The value of the Zimbabwe dollar has continued to fall against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction.
Data released by the central bank following the forex auction conducted on Tuesday, 25 January 2022 indicates that the local currency fell by $2.5995 against the US dollar.
This week the weighted average was US$1: ZWL$115.4223 down from the 18 January rate that stood at US$1: ZWL$112.8228.
In total, US$38 775 772.07 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is significantly higher than the US$30 866 275.90 million allotted last week.
906 bids were received on the Small to Medium enterprises forex auction, with 697 accepted and 209 disqualified. The total number of bids allotted was 697.
On the main forex auction, a total of 537 bids were received, 422 were accepted and 115 were disqualified. The total number of bids allotted was 422.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
| Number of Bids Received | 906 | 537 |
| Number of Bids Disqualified | 209 | 115 |
| Total Number of Bids Accepted : | 697 | 422 |
| Total Number of Bids Allotted : | 697 | 422 |
| Total Value of Bids Accepted : | USD6,153,778.39 | USD32,621,993.68 |
| Amount Allotted : | JSD6,153,778.39 | USD32,621,993.68 |
| Highest Rate Received : | 130.0000 | 130.0000 |
| Lowest Bid Rate Received : | 106.0000 | 107.0000 |
| Lowest Bid Rate Allotted : | 106.0000 | 107.0000 |
| Weighted Average Rate : | 115.4223 |
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 1,219,985.38 | 15,075,011.73 |
| Machinery and Equipment | 1,927,856.57 | 8,367,681.17 |
| Consumables (Incl. Spares, Tyres, Electricals, etc) | 967,713.63 | 2,882,019.59 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 1,195,329.76 | 1,749,583.84 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 439,023.08 | 2,174,100.12 |
| Electricity | – | – |
| Pharmaceuticals and Chemicals | 250,416.84 | 1,700,372.52 |
| Paper and Packaging | 153,453.13 | 673,224.71 |
| TOTAL | 6,153,778.39 | 32,621,993.68 |
| GRAND TOTAL AWARDED | 38,775,772.07 |
