RBZ Forex Auction: Zimbabwe Dollar Official Rate 19 July 2022

1 year ago
Tue, 19 Jul 2022 15:36:06 GMT
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RBZ Forex Auction: Zimbabwe Dollar Official Rate 19 July 2022

The Zimbabwe dollar continued to shed value against the United States dollar as observed at today’s foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ).

The foreign exchange weighted average rate has fallen to US$1: ZWL$403.4048 from US$1: ZWL$391.5339 announced by the RBZ last week.

At this week’s RBZ foreign currency auction conducted on Tuesday, 19 July 2022, a total of US$22.92 million was allotted.

The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.

594 bids were received on the Small to Medium Enterprises Forex Auction, with 569 accepted and 25 disqualified. The total number of bids allotted was 550.

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On the Main Forex Auction, a total of 214 bids were received, 206 were accepted and were disqualified. The total number of bids allotted was 200.

The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.

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

                                                                                                SMEFX96/2022: MAIN FX102/2022
Number of Bids Received : 594 214
Number of Bids Disqualified : 25 8
Total Number of Bids Accepted : 569 206
Total Number of Bids Allotted : 550 200
Total Value of Bids Accepted : USD3,867,264.37 USD19,685,492.47
Amount Allotted : USD3,762,731.31 USD19,161,542.54
Highest Rate Received : 450.0000 442.0000
Lowest Bid Rate Allotted : 382.0000 385.0000
Weighted Average Rate : 403.4048  
Raw Materials 1,140,296.19 10,097,040.50
Machinery and Equipment 1,388,815.64 3,897,765.28
Consumables (Incl. Spares, Tyres, Electricals, etc) 419,958.82 1,089,414.52
Services (Loans, Education, Dividends, Disinvestments, etc) 381,314.78 1,678,373.14
Retail and Distribution (Incl. Food, Beverages, etc) 269,662.01 1,172,171.43
Electricity 3,068.45  
Pharmaceuticals and Chemicals 89,833.90 477,217.61
Paper and Packaging 69,781.52 749,560.06
TOTAL 3,762,731.31 19,161,542.54
GRAND TOTAL AWARDED 22,924,273.85  

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