The Zimbabwe dollar has continued to fall in value against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency auction.
At the latest auction conducted today, 17 January 2023, the weighted average rate moved to US$1: ZWL$732.0036 from the US$1: ZWL$705.4164 that was set last week on 10 January.
The central bank said a total of US$14,471,109.58 was allotted today, up from US$10,806,183.25, which was allotted last week.
The bulk of the allotment went to raw materials followed by machinery and equipment.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX119/2023) was US$1,748,201.30.
The total amount allotted on the Main Forex Auction (MAIN FX125/2023) was US$12,722,908.28.
♦ Weighted Average Rate 732.0036
How the money was allocated:
Raw Materials………………………………………………………………..US$8,503,416.78
Machinery and Equipment………………………………………………US$1,434,549.97
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$1,269,405.28
Services (Loans, Education, Dividends, Disinvestments, etc)…US$1,293,749.25
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$1,174,923.2
Pharmaceuticals and Chemicals …………………………………………US$306,281.76
Paper and Packaging …………………………………………………………US$488,783.34
TOTAL Amount allotted for the SMEFX111/2022 …………. US$1,748,201.30
TOTAL Amount allotted for the MAIN FM117/2022 …… US$12,722,908.28
GRAND TOTAL AWARDED ………………………………… US$14,471,109.58
Notes
1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
2. Some Bids were allotted on a pro-rata basis.