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RBZ Forex Auction Results - 06 July 2021

2 years agoTue, 06 Jul 2021 18:17:33 GMT
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RBZ Forex Auction Results - 06 July 2021

The value of the Zimbabwe dollar fell slightly against the US dollar on the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday 06 June 2021.

Last week the weighted average was US$1: ZWL$85.4234, falling to US$1: ZWL$85.5097 this week.

This week US$7.74 million was allocated to the Small to Medium Enterprises forex auction while US$34.55 million was allocated to the main forex auction.

In total, US$42 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

539 bids were received on the Small to Medium enterprises forex auction, with 503 accepted and 36 disqualified.

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On the main forex auction, a total of 376 bids were received, 337 were accepted while 39 were disqualified.

The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.

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

Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said. Below is the RBZ summary of the forex auction:

Number of Bids Received : SMEFX47/2021

539

MAIN FX53/2021

376

Number of Bids Disqualified : 36 39
Total Number of Bids Accepted : 503 337
Total Number of Bids Allotted : 503 337
Total Value of Bids Accepted : USD7,749,452.73 USD34,558,007.09
Amount Allotted : USD7,749,452.73 USD34,558,007.09
Highest Rate Received : 90.0000 90.0000
Lowest Bid Rate Received : 82.0000 82.0000
Lowest Bid Rate Allotted : 82.0000 82.0000
Weighted Average Rate : 85.5097

 

PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,729,385.55 14,077,599.22
Machinery and Equipment 1,972,893.91 7,016,303.27
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,975,402.78 3,065,060.23
Services (Loans, Education, Dividends, Disinvestments, etc) 511,375.65 1,320,644.89
Retail and Distribution (Incl. Food, Beverages, etc) 655,316.87 3,210,048.87
Fuel, Electricity and Gas 158,059.75 1,333,354.93
Pharmaceuticals and Chemicals 394,855.68 3,702,409.64
Paper and Packaging 352,162.54 832,586.04
TOTAL 7,749,452.73 34,558,007.09
GRAND TOTAL AWARDED 42,307,459.82

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