The value of the Zimbabwe dollar has fallen against the United States dollar 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$478.6358 from US$1: ZWL$458.3653 announced by the RBZ last week.
At this week’s RBZ foreign currency auction conducted on Tuesday, 10 August 2022, a total of US$21.4 million was allotted.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
565 bids were received on the Small to Medium Enterprises Forex Auction, with 545 accepted and 20 disqualified. The total number of bids allotted was 443.
On the Main Forex Auction, a total of 176 bids were received, 170 were accepted and 6 were disqualified. The total number of bids allotted was 151.
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.
The willing buyer willing seller bid rate as of 05 August 2022 was ZWL$450.8839.
| Number of Bids Received : | 565 | 176 |
| Number of Bids Disqualified : | 20 | 6 |
| Total Number of Bids Accepted : | 545 | 170 |
| Total Number of Bids Allotted : | 443 | 151 |
| Total Value of Bids Accepted : | USD4,909,382.60 | USD19,531,353.97 |
| Amount Allotted : | USD3,972,911.09 | USD17,526,940.55 |
| Highest Rate Received : | 550.0000 | 520.0000 |
| Lowest Bid Rate Allotted : | 450.0000 | 450.0000 |
| Weighted Average Rate : | 478.6358 |
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 1,244,390.65 | 8,956,129.02 |
| Machinery and Equipment | 1,385,362.32 | 3,942,477.98 |
| Consumables (Incl. Spares. Tyres, Electricals, etc) | 448,193.80 | 1,650,341.10 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 431,362.60 | 1,245,847.50 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 229,676.69 | 905,524.21 |
| Electricity | 25,739.56 | 0 |
| Pharmaceuticals and Chemicals | 134,494.69 | 508,677.39 |
| Paper and Packaging | 73,690.78 | 317,943.35 |
| TOTAL | 3,972,911.09 | 17,526,940.55 |
| GRAND TOTAL AWARDED | 21,499,851.64 |
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