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RBZ Foreign Currency Auction: Zimbabwe Dollar Continues To Shed Value Against USD

The Zimbabwe dollar has continued to lose value against the US dollar on the Reserve Bank of Zimbabwe (RBZ) forex auction.

On Tuesday, 26 April 2022, the weighted average fell to US$1: 159.3482 ZWL$ from US$1: ZWL$155.1419 which was reported by the RBZ on 20 April.

In total, US$30.4 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.

920 bids were received on the Small to Medium enterprises forex auction, with 869 accepted and 51 disqualified. The total number of bids allotted was 869.

On the main forex auction, a total of 428 bids were received, 392 were accepted and 36 were disqualified. The total number of bids allotted was 392.

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.

FOREIGN EXCHANGE AUCTION RESULTS 26 APRIL 2022SMEFX85/2022MAIN FX91/2022
Number of Bids Received :920428
Number of Bids Disqualified :5136
Total Number of Bids Accepted :869392
Total Number of Bids Allotted :869392
Total Value of Bids Accepted :USD4,522,761.60USD25,936,487.43
Amount Allotted :USD4,522,761.60USD25,936,487.43
Highest Rate Received :180.0000180.00000
Lowest Bid Rate Allotted :145.0000148.0000
Weighted Average Rate :159.3482 
PURPOSEAMOUNT ALLOTTED SME AUCTIONAMOUNT ALLOTTED MAIN AUCTION
Raw Materials1,219,251.7412,957,459.57
Machinery and Equipment1,527,835.835,419,206.84
Consumables (Incl. Spares, Tyres, Electricals, etc)534,565.971,867,234.18
Services (Loans, Education, Dividends, Disinvestments, etc)478,934.091,322,872.33
Retail and Distribution (Incl. Food, Beverages, etc)416,713.862,151,740.28
Electricity9,847.44100,000.00
Pharmaceuticals and Chemicals193,164.921,262,149.08
Paper and Packaging142,447.75855,825.15
TOTAL4,522,761.6025,936,487.43
GRAND TOTAL AWARDED30,459,249.03 

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