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RBZ Forex Auction Results – 08 March 2022

The local currency has further depreciated against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 8 March 2022.

This week the weighted average was US$1: ZWL$130.1567 down from the 1 March 2022 rate that stood at US$1: ZWL$127.4864.

In total, US$35.8 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week.

936 bids were received on the Small to Medium enterprises forex auction, with 865 accepted and 71 disqualified. The total number of bids allotted was 778.

On the main forex auction, a total of 410 bids were received, 377 were accepted and 33 were disqualified. The total number of bids allotted was 355.

The RBZ said 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.

Number of Bids Received :936410
Number of Bids Disqualified7133
Total Number of Bids Accepted :865377
Total Number of Bids Allotted :778355
Total Value of Bids Accepted :USD7,611,522.31USD29,656,084.19
Amount Allotted :USD7,209,867.35USD28,632,570.60
Highest Rate Received :145.0000145.0000
Lowest Bid Rate Allotted :125.5800127.0000
Weighted Average Rate :130.1567

 

PURPOSEAMOUNT ALLOTTED SME AUCTIONAMOUNT ALLOTTED MAIN AUCTION
Raw Materials1,782,463.4911,787,591.18
Machinery and Equipment2,229,658.997,085,195.79
Consumables (Incl. Spares, Tyres, Electricals, etc)1,148,388.181,896,608.79
Services (Loans, Education, Dividends, Disinvestments, etc)751,761.211,670,724.91
Retail and Distribution (Incl. Food, Beverages, etc)684,521.553,664,142.68
Electricity29,519.0050,000.00
Pharmaceuticals and Chemicals424,077.571,572,392.12
Paper and Packaging159,477.36905,915.13
TOTAL7,209,867.3528,632,570.60
GRAND TOTAL AWARDED 35,842,437.95

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