Zimbabwe Dollar Official Rate As Of 11 April 2023
The Zimbabwe dollar this week remained below the 1 000 mark against US$1.00 on the Reserve Bank of Zimbabwe (RBZ) foreign currency auction despite reaching at least 1 500 on the parallel market in recent days.
This Tuesday, 11 April 2023, the weighted average moved to US$1: ZWL$959.3111, up from US$1: US$1: ZWL$944.7133 which was set on 04 April 2023.
The RBZ said the highest rate received was 1 100.0000, while the lowest bid rate allotted was 950 000.
The central bank also said a total of US$20,568,055.34 was allotted today down from US$20,969,947.45, which was allotted last week.
The bulk of the allotment went to raw materials followed by machinery and equipment.
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The total amount allotted for the Small to Medium Enterprises Forex Auction was US$2,241,706.95 down from US$2,379,980.25.
The total amount allotted on the Main Forex Auction was US$18,326,348.39 down from US$18,589,967.20.
♦ Weighted Average Rate moved to 959.3111 from 944.7133.
How the money was allocated:
Raw Materials……………………………………(SME) US$780,117.95 (MA) US$10,145,544.10
Machinery and Equipment……………………..…(SME)US$680,281.10 … (MA)US$3,111,160.89
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$303,176.35 … (MA) US$1,082,756.22
Services (Loans, Education, Dividends, Disinvestments…) (SME) US$130,751.42 … (MA) US$1,157,856.91
Retail and Distribution (Incl. Food, Beverages, etc)…(SME) US$231,773.24 … (MA) US$1,603,231.85
Lubricants ………………………………………………. (SME) US$40,000.00
Pharmaceuticals and Chemicals …………….… (SME) US$92,954.56 … (MA) US$480,479.95
Paper and Packaging …………………………… (SME) US$22,652.33 …. (MA) US$705,318.47
TOTAL Amount allotted for the SMEFX124/2023 ………..US$2,241,706.95
TOTAL Amount allotted for the MAIN FX130/2023 ………US$18,326,348.39
GRAND TOTAL AWARDED ………………………… US$20,568,055.34
Notes
1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
2. Some Bids were allotted on a pro-rata basis.
