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RBZ Forex Auction Results – 15 February 2022

2 years agoTue, 15 Feb 2022 16:53:12 GMT
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RBZ Forex Auction Results – 15 February 2022

The Zimbabwe dollar has lost further ground 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, 15 February 2022 shows that the value of the local currency fell by $1.6426 against the US dollar.

This week the weighted average was US$1: ZWL$120.5174 down from the 08 February 2022 rate that stood at US$1: ZWL$118.8748.

In total, US$37,204,902.66 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is slightly higher than the US$37,160,200.79 allotted last week.

934 bids were received on the Small to Medium enterprises forex auction, with 844 accepted and 99 disqualified. The total number of bids allotted was 844.

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On the main forex auction, a total of 546 bids were received, 468 were accepted and 78 were disqualified. The total number of bids allotted was 420.

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 : 943 546
Number of Bids Disqualified 99 78
Total Number of Bids Accepted : 844 468
Total Number of Bids Allotted : 844 420
Total Value of Bids Accepted : USD7,616,125.91 USD32,773,390.85
Amount Allotted : USD7,616,125.91 USD29,588,776.75
Highest Rate Received : 135.0000 135.0000
Lowest Bid Rate Allotted : 115.0000 119.0000
Weighted Average Rate : 120.5174

 

PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,724,096.74 11,949,968.63
Machinery and Equipment 2,571,095.35 6,788,161.77
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,140,156.52 3,199,010.56
Services (Loans, Education, Dividends, Disinvestments, etc) 1,051,993.40 2,639,725.86
Retail and Distribution (Incl. Food, Beverages, etc) 617,456.92 2,970,176.75
Electricity 31,770.53 113,813.32
Pharmaceuticals and Chemicals 286,990.42 1,298,853.00
Paper and Packaging 192,566.03 629,066.86
TOTAL 7,616,125.91 29,588,776.75
GRAND TOTAL AWARDED 37,204,902.66

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