RBZ Forex Auction: Zimbabwe Dollar Official Rate 30 August 2022
The Zimbabwe dollar has lost further ground against the US dollar at the official foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) today, 30 August 2022.
The foreign exchange weighted average rate is now US$1: ZWL$546.8254 from US$1: ZWL$521.4351 announced by the RBZ last week.
At this week’s RBZ foreign currency auction, a total of US$15.32 million was allotted to various sectors.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
402 bids were received on the Small to Medium Enterprises Forex Auction, with 398 accepted and 4 disqualified. The total amount allotted was USD2 643 432.75.
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On the Main Forex Auction, a total of 144 bids were received, 141 were accepted and 3 were disqualified. The total amount allotted was USD12 681 789.09.
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.
The willing buyer willing seller bid rate as of 29 August 2022 was ZWL$517. 9032 up from ZWL$487.4680 on 19 August.
SME FX103/2022 MAIN FX109/2022
Number of Bids Received : 402 144 Number of Bids Disqualified : 4 3 Total Number of Bids Accepted : 398 141 Total Number of Bids Allotted : 278 127 Total Value of Bids Accepted : USD3,688,792.36 USD13,636,355.46 Amount Allotted : USD2,643,432.75 USD12,681,789.09 Highest Rate Received : 600,0000 605.0000 Lowest Bid Rate Allotted : 520.0000 520.0000 Weighted Average Rate : 546.8254
AMOUNT ALLOTTED SME AUCTION
AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 812,525.35 4,799,173.49 Machinery and Equipment 814,009.62 3,800,847.08 Consumables (Incl. Spares, Tyres, Electricals, etc) 345,580.06 1,196,777.11 Services (Loans, Education, Dividends, Disinvestments, etc) 352940.17 1,508,324.19 Retail and Distribution (Incl. Food, Beverages, etc) 138,840.56 773,243.03 Electricity 0 0 Pharmaceuticals and Chemicals 113,816.62 503,678.80 Paper and Packaging 65,720.37 99,745.39 TOTAL 2,643,432.75 12,681,789.09 GRAND TOTAL AWARDED 15,325,221.84