RBZ Forex Auction: Zimbabwe Dollar Official Rate 22 February 2023
The Zimbabwe dollar lost further ground against the US dollar at the foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) on 22 February 2023.
The RBZ forex auction weighted average rate moved to US$1: ZWL$881.7513 on 22 February 2023, from the US$1: ZWL$856.8403that was set on 14 February 2023.
The central bank said a total of US$19,632,591.61 was allotted today down from US20,254,578.32, 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 was US$1,811,479.70 down from US$2,269,815.79.
The total amount allotted on the Main Forex Auction was US$18,443,098.62 up from US$16,897,319.04.
♦ Weighted Average Rate 856.8403 from 831.8147.
How the money was allocated:
Raw Materials……………………………………(SME)US$461,549.44 (MA) US$9,494,073.30
Machinery and Equipment……………………..…(SME) US$573,835.73 … (MA)US$2,286,372.19
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$271,121.06 … (MA)US$1,263,725.85
Services (Loans, Education, Dividends, Disinvestments…) (SME)US$232,887.33 … (MA) US$1,689,705.06
Retail and Distribution (Incl. Food, Beverages, etc)…(SME)US$138,759.60 … (MA)US$1,885,312.83
Electricity ……………………………………………….
Pharmaceuticals and Chemicals …………….… (SME)US$66,306.19 … (MA)US$638,772.41
Paper and Packaging …………………………… (SME)US$69,732.08 ….(MA)US$560,438.54
TOTAL Amount allotted for the SMEFX125/2023 ………..US$1,814,191.43
TOTAL Amount allotted for the MAIN FX131/2023 ………US$17,818,400.18
GRAND TOTAL AWARDED ………………………… US$19,632,591.61
Notes
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.
