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|
|Number of Bids Disqualified||27||22|
|Total Number of Bids Accepted||987||362|
|Total Number of Bids Allotted||987||362|
|Total Value of Bids Accepted||USD5,344,407.74||USD27,455,844.97|
|Highest Rate Received||156.0000||155.0000|
|Lowest Bid Rate Allotted||135.0000||138.0000|
|Weighted Average Rate||145.8721|
|PURPOSE||AMOUNT ALLOTTED SME AUCTION||AMOUNT ALLOTTED MAIN AUCTION|
|Machinery and Equipment||1,822,353.87||6,147,142.15|
|Consumables (Incl. Spares, Tyres, Electricals, etc)||741,667.68||2,206,114.68|
|Services (Loans, Education, Dividends, Disinvestments, etc)||508,531.55||1,981,989.39|
|Retail and Distribution (Incl. Food, Beverages, etc)||454,214.21||2,284,519.89|
|Pharmaceuticals and Chemicals||207,543.39||1,381,449.14|
|Paper and Packaging||110,632.69||679,268.37|
|GRAND TOTAL AWARDED||32,800,252.71|