The foreign exchange weighted average rate has fallen to US$1: ZWL$173.2685 from US$1: ZWL$165.9942 which was reported by the Reserve Bank of Zimbabwe (RBZ) on 3 May.
At this week’s forex auction conducted on 10 May, a total of US$26.8 million was allotted. The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
918 bids were received on the Small to Medium enterprises forex auction, with 873 accepted and 45 disqualified. The total number of bids allotted was 845.
On the main forex auction, a total of 434 bids were received, 356 were accepted and 78 were disqualified. The total number of bids allotted was 356.
The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
|Number of Bids Received :||918||434|
|Number of Bids Disqualified :||45||78|
|Total Number of Bids Accepted :||873||356|
|Total Number of Bids Allotted :||845||356|
|Total Value of Bids Accepted :||USD4,132,275.84||USD23,020,941.86|
|Amount Allotted :||USD3,823,470.35||USD23,020,941.86|
|Highest Rate Received||: 240.0000||205.5000|
|Lowest Bid Rate Allotted :||165.0000||166.0000|
|Weighted Average Rate :||173.2685|
|PURPOSE||AMOUNT ALLOTTED MAIN AUCTION||AMOUNT ALLOTTED SME AUCTION|
|Machinery and Equipment||6,438,722.90||1,339,884.35|
|Consumables (Incl. Spares, Tyres, Electricals, etc)||1,664,849.84||484,561.52|
|Services (Loans, Education, Dividends, Disinvestments, etc)||1,516,399.85||405,151.21|
|Retail and Distribution (Incl. Food, Beverages, etc)||1,537,387.23||331,397.71|
|Pharmaceuticals and Chemicals||663,221.81||206,892.74|
|Paper and Packaging||497,448.21||109,694.54|
|GRAND TOTAL AWARDED||26,844,412.21|