The Zimbabwe dollar marginally gained against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction, data from the RBZ forex auction conducted on Tuesday, 30 November 2021 shows.
This week, the weighted average was US$1: ZWL$105.6896 down from last week’s rate that stood at US$1: ZWLZWL$105.6684.
In total, US$39 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is down from the US$41.95 million allotted last week.
923 bids were received on the Small to Medium enterprises forex auction, with 612 accepted and 311 disqualified. The total number of bids allotted was 612.
On the main forex auction, a total of 604 bids were received, 368 were accepted and 236 were disqualified. The total number of bids allotted was 368.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
| SMEFX68/2021 | MAIN FX74/2021 |
| Number of Bids Received : | 923 | 604 |
| Number of Bids Disqualified : | 311 | 236 |
| Total Number of Bids Accepted : | 612 | 368 |
| Total Number of Bids Allotted : | 612 | 368 |
| Total Value of Bids Accepted : | USD6,466,518.27 | USD32,681,877.66 |
| Amount Allotted : | USD6,466,518.27 | USD32,681.877.66 |
| Highest Rate Received : | 125.0000 | 120.0000 |
| Lowest Bid Rate Received | : 100.0000 | 100.0000 |
| Lowest Bid Rate Allotted | : 100.0000 | 100.0000 |
| Weighted Average Rate | : 105.6896 |
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 2,027,946.14 | 12,886,823.83 |
| Machinery and Equipment | 2,134,470.16 | 9,563,903.99 |
| Consumables (Incl. Spares, Tyres, Electricals, etc) | 813,235.15 | 3,098,825.50 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 549,730.63 | 1,972,011.01 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 467,852.29 | 2,506,916.23 |
| Fuel, Electricity and Gas | – | 160,008.59 |
| Pharmaceuticals and Chemicals | 344,411.39 | 1,830,950.66 |
| Paper and Packaging | 128,872.51 | 662,437.85 |
| TOTAL | 6,466,518.27 | 32,681,877.66 |
| GRAND TOTAL AWARDED | 39,148,395.93 |