The Zimbabwe dollar has continued to lose value against the US dollar on the Reserve Bank of Zimbabwe (RBZ) forex auction.
On Tuesday, 12 April 2022, the weighted average fell to US$1: ZWL$150.2157 from US$1: ZWL$145.8721 which was reported by the RBZ the previous week.
In total, US$32.0 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week.
1 052 bids were received on the Small to Medium enterprises forex auction, with 989 accepted and 63 disqualified. The total number of bids allotted was 989.
On the main forex auction, a total of 426 bids were received, 389 were accepted and 37 were disqualified. The total number of bids allotted was 389.
The RBZ said 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 : |
SMEFX82/2022 1052 |
MAIN FX88/2022 426 |
| Number of Bids Disqualified : | 63 | 37 |
| Total Number of Bids Accepted : | 989 | 389 |
| Total Number of Bids Allotted : | 989 | 389 |
| Total Value of Bids Accepted : | USD3,702,817.86 | USD28,340,493.17 |
| Amount Allotted : | USD3,702,817.86 | USD28,340,493.11 |
| Highest Rate Received : | 160.0000 | 160.000 |
| Lowest Bid Rate Allotted : | 135.0000 | 142.0000 |
| Weighted Average Rate : | 150.2157 |
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 999,034.76 | 12,472,455.22 |
| Machinery and Equipment | 1,335,612.26 | 6,541,458.23 |
| Consumables (Incl. Spares, Tyres, Electricals, etc) | 464,584.40 | 2,333,023.45 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 390,693.30 | 2,072,381.50 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 315,999.45 | 2,673,241.77 |
| Electricity | 11,807.00 | 50,000.00 |
| Pharmaceuticals and Chemicals | 124,064.76 | 1,212,463.34 |
| Paper and Packaging | 61,021.93 | 985,469.66 |
| TOTAL | 3,702,817.86 | 28,340,493.17 |
| GRAND TOTAL AWARDED | 32,043,311.03 |
