The value of the Zimbabwe dollar further depreciated 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, 08 February 2022 shows that the value of the local currency fell by $2.2248 against the US dollar.
This week the weighted average was US$1: ZWL118.8748 down from the 01 February 2022 rate that stood at US$1: ZWL116.6500,
In total, US$37,160,200.79 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 37,548,580.33 million allotted last week.
898 bids were received on the Small to Medium enterprises forex auction, with 798 accepted and 100 disqualified. The total number of bids allotted was 723.
On the main forex auction, a total of 536 bids were received, 451 were accepted and 85 were disqualified. The total number of bids allotted was 410.
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 : | 898 | 536 |
| Number of Bids Disqualified : | 100 | 85 |
| Total Number of Bids Accepted : | 798 | 451 |
| Total Number of Bids Allotted : | 723 | 410 |
| Total Value of Bids Accepted : | USD 7,633,061.96 | USD32,792,172.96 |
| Amount Allotted : | USD 6,961,341.90 | USD30,198,858.89 |
| Highest Rate Received : | 135.0000 | 130.0000 |
| Lowest Bid Rate Allotted : | 115.0000 | 116.0000 |
| Weighted Average Rate : | 118.8748 |
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 1,802,664.35 | 11,821,018.14 |
| Machinery and Equipment | 2,264,729.79 | 7,901,825.18 |
| Consumables (Incl. Spares, Tyres, Electricals, etc) | 876,554.00 | 3,562,165.30 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 916,491.54 | 1,661,438.04 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 568,363.12 | 3,280,283.01 |
| Electricity | 20,620.00 | 0.00 |
| Pharmaceuticalsand Chemicals | 353,407.93 | 1,397,826.60 |
| Paper and Packaging | 158,511.17 | 574,302.62 |
| TOTAL | 6,961,341.90 | 30,198,858.89 |
| GRAND TOTAL AWARDED | 37,160,200.79 |
