The Zimbabwe dollar official exchange rate was US$1: ZWL$928.5887 as per the results of the foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) today (Tuesday 28 March 2023).
The weighted average moved up from US$1: ZWL$915.1822, the Zimbabwe dollar official rate for the week of 21-27 March 2023.
RBZ said a total of US$ 20,095,134.78 was allotted today up from US$18,719,881.96, 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$1,950,094.82 down from US$2,530,187.62.
The total amount allotted on the Main Forex Auction was US$16,769,787.14 down from US$17,289,752.50.
♦ Weighted Average Rate 928.5887 from 915.1822.
How the money was allocated:
Raw Materials………………………………………….…(SME) US$794,513.90 (MA) US$9,225,734.27
Machinery and Equipment…………………………….…(SME)US$757,698.99 … (MA)US$3,035,605.25
Consumables (Incl. Spares, Tyres, Electricals, etc)………(SME)US$278,084.08 … (MA)US$1,229,890.94
Services (Loans, Education, Dividends, Disinvestments…) (SME)US$127,196.00 … (MA)US$927,561.66
Retail and Distribution (Incl. Food, Beverages, etc)…….(SME)US$269,075.99 … (MA)US$2,067,940.33
Electricity ……………………………………………….
Pharmaceuticals and Chemicals ……………………….… (SME)US$100,473.59 … (MA)US$407,964.89
Paper and Packaging ………………………………..…… (SME)US$52,427.76 ….(MA)US$820,967.13
TOTAL Amount allotted for the SMEFX130/2023 ………..US$2,379,470.31
TOTAL Amount allotted for the MAIN FX136/2023 ………US$ 17,715,664.47
GRAND TOTAL AWARDED ………………………… US$ 20,095,134.78
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.