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RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 20 September 2022

1 year agoTue, 20 Sep 2022 15:19:38 GMT
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RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 20 September 2022

The Zimbabwe dollar has continued its downward spiral against the US dollar. According to the results of the official foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) today, 20 September 2022, the weighted average rate has fallen to US$1: ZWL$613.3681.

Last week, the foreign exchange weighted average rate was US$1: ZWL$604.2580.

In an update seen by Pindula News, the central bank reported that a total of US$13.66 millionwas allotted to various sectors at this week’s RBZ foreign currency auction.

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

245 bids were received on the Small to Medium Enterprises Forex Auction, with 230 accepted and 15 disqualified. The total amount allotted was USD2,099,695.45 down from the USD2,196,092.29 allotted last week.

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On the Main Forex Auction, a total of 103 bids were received, 100 were accepted and 3 were disqualified. The total amount allotted was USD11,562,566.29 down from USD13,429,628.61 allotted last week.

SME FX105/2022

Number of Bids Received

MAIN FX111/2022

245

Number of Bids Disqualified : 15
Total Number of Bids Accepted : 230
Total Number of Bids Allotted : 229
Total Value of Bids Accepted : USD2,109,508.47
Amount Allotted : USD2,099,695.45
Highest Rate Received : 655.0000
Lowest Bid Rate Allotted : 570.0000
Weighted Average Rate : 613.3681
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 544,543.20 5,481,712.32
Machinery and Equipment 664,958.47 2,897,448.71
Consumables (Incl. Spares, Tyres, Electricals, etc) 286,454.89 781,648.34
Services (Loans, Education, Dividends, Disinvestments, etc) 288,805.86 1,095,578.45
Retail and Distribution (Incl. Food, Beverages, etc) 163,244.46 766,563.72
Electricity 51,255.00
Pharmaceuticals and Chemicals 92,325.75 353,813.31
Paper and Packaging 59,362.82 134,546.44
TOTAL 2,099,695.45 11,562,566.29
GRAND TOTAL AWARDED 13,662,261.74

Notes

1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZW$ and those with sufficient FCA balances were also disqualified.

2. Some Bids were allotted on a pro-rata basis.

3. Willing buyer Willing Seller Bid Rate as of 9 September 2022 was ZW$568.1885.

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