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RBZ Forex Auction: Zimbabwe Dollar Official Rate 21 June 2022

The Zimbabwe dollar continued to shed value against the United States dollar as observed at today’s foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ).

The foreign exchange weighted average rate has fallen to US$1: ZWL$ 352.0626 from US$1: ZWL$338.4921 announced by the RBZ last week.

At this week’s RBZ foreign currency auction conducted on Tuesday, 21 June 2022, a total of US$24.8 million was allotted.

The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.

770 bids were received on the Small to Medium enterprises forex auction, with 698 accepted and 72 disqualified. The total number of bids allotted was 688.

On the main forex auction, a total of 279 bids were received, 257 were accepted and 22 were disqualified. The total number of bids allotted was 254.

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. 

 SMEFX93/2022MAIN FX99/2022
Number of Bids Received :770279
Number of Bids Disqualified :7222
Total Number of Bids Accepted :698257
Total Number of Bids Allotted :688254
Total Value of Bids Accepted :USD3,532,866.47USD21,534,506.41
Amount Allotted :USD3,489,505.04USD21,408,737.57
Highest Rate Received :375.0000375.0000
Lowest Bid Rate Allotted :330.0000330.0000
Weighted Average Rate : 352.0626
PURPOSEAMOUNT ALLOTTED SME AUCTIONAMOUNT ALLOTTED MAIN AUCTION
Raw Materials957,593.4510,702,657.11
Machinery and Equipment1,232,585.885,147,821.43
Consumables (Incl. Spares, Tyres, Electricals, etc)374,354.351,119,943.76
Services (Loans, Education, Dividends, Disinvestments, etc)309,683.411,306,746.74
Retail and Distribution (Incl. Food, Beverages, etc)267,646.081,575,999.13
Electricity059,485.00
Pharmaceuticals and Chemicals176,963.701,088,300.65
Paper and Packaging170,678.17407,783.75
TOTAL3,489,505.0421,408,737.57
GRAND TOTAL AWARDED 24,898,242.61

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