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RBZ Foreign Currency Auction 10 May 2022: Zimbabwe Dollar Continues To Fall

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.

 

 SMEFX87/2022MAIN FX93/2022
Number of Bids Received :918434
Number of Bids Disqualified :4578
Total Number of Bids Accepted :873356
Total Number of Bids Allotted :845356
Total Value of Bids Accepted :USD4,132,275.84USD23,020,941.86
Amount Allotted :USD3,823,470.35USD23,020,941.86
Highest Rate Received: 240.0000205.5000
Lowest Bid Rate Allotted :165.0000166.0000
Weighted Average Rate : 173.2685

 

PURPOSEAMOUNT ALLOTTED MAIN AUCTIONAMOUNT ALLOTTED SME AUCTION
Raw Materials10,669,395.02943,388.28
Machinery and Equipment6,438,722.901,339,884.35
Consumables (Incl. Spares, Tyres, Electricals, etc)1,664,849.84484,561.52
Services (Loans, Education, Dividends, Disinvestments, etc)1,516,399.85405,151.21
Retail and Distribution (Incl. Food, Beverages, etc)1,537,387.23331,397.71
Electricity33,517.002,500.00
Pharmaceuticals and Chemicals663,221.81206,892.74
Paper and Packaging497,448.21109,694.54
TOTAL23,020,941.863,823,470.35
GRAND TOTAL AWARDED 26,844,412.21

 

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