RBZ Foreign Currency Auction Results: 28 September 2021

2 years agoTue, 28 Sep 2021 15:54:01 GMT
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RBZ Foreign Currency Auction Results: 28 September 2021

The Zimbabwe dollar (ZWL$) continues to lose value against the US dollar as indicated by the results of the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 28 September 2021.

Last week the weighted average was US$1: ZWL$86.9267 and fell to US$1: ZWL$87.6653 this week.

This week, US$9.4 million was allocated to the Small to Medium Enterprises forex auction while US$32 million was allocated to the main forex auction.

In total, US$41.1 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

1236 bids were received on the Small to Medium enterprises forex auction, with 1180 accepted and 56 disqualified.

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On the main forex auction, a total of 450 bids were received, 428 were accepted while 22 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 :

SME FX59/2021


MAIN FX65/2021


Number of Bids Disqualified : 56 22
Total Number of Bids Accepted : 1180 428
Total Number of Bids Allotted : 1180 428
Total Value of Bids Accepted : USD10,582,486.96 USD34,192,013.42
Amount Allotted : USD 9,377,226.27 USD31,709,267.96
Highest Rate Received : 97.2000 95.0000
Lowest Bid Rate Received : 85.0000 85.0000
Lowest Bid Rate Allotted : 85.0000 85.0000
Weighted Average Rate : 87.6653  
Raw Materials 2,953,286.28 12,919,239.28
Machinery and Equipment 2,738,627.65 7,983,704.69
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,465,622.73 2,648,090.96
Services (Loans, Education, Dividends, Disinvestments, etc) 584,600.46 1,471,247.99
Retail and Distribution (Incl. Food, Beverages, etc) 961,374.21 3,535,845.96
Fuel, Electricity and Gas
Pharmaceuticals and Chemicals 370,929.89 1,904,542.68
Paper and Packaging 302,785.05 1,246,596.40
TOTAL 9,377,226.27 31,709,267.96
GRAND TOTAL AWARDED 41,086,494.23  



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