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RBZ Forex Auction Results – 05 April 2022

The value of the Zimbabwe dollar continued on its downward spiral on the Reserve Bank of Zimbabwe (RBZ) forex auction.

On Tuesday, 5 April 2022, the weighted average fell to US$1: ZWL$145.8721 from US$1: ZWL$142.4237 which was reported by the RBZ last Tuesday, 29 March 2022.

In total, US$32.8 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.

1 014 bids were received on the Small to Medium enterprises forex auction, with 987 accepted and 27 disqualified. The total number of bids allotted was 987.

On the main forex auction, a total of 384 bids were received, 362 were accepted and 22 were disqualified. The total number of bids allotted was 362.

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

SMEFX82/2022

1 014

MAIN FX88/2022

384

Number of Bids Disqualified2722
Total Number of Bids Accepted987362
Total Number of Bids Allotted987362
Total Value of Bids AcceptedUSD5,344,407.74USD27,455,844.97
Amount AllottedUSD5,344,407.74USD27,455,844.97
Highest Rate Received156.0000155.0000
Lowest Bid Rate Allotted135.0000138.0000
Weighted Average Rate145.8721

 

PURPOSEAMOUNT ALLOTTED SME AUCTIONAMOUNT ALLOTTED MAIN AUCTION
Raw Materials1,484,964.3512,775,361.35
Machinery and Equipment1,822,353.876,147,142.15
Consumables (Incl. Spares, Tyres, Electricals, etc)741,667.682,206,114.68
Services (Loans, Education, Dividends, Disinvestments, etc)508,531.551,981,989.39
Retail and Distribution (Incl. Food, Beverages, etc)454,214.212,284,519.89
Electricity14,500.00
Pharmaceuticals and Chemicals207,543.391,381,449.14
Paper and Packaging110,632.69679,268.37
TOTAL5,344,407.7427,455,844.97
GRAND TOTAL AWARDED32,800,252.71

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