fbpx

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 20 September 2022

The Zimbabwe dollar has continued its downward spiral against the US dollar. According to the results of the official foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) today, 20 September 2022, the weighted average rate has fallen to US$1: ZWL$613.3681.

Last week, the foreign exchange weighted average rate was US$1: ZWL$604.2580.

In an update seen by Pindula News, the central bank reported that a total of US$13.66 million was allotted to various sectors at this week’s RBZ foreign currency auction.

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

245 bids were received on the Small to Medium Enterprises Forex Auction, with 230 accepted and 15 disqualified. The total amount allotted was USD2,099,695.45 down from the USD2,196,092.29 allotted last week.

On the Main Forex Auction, a total of 103 bids were received, 100 were accepted and 3 were disqualified. The total amount allotted was USD11,562,566.29 down from USD13,429,628.61 allotted last week.

SME FX105/2022

Number of Bids Received

MAIN FX111/2022

245

Number of Bids Disqualified :15
Total Number of Bids Accepted :230
Total Number of Bids Allotted :229
Total Value of Bids Accepted :USD2,109,508.47
Amount Allotted :USD2,099,695.45
Highest Rate Received :655.0000
Lowest Bid Rate Allotted :570.0000
Weighted Average Rate :613.3681
PURPOSEAMOUNT ALLOTTED SME AUCTIONAMOUNT ALLOTTED MAIN AUCTION
Raw Materials544,543.205,481,712.32
Machinery and Equipment664,958.472,897,448.71
Consumables (Incl. Spares, Tyres, Electricals, etc)286,454.89781,648.34
Services (Loans, Education, Dividends, Disinvestments, etc)288,805.861,095,578.45
Retail and Distribution (Incl. Food, Beverages, etc)163,244.46766,563.72
Electricity 51,255.00
Pharmaceuticals and Chemicals92,325.75353,813.31
Paper and Packaging59,362.82134,546.44
TOTAL2,099,695.4511,562,566.29
GRAND TOTAL AWARDED 13,662,261.74

Notes

1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZW$ 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 of 9 September 2022 was ZW$568.1885.

Image

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 As Of 20 September 2022

Write a Comment

Your email address will not be published.


Share Full Post