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RBZ Forex Auction Results – 08 February 2022

2 years agoTue, 08 Feb 2022 17:22:31 GMT
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RBZ Forex Auction Results – 08 February 2022

The value of the Zimbabwe dollar further depreciated against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction.

Data released by the central bank following the forex auction conducted on Tuesday, 08 February 2022 shows that the value of the local currency fell by $2.2248 against the US dollar.

This week the weighted average was US$1: ZWL118.8748 down from the 01 February 2022 rate that stood at US$1: ZWL116.6500,

In total, US$37,160,200.79 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is a little bit lower than the 37,548,580.33 million allotted last week.

898 bids were received on the Small to Medium enterprises forex auction, with 798 accepted and 100 disqualified. The total number of bids allotted was 723.

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On the main forex auction, a total of 536 bids were received, 451 were accepted and 85 were disqualified. The total number of bids allotted was 410.

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

Some bids were also allotted on a pro-rata basis.

Number of Bids Received : 898 536
Number of Bids Disqualified : 100 85
Total Number of Bids Accepted : 798 451
Total Number of Bids Allotted : 723 410
Total Value of Bids Accepted : USD 7,633,061.96 USD32,792,172.96
Amount Allotted : USD 6,961,341.90 USD30,198,858.89
Highest Rate Received : 135.0000 130.0000
Lowest Bid Rate Allotted : 115.0000 116.0000
Weighted Average Rate : 118.8748

 

PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,802,664.35 11,821,018.14
Machinery and Equipment 2,264,729.79 7,901,825.18
Consumables (Incl. Spares, Tyres, Electricals, etc) 876,554.00 3,562,165.30
Services (Loans, Education, Dividends, Disinvestments, etc) 916,491.54 1,661,438.04
Retail and Distribution (Incl. Food, Beverages, etc) 568,363.12 3,280,283.01
Electricity 20,620.00 0.00
Pharmaceuticalsand Chemicals 353,407.93 1,397,826.60
Paper and Packaging 158,511.17 574,302.62
TOTAL 6,961,341.90 30,198,858.89
GRAND TOTAL AWARDED 37,160,200.79  

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