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, 01 February 2022 indicates that the local currency fell by $1.2277 against the US dollar.
This week the weighted average was US$1: ZWL116.6500 down from the 25 January 2022 rate that stood at US$1: ZWL$ $115.4223.
In total, US$37,548,580.33 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is a little bit lower than the US$38 775 772.07 million allotted last week.
901 bids were received on the Small to Medium enterprises forex auction, with 783 accepted and 118 disqualified. The total number of bids allotted was 783.
On the main forex auction, a total of 546 bids were received, 460 were accepted and 86 were disqualified. The total number of bids allotted was 437.
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.
| SMEFX73/2022 | MAIN FX79/2022 |
| Number of Bids Received : | 901 | 546 |
| Number of Bids Disqualified : | 118 | 86 |
| Total Number of Bids Accepted : | 783 | 460 |
| Total Number of Bids Allotted : | 783 | 437 |
| Total Value of Bids Accepted : | USD6,773,484.47 | USD32,275,383.86 |
| Amount Allotted : | USD6,773,484.47 | USD30,775,095.86 |
| Highest Rate Received : | 130.0000 | 132.5000 |
| Lowest Bid Rate Received : | 107.0000 | 108.0000 |
| Lowest Bid Rate Allotted : | 107.0000 | 112.8200 |
| Weighted Average Rate : | 116.6500 |
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 1,584,646.80 | 13,258,231.07 |
| Machinery and Equipment | 2,147,777.51 | 7,024,692.98 |
| Consumables (Incl. Spares, Tyres, Electricals, etc) | 961,908.64 | 2,750,638.64 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 1,053,903.16 | 1,922,356.55 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 554,044.11 | 3,491,211.10 |
| Electricity | 10,000.00 | |
| Pharmaceuticals and Chemicals | 314,122.62 | 1,490,692.27 |
| Paper and Packaging | 147,081.63 | 837,273.25 |
| TOTAL | 6,773,484.47 | 30,775,095.86 |
| GRAND TOTAL AWARDED | 37,548,580.33 |