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RBZ Forex Auction 12/10/2021: Zimbabwe Dollar Sheds Value Against USD

2 years agoTue, 12 Oct 2021 15:42:56 GMT
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RBZ Forex Auction 12/10/2021: Zimbabwe Dollar Sheds Value Against USD

The Zimbabwe dollar has lost further ground against the US dollar as indicated by the results of the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 12 October 2021.

Last week the weighted average was US$1: ZWL$88.5532 and fell to US$1: ZWL$90.0792  this week.

This week, US$8 million was allocated to the Small to Medium Enterprises forex auction while US$28.4 million was allocated to the main forex auction.

In total, US$36.3 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

1256 bids were received on the Small to Medium enterprises forex auction, with 1 196 accepted and 60 disqualified.

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On the main forex auction, a total of 519 bids were received, 488 were accepted while 31 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.

Number of Bids Received :

SMEFX61/2021

1256

MAIN FX67/2021

519

Number of Bids Disqualified : 60 31
Total Number of Bids Accepted : 1 196 488
Total Number of Bids Allotted : 759 357
Total Value of Bids Accepted : USD9,365,574.40 USD32,826,554.76
Amount Allotted : USD7,978,938.75 USD28,395,244.38
Highest Rate Received : 100.0000 95.1600
Lowest Bid Rate Received : 85.0000 85.0000
Lowest Bid Rate Allotted : 88.5000 88.5000
Weighted Average Rate : 90.0792  
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 2,428,873.54 11,010,262.22
Machinery and Equipment 2,482,427.55 7,822,826.32
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,215,781.53 3,010,781.10
Services (Loans, Education, Dividends, Disinvestments, etc) 608,013.90 980,656.00
Retail and Distribution (Incl. Food, Beverages, etc) 666,473.29 3,286,166.59
Fuel, Electricity and Gas 19,910.71 0.00
Pharmaceuticals and Chemicals 368,996.62 1,139,496.66
Paper and Packaging 188,461.61 1,145,055.49
TOTAL 7,978,938.75 28,395,244.38
GRAND TOTAL AWARDED   36,374,183.13

 

 

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