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RBZ Forex Auction Results – 15 March 2022

1 year agoTue, 15 Mar 2022 16:45:44 GMT
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RBZ Forex Auction Results – 15 March 2022

The local currency has lost further ground against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 15 March 2022.

This week the weighted average was US$1: ZWL$134.0820 down from the 1 March 2022 rate that stood at US$1: ZWL$130.1567.

In total, US$36.6 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week.

1 177 bids were received on the Small to Medium enterprises forex auction, with 1 105 accepted and 72 disqualified. The total number of bids allotted was 1 105.

On the main forex auction, a total of 478 bids were received, 442 were accepted and 36 were disqualified. The total number of bids allotted was 433.

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The RBZ said 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 : 1177 478
Number of Bids Disqualified : 72 36
Total Number of Bids Accepted : 1105 442
Total Number of Bids Allotted : 1105 433
Total Value of Bids Accepted : 5,744,362.37 31,089,467.92
Amount Allotted : 5,744,362.37 30,862,194.32
Highest Rate Received : 145 148
Lowest Bid Rate Allotted : 127 130
Weighted Average Rate : 134.0820

 

PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,388,421.01 13,859,233.34
Machinery and Equipment 1,937,748.88 7,057,444.33
Consumables (Incl. Spares, Tyres, Electricals, etc) 896,069.62 1,949,022.49
Services (Loans, Education, Dividends, Disinvestments, etc) 649,307.99 2,075,741.46
Retail and Distribution (Incl. Food, Beverages, etc) 557,616.92 2,971,554.31
Electricity 99475.36  
Pharmaceuticals and Chemicals 135,024.71 1,946,033.16
Paper and Packaging 80,697.88 1,003,165.23
TOTAL 5,744,362.37 30,862,194.32

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