fbpx

RBZ Forex Auction: Zimbabwe Dollar Official Rate 26 July 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$416.2890 from US$1: ZWL$403.4048 announced by the RBZ last week.

At this week’s RBZ foreign currency auction conducted on Tuesday, 26 July 2022, a total of US$24.1 million was allotted.

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

704 bids were received on the Small to Medium Enterprises Forex Auction, with 640 accepted and 64 disqualified. The total number of bids allotted was 620.

On the Main Forex Auction, a total of 236 bids were received, 223 were accepted and 13 were disqualified. The total number of bids allotted was 221.

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. 

                                                                                                SMEFX97/2022:MAIN FX103/2022
Number of Bids Received :704236
Number of Bids Disqualified :6413
Total Number of Bids Accepted :640223
Total Number of Bids Allotted :620221
Total Value of Bids Accepted :USD4,430,341.14JSD19,865,492.03
Amount Allotted :USD4,321,097.28USD19,787,360.03
Highest Rate Received: 500.0000490.0000
Lowest Bid Rate Allotted :398.0000399.0000
Weighted Average Rate :416.2890 
PURPOSEAMOUNT ALLOTTED SME AUCTIONAMOUNT ALLOTTED MAIN AUCTION
Raw Materials1,245,137.2410,699,121.87
Machinery and Equipment1,623,759.774,211,595.65
Consumables (Incl. Spares, Tyres, Electricals, etc)471,701.871,370,024.51
Services (Loans, Education, Dividends, Disinvestments, etc)430,799.051,594,852.38
Retail and Distribution (Incl. Food, Beverages, etc)303,690.141,024,040.24
Electricity0.00 
Pharmaceuticals and Chemicals125,599.67660,457.97
Paper and Packaging120,409.54227,267.41
TOTAL4,321,097.2819,787,360.03
GRAND TOTAL AWARDED 24,108,457.31

Notes

1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.

2. Some Bids were allotted on a pro-rata basis.

3. Willing buyer Willing Seller Bid Rate as at 22 July 2022 was ZWL397.3119

RESERVE BANK OF ZIMBABWE
26 July 2022

Pindula News

Download the Pindula App for a better user experience.

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/D3p2N7OV4gTKVkg5QwUdvY


Telegram Group:

Back to top

One Comment on “RBZ Forex Auction: Zimbabwe Dollar Official Rate 26 July 2022

Write a Comment

Your email address will not be published.


Share Full Post