotted :107.0000112.8200
Weighted Average Rate :116.6500 
Raw Materials1,584,646.8013,258,231.07
Machinery and Equipment2,147,777.517,024,692.98
Consumables (Incl. Spares, Tyres, Electricals, etc)961,908.642,750,638.64
Services (Loans, Education, Dividends, Disinvestments, etc)1,053,903.161,922,356.55
Retail and Distribution (Incl. Food, Beverages, etc)554,044.113,491,211.10
Pharmaceuticals and Chemicals314,122.621,490,692.27
Paper and Packaging147,081.63837,273.25

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