The Zimbabwe dollar has marginally lost value against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 09 November 2021.
This week, the weighted average was US$1: ZWL$99.9301, a slight depreciation from last week’s rate that stood at US$1: ZWL$98.9821.
This week, US$11.08 million was allocated to the Small to Medium Enterprises forex auction while US$35.79 million was allocated to the main forex auction.
In total, US$46.87 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is up from the US$46.2 million allotted last week.
1 283 bids were received on the Small to Medium enterprises forex auction, with 1 238 accepted and 45 disqualified. The total number of bids allotted was 1 238.
On the main forex auction, a total of 732 bids were received, 631 were accepted while 101 were disqualified. The total number of bids allotted was 631.
The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
| Number of Bids Received | 1283 | 732 |
| Number of Bids Disqualified | 45 | 101 |
| Total Number of Bids Accepted | 1238 | 631 |
| Total Number of Bids Allotted | 1238 | 631 |
| Total Value of Bids Accepted : | USD11,081,207.54 | USD41,737,520.60 |
| Amount Allotted : | USD11,081,207.54 | USD35,792,885.54 |
| Highest Rate Received : | 115.0000 | 115.0000 |
| Lowest Bid Rate Received : | 96.0000 | 97.1400 |
| Lowest Bid Rate Allotted : | 96.0000 | 97.1400 |
| Weighted Average Rate : | 99.9301 |
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 2,680,358.38 | 13,440,963.00 |
| Machinery and Equipment | 3,906,669.62 | 11,276,442.00 |
| Consumables (Incl. Spares, Tyres, Electricals, etc) | 1,621,803.73 | 2,755,134.32 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 1,030,215.16 | 2,391,255.59 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 1,033,587.14 | 2,717,413.32 |
| Fuel, Electricity and Gas | 31605.49 | 61,963.54 |
| Pharmaceuticals and Chemicals | 554,207.68 | 2,070,566.65 |
| Paper and Packaging | 222,760.34 | 1,079,147.12 |
| TOTAL | 11,081,207.54 | 35,792,885.54 |
| GRAND TOTAL AWARDED | 46,874,093.08 |
