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The Zimbabwe dollar lost value against the United States dollar (USD) at the Reserve Bank of Zimbabwe’s wholesale foreign exchange auction held on September 12, 2023. The USD was exchanged at a rate of ZW$4,712.1675, which is higher than the rate of ZWL$4,647.9681 recorded on September 6, 2023. This follows a previous rate of ZWL$4,604.62 observed on August 29, 2023.
The foreign currency obtained from the auction was primarily allocated to Machinery and Equipment, receiving a total of $303,210.76. Services such as loans, education, dividends, and disinvestments followed closely with an allocation of $303,084.29. Raw materials received a slightly lower allocation of $266,877.75. In recent months, there has been a noticeable increase in the allocation of funds towards Services.
This allocation pattern represents a departure from the usual trend where raw materials typically received a larger share of the funds. The shift in allocation suggests changing priorities or demands within the economy post the 23-24 August 2023 elections.
These developments highlight the ongoing fluctuations in the exchange rate and the distribution of foreign currency across various sectors of the Zimbabwean economy. The stability of the exchange rate is yet to be determined, but some economists predicted that the Zimbabwean dollar may further depreciate after the period of August 23-24, 2023. They say this could occur if the newly-elected government does not take necessary measures to address the fundamental issues required for stabilising the macroeconomy and the local currency.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Pindula News

Zimbabwe Dollar Weakened Against USD At RBZ's Auction On 12 September 2023

The <a class="MarkdownLink_linkifiedLink__KxC9G">Reserve Bank</a> of Zimbabwe (RBZ) has released the <a class="MarkdownLink_linkifiedLink__KxC9G">Wholesale Foreign Exchange Auction Results</a> for 16 June 2023. In a statement seen by Pindula News, the central bank said the auction received 14 bids from banks, all of which were accepted. Out of the total bids accepted, 9 were allotted, with a total value of USD10,635,904.00. The amount allotted was USD6,990,750.00, with the <a class="MarkdownLink_linkifiedLink__KxC9G">highest bid rate</a> received being 7,200.0000 and the <a class="MarkdownLink_linkifiedLink__KxC9G">lowest bid rate</a> allotted being 6,600.0000. The weighted average rate was 6,713.3462. Reads the statement:
<blockquote>
<h3>Wholesale Foreign Exchange Auction Results 16 June 2023</h3>
Number of Bids Received From Banks: 14 
Number of Bids Disqualified: 0 
Total Number of Bids Accepted: 14 
Total Number of Bids Allotted: 9 
Total Value of Bids Accepted: USD10,635,904.00 
Amount Allotted: USD6,990,750.00 
Highest Bid Rate Received: 7,200.0000 
Lowest Bid Rate Allotted: 6,600.0000 
Weighted Average Rate: 6,713.3462
</blockquote>
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

RBZ Releases Wholesale Foreign Exchange Auction Results For 16 June

The Zimbabwe dollar has further weakened against the United States (US) dollar on the foreign currency auction held by the <a href="https://wiki.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ).</a>
On 23 May 2023, the weighted average was US$1: ZWL$1,888.0119 up from US$1: ZWL$1,404.8039 reported on 16 May 2023.
The central bank allotted a total of US$14,166,812.38 down from US$14,444,323.31, with the majority of the allotment going to raw materials, followed by machinery and equipment.
The amount allotted for the Small to Medium Enterprises Forex Auction was US$957,712.91 down from US$1,576,700.13, while the Main Forex Auction was allotted US$13,209,099.47 up from US$13,171,159.91.
<blockquote>
♦ Weighted Average Rate moved to 1,888.0119 up from 1,404.8039.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials ………………………………………………Small US$288,375.10; Main US$6,799,034.39
Machinery and Equipment Small …………………… US$318,256.50; Main US$2,184,686.84
Consumables (Incl. Spares, Tyres, Electricals, etc) ….Small US$109,719.60; Main US$778,350.98
Services (Loans, Education, Dividends, Disinvestments, etc) … Small US$98,780.03; Main US$552,310.76
Retail and Distribution (Incl. Food, Beverages, etc) …. Small US$95,177.70; Main US$1,704,604.16
Pharmaceuticals and Chemicals Small ……………….. US$19,949.30; Main US$401,843.00
Paper and Packaging Small ……………………………….. US$27,454.68; Main US$788,269.34
TOTAL SMEFK138/2023: …………………………… US$957,712.91; MAIN FX144/202313,209,099.47
GRAND TOTAL AWARDED …………….. US$14,166,812.38
</blockquote>
Notes 
<blockquote>
1. All bids within the pre-announced amount were allotted in full. 
2. Bids were allotted on a pure Dutch Auction basis, in line with the refinement of the foreign exchange auction system. 
3. Bids with overdue CD1s, outstanding Bills of Entry (BOEs)and insufficient ZW$ were disqualified.
</blockquote>
<h2><a href="https://www.pindula.co.zw/">More Pindula News</a></h2>

Zimbabwe Dollar Further Weakens Against US dollar On RBZ Foreign Currency Auction

The value of the Zimbabwe dollar kept decreasing compared to the United States dollar on the foreign currency auction held by the <a href="https://wiki.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ). </a>
On April 25, 2023, the weighted average was US$1: ZWL$1,021.2072 up from US$1: ZWL$1,000.0227, <a href="https://zero.pindula.co.zw/zimbabwe-dollar-official-rate-crosses-1-000-mark/">reported on April 19, 2023. </a>
The central bank allotted a total of US$20,742,566.66 up from US$18,905,097.94, with the majority of the allotment going to raw materials, followed by machinery and equipment.
The amount allotted for the Small to Medium Enterprises Forex Auction was US$1,707,854.70 down from US$1,731,764.97, while the Main Forex Auction was allotted US$19,034,711.96 up from US$17,173,332.97.
<blockquote>
♦ Weighted Average Rate moved to 1,021.2072 Uup from 1 000.0227.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
<ul>
<li>Raw Materials ………………………. (SME) US$552,438.20; (MAIN) US$9,575,766.95</li>
<li>Machinery and Equipment …………. (SME) US$581,017.60; (MAIN) US$2,739,872.27</li>
<li>Consumables (Incl. Spares, Tyres, Electricals, etc) – (SME) US$200,791.74; (MAIN) US$1,885,282.66</li>
<li>Services (Loans, Education, Dividends, Disinvestments, etc) – (SME) US$170,760.73; (MAIN) US$1,356,613.01</li>
<li>Retail and Distribution (Incl. Food, Beverages, etc) – (SME) US$132,432.47; (MAIN) US$ 2,172,326.50</li>
<li>Lubricants …………………………. (MAIN) US$31,874.40</li>
<li>Pharmaceuticals and Chemicals … (SME) US$32,943.09; (MAIN) US$617,512.47</li>
<li>Paper and Packaging ……………… (SME) US$37,470.87; (MAIN) US$655,463.70</li>
<li>TOTAL amount alloted to SMEFX134/2023  … US$1,707,854.70</li>
<li>TOTAL amount alloted to MAIN FX140/2023) … US$19,034,711.96</li>
<li>GRAND TOTAL AWARDED ……. US$20,742,566.66</li>
</ul>
Notes
<ol>
<li>Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.</li>
<li>Some Bids were allotted on a pro-rata basis.</li>
</ol>
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Forex Auction: Value Of Zimbabwe Dollar Keeps Decreasing

The Zimbabwe dollar lost further ground against the US dollar at the foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> 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 <a href="https://zero.pindula.co.zw/rbz-forex-auction-results-zimbabwe-dollar-official-rate-as-of-14-february-2023/">on 14 February 2023.</a>
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.
<blockquote>
♦ Weighted Average Rate 856.8403 from 831.8147.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
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
</blockquote>
<h2>Notes</h2>
<blockquote>
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.
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

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 <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> on 07 February 2023.
The RBZ forex auction weighted average rate moved to US$1: ZWL$856.8403 on 14 February 2023, from the US$1: ZWL$831.8147that was set <a href="https://zero.pindula.co.zw/rbz-forex-auction-07-02-2023-zimbabwe-dollar-sheds-more-value-against-usd/">on 07 February 2023.</a>
The central bank said a total of US$20,254,578.32 was allotted today up from US19,167,134.43, 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.
<blockquote>
♦ Weighted Average Rate 856.8403 from 831.8147.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) 627,827.09  (MA) US10,000,202.79
Machinery and Equipment……………………..…(SME) US$497,787.04  … (MA)US$2,649,877.10
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$209,979.44 … (MA)US$1,611,306.39
Services (Loans, Education, Dividends, Disinvestments…) (SME)US$209,979.44  … (MA) US$1,611,306.39
Retail and Distribution (Incl. Food, Beverages, etc)…(SME)US$170,889.75… (MA)US$ 2,124,303.39
Electricity ………………………………………………. (SME) US$9,331.86
Pharmaceuticals and Chemicals …………….… (SME)US$95,150.16  … (MA)US$476,325.00
Paper and Packaging …………………………… (SME)US$55,465.81 ….(MA)US$485,083.39 
TOTAL Amount allotted for the SMEFX124/2023 ………..US$1,811,479.70 
TOTAL Amount allotted for the MAIN FX130/2023 ………US$18,443,098.62
GRAND TOTAL AWARDED ………………………… US$20,254,578.32
</blockquote>
<h2>Notes</h2>
<blockquote>
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.
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Forex Auction Results: Zimbabwe Dollar Official Rate As Of 14 February 2023

<a href="https://www.pindula.co.zw/Econet_Wireless_Zimbabwe">Econet Wireless Zimbabwe,</a> a telecommunications company founded by <a href="https://www.pindula.co.zw/Strive_Masiyiwa">Strive Masiyiwa</a>, says the shortage of foreign currency on the market has negatively affected its operations.
In its third quarter (Q3) to November 2022 trading update, Econet said the situation is being worsened by persistent power cuts that have prompted the company to use more foreign currency to invest in alternative energy sources such as solar.
The group said it continues to negotiate payment terms with its network equipment vendors that take into account local business challenges. Read the part of the report:
<blockquote>
Foreign currency availability for servicing our network foreign suppliers continues to be a major challenge and has hampered our ability to implement much-needed network maintenance and expansion.
Overall, the local telecommunications industry has been struggling to meet the capacity and coverage demands of consumers as investment in long overdue capacity enhancements and routine maintenance remains severely constrained by the lack of access to foreign currency for our foreign network suppliers.
</blockquote>
Despite these challenges, Econet’s revenue for the 9 months period grew by 9 per cent in inflation-adjusted terms compared to the same period in the previous fiscal year.
The growth was largely driven by voice and data volumes, which were however weighed down by tariffs which were below inflation.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Masiyiwa's Econet Wireless Bemoans Forex Shortages

The Zimbabwe dollar lost further ground against the US dollar at the foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> on 07 February 2023.
The RBZ forex auction weighted average rate moved to US$1: ZWL$831.8147 on 07 February 2023, from the US$1: ZWL$801.6023 that was set <a href="https://news.pindula.co.zw/2023/02/01/rbz-forex-auction-31-01-2023-zimbabwe-dollar-continues-to-lose-value-against-usd/">on 31 January 2023.</a>
The central bank said a total of US$19,167,134.43 was allotted today up from US18,295,674.52, 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 (SMEFX123/2023) was  US$2,269,815.79 up from US$1,837,006.31.
The total amount allotted on the Main Forex Auction (MAIN FX129/2023) was US$16,897,319.04 up from US$16,458,668.21.
<blockquote>
♦ Weighted Average Rate 831.8147 from 801.6023
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) US$706,607.35 … (MA) US$9,293,740.16
Machinery and Equipment……………………..…(SME) US$698,196.71 … (MA)US$1,910,567.54
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$293,632.88 … (MA)US$967,339.85
Services (Loans, Education, Dividends, Disinvestments…) (SME)US$196,237.43 … (MA) US$1,316,528.01
Retail and Distribution (Incl. Food, Beverages, etc)…(SME)US$227,561.66 … (MA)US$2,336,520.86
Pharmaceuticals and Chemicals …………….… (SME)US$82,140.37 … (MA)US$457,478.57
Paper and Packaging …………………………… (SME)US$65,439.39 ….(MA)US$615,144.05 
TOTAL Amount allotted for the SMEFX122/2023 …(SME)US$1,837,006.31
TOTAL Amount allotted for the MAIN FX128/2023 …(MA)US$16,458,668.21
GRAND TOTAL AWARDED ………………………… US$19,167,134.43
</blockquote>
<h2>Notes</h2>
<blockquote>
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.
</blockquote>
<h2><a href="https://news.pindula.co.zw/">More Pindula News</a></h2>

RBZ Forex Auction 07/02/2023: Zimbabwe Dollar Sheds More Value Against USD

The Foreign Exchange Auction System’s backlog of foreign exchange allotments has been resolved, according to the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a>.
The central bank’s statement seen by Pindula News ascribed the trend to higher foreign currency inflows into the nation of southern Africa. Reads the statement issued by RBZ Governor, Dr <a href="https://www.pindula.co.zw/John_Mangudya">John Panonetsa Mangudya</a>:
<blockquote>
<h2>CLEARANCE OF BACKLOG OF FOREIGN EXCHANGE AUCTION ALLOTMENTS</h2>
The Reserve Bank of Zimbabwe (the Bank) is pleased to advise the public that it has cleared the backlog of foreign exchange allotments under the Foreign Exchange Auction System. This development is a result of improved foreign exchange inflows in the Country.
Going forward, the Bank will abide by the Foreign Exchange Auction Rules and ensure that foreign currency is available to successful bidders within 14 days from the date of auction. This will go a long way in maintaining a stable foreign exchange rate and sustaining financial stability in the economy.
</blockquote>
In December 2022, deputy governor Dr Innocent Matshe stated that the apex bank was <a href="https://zero.pindula.co.zw/rbz-forex-allotments-between-june-2020-and-december-2022/">striving to shorten the period</a> between the time that allotments are made and run and the time that the allottee receives money in foreign currency accounts.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Speaks On Clearance Of Foreign Exchange Allotments Backlog

Since the launch of the foreign exchange auction system in June 2020 until December of last year, the Reserve Bank of Zimbabwe (RBZ) has allocated US$3.7 billion through the system.
The majority of it went toward the acquisition of raw materials and machinery.
Why was the auction system introduced:
To provide much-needed foreign currency to local businesses for production at a time when the nation was facing problems with its foreign reserves.
The auction system was also designed as a method for determining the price of local currency.
The central bank estimates that the allocations during the previous year totalled roughly US$1.1 billion.
Following the adoption of the local currency in 2019 and a decade of a multi-currency system dominated by the US dollar, the auction system put an end to the fixed exchange rate that had been in existence.
When the government created the willing-buyer-willing-seller (WBWS) platform in the middle of last year, the auction remained the primary source of foreign currency for local businesses.
The government legalized the use of the US dollar for domestic transactions and domestic sales have since overtaken the two platforms as the primary source of foreign currency.
The backlog of foreign currency allotments from the RBZ’s initial 93 foreign currency auctions, according to the central bank, had been cleared.
In December 2022, deputy governor Dr Innocent Matshe stated that the apex bank was striving to shorten the period between the time that allotments are made and run and the time that the allottee receives money in foreign currency accounts.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Forex Allotments Between June 2020 and December 2022

The Reserve Bank of Zimbabwe (RBZ) has warned government suppliers against participating in parallel market forex trading.
In a statement seen by Pindula News, the central bank said those doing so will be destabilizing prices. Reads the statement:
<blockquote>
RBZ would like to urge suppliers of goods and services recently paid by Government to refrain from participating on the parallel fx market in order to sustain price stability.
</blockquote>
The <a href="https://zero.pindula.co.zw/breaking-rbz-si-142-bans-use-of-all-foreign-currencies-with-effect-from-24-june-2019/">Zimbabwe dollar was reintroduced in June 2019</a> and has since then been losing value against other currencies, mainly the United States Dollar.
The apex bank is adamant that the stability of the Zimbabwe dollar is largely affected by the activities of saboteurs who participate in parallel market foreign currency trading.
There was some stability in the last quarter of 2022 but analysts warned the stability of the Zimbabwe dollar was largely a <a href="https://zero.pindula.co.zw/economists-say-zimdollar-exchange-rate-stability-is-false/">result of its shortage in the market.</a> They said once the government starts paying contractors and suppliers, the local currency would respond.
They said the only solution to the local unit’s volatility is to liberalise the market for the local currency. 
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Warns Govt Suppliers Against Participating In Parallel Market Forex Trading

The International Monetary Fund (IMF) has urged the Reserve Bank of Zimbabwe (RBZ) to liberalise the exchange rate, NewsDay reported citing a statement by the Breton Woods institution.
The IMF delegation led by Dhaneshwar Ghura made the recommendation following a 15-day visit to Zimbabwe. Read the statement:
<blockquote>
A near-term policy imperative is to sustainably anchor macro-economic stability. In this context, fund staff recommends accelerating the liberalisation of the forex market, including through the removal of restrictions on the exchange rate at which banks, authorised dealers and businesses transact…
This can be achieved by mobilising additional revenues, based on tax policy reforms, and by scaling back non-priority outlays, while strengthening public finance management. The financial oversight of the SOEs [State owned enterprises] by Treasury should be further strengthened in order to minimise fiscal risks.
International re-engagement remains critical for debt resolution and access to external financial support.
</blockquote>
RBZ established the forex auction in June 2020 to cater for the foreign currency needs of businesses.
Local economists have always been advising the government through the RBZ to stop quasi-fiscal activities, liberalise the exchange rate, wind down gold coins and restore macroeconomic stability. 
The central bank has been controlling and regulating the foreign currency exchange rate accusing players on the black market of fueling the collapse of the Zimbabwe dollar.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

IMF Urges RBZ To Liberalise The Exchange Rate

The Zimbabwe dollar lost further ground against the US dollar at the foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 13 December 2022.
The weighted average rate has moved to US$1: ZWL$ 671.4466 661.5605.
<blockquote>
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-06-december-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$ 661.5605.
</blockquote>
In its latest update seen by Pindula News, the central bank said a total of US$15,482,376.22 was allotted this week, up from US$11,551,663.39whichwas allotted to various sectors at last week’s auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX118/2022) was  US$ 1,451,144.38 up from the US$1,284,863.86 allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FX124/2022) was US$14,031,231.84 up from US$10,266,799.53 allotted last week.
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials ……………………………………………..……. (SME): US$440,768.32; (MA): US$7,415,722.05
Machinery and Equipment ……………………………………… (SME): US$474,206.09; (MA): US$1,939,871.65
Consumables (Incl. Spares, Tyres, Electricals, etc) ………… (SME) US$151,600.13 (MA): US$1,153,586.05
Services (Loans, Education, Dividends, Disinvestments, etc).… (SME): US$162,305.52 (MA): US$1,845,029.69
Retail and Distribution (Incl. Food, Beverages, etc) ……….. (SME) US$103,189.74 (MA): US$622,726.66
Electricity…………………………………………………………………………………………………
Pharmaceuticals and Chemicals ………………………………..…..  (SME): US$88,011.65 (MA) US$408,105.38
Paper and Packaging ……………………………….……………… (SME): US$31,062.93 (MA): US$646,190.36
TOTAL …………………………………………………………… (SME) US$1,451,144.38 (MA): US$14,031,231.84
GRAND TOTAL AWARD………………………………………. US$15,482,376.22
</blockquote>
<h2>Notes</h2>
<blockquote>
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. 
3. Willing buyer Willing seller Bid Rate as at 9 December 2022 was ZW$637.1543
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 13 December 2022

The Zimbabwe dollar lost further ground against the US dollar at the foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 06 November 2022.
The weighted average rate has moved to US$1: ZWL$ 661.5605 
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-29-november-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$ 654.8651.
In its latest update, the central bank said a total of US$11,551,663.39 was allotted this week, down from US$15,315,302.13whichwas allotted to various sectors at last week’s auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX117/2022) was  US$ 1,284,863.86 down from the US$1,401,209.57 allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FX123/2022) was US$10,266,799.53 down from US$13,914,092.56 allotted last week.
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials ……………………………………………..……. (SME): US$495,619.80; (MA): US$5,632,710.55
Machinery and Equipment ……………………………………… (SME): US$388,883.96; (MA): US$1,178,715.22
Consumables (Incl. Spares, Tyres, Electricals, etc) ………… (SME) US$123,572.10 (MA): US$897,668.55
Services (Loans, Education, Dividends, Disinvestments, etc).… (SME): US$101,699.68 (MA): US$1,629,195.33
Retail and Distribution (Incl. Food, Beverages, etc) ……….. (SME) US$113,162.79 (MA): US$422,273.40
Electricity…………………………………………………………………………………………………
Pharmaceuticals and Chemicals ………………………………..…..  (SME): US$36,526.82 (MA) US$400,182.54
Paper and Packaging ……………………………….……………… (SME): US$56,095.78 (MA): US$229,509.45
TOTAL …………………………………………………………… (SME) US$1,284,863.86 (MA): US$10,266,799.53
GRAND TOTAL AWARD………………………………………. US$11,551,663.39
</blockquote>
<h2>Notes </h2>
<blockquote>
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. 
3. Willing buyer Willing seller Bid Rate as of 2 December 2022 was ZW$629. 7067
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 06 December 2022

The Zimbabwe dollar lost further ground against the US dollar at the foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 29 November 2022.
The weighted average rate has moved to US$1: ZWL$ 654.8651
<a href="https://news.pindula.co.zw/2022/11/22/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-22-november-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$ 646.2415.
In its latest update, the central bank said a total of US$15,315,302.13 was allotted this week, up from US$11,162,090.09 that was allotted to various sectors at last week’s auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX111/2022) was  US$ 1,401,209.57 up from the US$1,198,534.51 allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FX117/2022) was US$13,914,092.56 down from US$9,963,555.58 allotted last week.
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials …………………………………………. (SME): US$503,463.63 (MA): US$8,010,859.24
Machinery and Equipment ……………………………… (SME): US$414,098.19 (MA): US$1,832,584.25
Consumables (Incl. Spares, Tyres, Electricals, etc) …………… (SME): US$121,555.54 (MA): US$628,158.09
Services (Loans, Education, Dividends, Disinvestments, etc).… (SME): US$120,709.41 (MA): US$1,576,236.16
Retail and Distribution (Incl. Food, Beverages, etc) ……….. (SME) US$121,047.25 (MA): US$961,561.26
Electricity…………………………………………………………………………………………………………………………………………
Pharmaceuticals and Chemicals ………………………………………..  (SME): US$64,239.77 (MA) US$675,184.11
Paper and Packaging …………………………………………… (SME): US$56,095.78 (MA): US$229,509.45
TOTAL ……………………………………………………… (SME): US$1,401,209.57 (MA): US$13,914,092.56
GRAND TOTAL AWARD…………………………………………. US$15,315,302.13
</blockquote>
<h2>Notes</h2>
<blockquote>
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. 
3. Willing buyer Willing seller Bid Rate as of 25 November 2022 was ZW$620.9138.
</blockquote>
<h2><a href="https://news.pindula.co.zw/">More Pindula News</a></h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 29 November 2022

The Zimbabwe dollar lost further ground against the US dollar at the foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 22 November 2022.
The weighted average rate has moved to US$1: ZWL$ 646.2415.
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-15-november-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$ 639.1003.
In its latest update, the central bank said a total of US$11,162,090.09, was allotted this week, down from US$13,053,307.52thatwas allotted to various sectors at last week’s auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX111/2022) was  US$1,198,534.51 down from the US$1,333,267.85 allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FX117/2022) was US$9,963,555.58 down from US$11,720,039.67allotted last week.
<blockquote>
<ul>
<li>
<h2>Weighted Average Rate 646.2415</h2>
</li>
</ul>
</blockquote>
<h2>How the money was allocated:</h2>
Raw Materials ……………………………………………………………………………………. (SME): US$402,137.60 (MA): US$3,604,555.93 
Machinery and Equipment ………………………………………………………………… (SME): US$372,503.96  (MA): US$2,380,110.56 
Consumables (Incl. Spares, Tyres, Electricals, etc) ……………………………… (SME): US$158,705.29  (MA): US$887,266.17 
Services (Loans, Education, Dividends, Disinvestments, etc) ……………… (SME): US$72,326.33 (MA): US$1,414,437.87 
Retail and Distribution (Incl. Food, Beverages, etc) …………………………….. (SME) US$130,237.34 (MA): US$456,596.30 
Electricity Pharmaceuticals and Chemicals …………………………………………  (SME): US$26,037.83 (MA) US$498,493.23
 Paper and Packaging …………………………………………………………………………… (SME): US$36,586.16 (MA): US$722,095.52 
TOTAL ………………………………………………………………………………………………… (SME): US$1,198,53431 (MA): US$9,963,555.58 
GRAND TOTAL AWARDED …………………………………………………………. US$11,162,090.09
<h2>Notes 1. </h2>
<blockquote>
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. 
3. Willing buyer Willing seller Bid Rate as at 18 November 2022 was ZW$613.3542 
</blockquote>
<h2>More Pindula News</h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 22 November 2022

A new World Bank report has ranked Zimbabwe as the country with the highest food price inflation in the world.
This is despite <a href="https://zero.pindula.co.zw/zimbabwes-annual-inflation-slows-down/">official figures showing that price levels have been trending downward</a> in recent months.
The continuation of restrictions on fertilizer exports from the Black Sea region, sanctions on exports from Belarus, and China’s fertilizer export ban could further destabilise tight fertilizer markets, <a href="https://thenewshawks.com/zim-still-has-highest-food-inflation/">The News Hawks</a> reported citing the World Bank report.
The Breton Woods institution warns that if energy and fertilizer prices do not moderate in 2023 and 2024 as expected, food prices could increase substantially.
The report shows that Zimbabwe’s monthly food inflation increased by up to 30% this year.
Other countries which also reported high inflation, although lower than Zimbabwe, include Venezuela, conflict-hit Somalia and Lebanon.
If agricultural commodity prices increase, it is likely that the number of people facing food insecurity will continue to increase.
It is projected that the number of people subject to severe food insecurity will exceed 200 million in 2022. 
Populations most exposed to food crises typically live in countries facing extreme weather events and conflict, especially in Sub-Saharan Africa.
The World Bank says price spikes in food and agricultural commodities will affect vulnerable populations by limiting access to affordable staple foods, which can lead to widespread food insecurity.
Effects of climate change including flooding, drought, abnormal dryness, and cyclones, in East and southern Africa, place additional pressure on food security through agricultural production and price channels. 
Zimbabwe has over the greater part of the year been battling <a href="https://zero.pindula.co.zw/zimbabwes-annual-inflation-slows-down/">rising inflation</a> and a <a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-15-november-2022/">weakening domestic currency.</a>
Official figures show that the <a href="https://zero.pindula.co.zw/zimbabwes-annual-inflation-slows-down/">year-on-year inflation rate for October 2022 decreased</a> to 268.8% from 280.4% in September 2022, while the month-on-month inflation rate in October 2022 was 3.2%, down from the September 2022 rate of 3.5%.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

New World Bank Report Says Zimbabwe Has The Highest Food Price Inflation Globally

The Zimbabwe dollar has continued its downward spiral against the US dollar. According to the results of the official foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 25 October 2022, the weighted average rate has fallen to US$1: ZWL$632.1371.
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-18-october-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$629.5204.
In an update seen by Pindula News, the central bank reported a total of US$10,600,227.09 done from US$11 734 231.57 thatwas allotted to various sectors at this week’s RBZ foreign currency auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX111/2022) was USD1,062,029.45 down from US$1,347,913.87 allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FX117/2022) was US$USD10,637,610.97 up from US$9,705,860.92allotted last week.
<blockquote>
♦ Weighted Average Rate 629.5204
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials………………………………………………………………..US$4,189,685.91
Machinery and Equipment………………………………………………US$2,276,719.65
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$779,709.93
Services (Loans, Education, Dividends, Disinvestments, etc)…US$1,938,179.55
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$902,155.04
Electricity Pharmaceuticals and Chemicals …………………………US$409,225.37
Paper and Packaging …………………………………………………………US$104,551.64
TOTAL Amount allotted for the SMEFX111/2022 …………. US$1,097,940.76 
TOTAL Amount allotted for the MAIN FM117/2022 …… US$9,502,286.33
GRAND TOTAL AWARDED ……………………………. US$10,600,227.09
</blockquote>
<h2>Notes</h2>
<blockquote>
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. 
3. Willing buyer Willing seller Bid Rate as at 21 October 2022 was ZW$604.7983
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 25 October 2022

The Zimbabwe dollar has continued its downward spiral against the US dollar. According to the results of the official foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 18 October 2022, the weighted average rate has fallen to US$1: ZWL$629.5204.
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-11-october-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$628.1975.
In an update seen by Pindula News, the central bank reported a total of US$11 734 231.57 up from US$11 053 774.79 thatwas allotted to various sectors at this week’s RBZ foreign currency auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX110/2022) was USD1,062,029.45 down from US$1,347,913.87 allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FM116/2022) was USDUSDUSD10,637,610.97 up from US$9,705,860.92allotted last week.
<blockquote>
 ♦ Weighted Average Rate 629.5204
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials ………………………………………….. US$343,381.40 4,903,167.44 
Machinery and Equipment ……………………… US$389,519.48 2,785,657.73 
Consumables (Incl. Spares, Tyres, Electricals, etc) ………. US$97,726.58 601,674.70 
Services (Loans, Education, Dividends, Disinvestments, etc) … US$70,301.60 1,558,821.32 
Retail and Distribution (Incl. Food, Beverages, etc) ……… US$96,487.05 470,150.67 
Electricity ……………………………………………………………….. US$0.00 0.00 
Pharmaceuticals and Chemicals ………………………………….. US$28,174.94 218,624.11 
Paper and Packaging ……………………………………………… US$36,438.40 99,515.00 
TOTAL SMEFX110/2022 ……………………………………………. US$1,062,029.45 
TOTAL MAIN FM116/2022 ………………………………………… US$10.637,610.97 
GRAND TOTAL AWARDED …………………………………….. US$11,734,231.57
</blockquote>
<h2>Notes</h2>
<blockquote>
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. 
3). Willing buyer Willing seller Bid Rate as at 14 October 2022 was ZWS603.0626 
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 18 October 2022

The Zimbabwe dollar has continued its downward spiral against the US dollar. According to the results of the official foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 11 October 2022, the weighted average rate has fallen to US$1: ZWL$628.1975.
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-04-october-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$626.1893.
In an update seen by Pindula News, the central bank reported a total of US$11,053,774.79 up from USD10,496,520.56 thatwas allotted to various sectors at this week’s RBZ foreign currency auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
126 bids were received on the Small to Medium Enterprises Forex Auction, with 123 accepted and 3 disqualified. The total amount allotted was USD1,347,913.87 up from USD1,158,110.96allotted last week.
On the Main Forex Auction, a total of 60 bids were received, 60 were accepted and 0 were disqualified. The total amount allotted was USDUSD9,705,860.92 up from USD9,338,409.60 allotted last week.
<blockquote>
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.98">SMEFX109/2022</td>
<td title="Character Accurarcy=99.99">MAIN FX115/2022</td>
</tr>
</tbody>
</table>
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.03">Number of Bids Received :</td>
<td title="Character Accurarcy=99.98">126</td>
<td title="Character Accurarcy=99.99">60</td>
</tr>
<tr>
<td title="Character Accurarcy=99.54">Number of Bids Disqualified :</td>
<td title="Character Accurarcy=99.66">3</td>
<td title="Character Accurarcy=98.4">–</td>
</tr>
<tr>
<td title="Character Accurarcy=99.71">Total Number of Bids Accepted :</td>
<td title="Character Accurarcy=99.96">123</td>
<td title="Character Accurarcy=99.99">60</td>
</tr>
<tr>
<td title="Character Accurarcy=99.79">Total Number of Bids Allotted :</td>
<td title="Character Accurarcy=99.97">123</td>
<td title="Character Accurarcy=99.99">60</td>
</tr>
<tr>
<td title="Character Accurarcy=99.67">Total Value of Bids Accepted :</td>
<td title="Character Accurarcy=98.81">USD1,347,913.87</td>
<td title="Character Accurarcy=0">USD9,705,860.92</td>
</tr>
<tr>
<td title="Character Accurarcy=99.22">Amount Allotted :</td>
<td title="Character Accurarcy=99.24">USD1,347,913.87</td>
<td title="Character Accurarcy=0">USD9,705,860.92</td>
</tr>
<tr>
<td title="Character Accurarcy=99.38">Highest Rate Received :</td>
<td title="Character Accurarcy=99.09">670.0000</td>
<td title="Character Accurarcy=99.77">657.5000</td>
</tr>
<tr>
<td title="Character Accurarcy=99.3">Lowest Bid Rate Allotted :</td>
<td title="Character Accurarcy=99.54">590.0000</td>
<td title="Character Accurarcy=99.81">598.0000</td>
</tr>
<tr>
<td title="Character Accurarcy=99.71">Weighted Average Rate :</td>
<td title="Character Accurarcy=99.92">628.1975</td>
</tr>
</tbody>
</table>
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.87">PURPOSE</td>
<td title="Character Accurarcy=99.84">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.91">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Raw Materials</td>
<td title="Character Accurarcy=99.95">455,578.89</td>
<td title="Character Accurarcy=99.91">4,299,583.55</td>
</tr>
<tr>
<td title="Character Accurarcy=99.98">Machinery and Equipment</td>
<td title="Character Accurarcy=99.83">392,102.18</td>
<td title="Character Accurarcy=99.94">2,779,647.88</td>
</tr>
<tr>
<td title="Character Accurarcy=99.8">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.92">132,503.21</td>
<td title="Character Accurarcy=99.93">587,974.62</td>
</tr>
<tr>
<td title="Character Accurarcy=99.65">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.92">147,950.42</td>
<td title="Character Accurarcy=99.86">1,424,201.95</td>
</tr>
<tr>
<td title="Character Accurarcy=99.71">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.94">103,011.20</td>
<td title="Character Accurarcy=99.88">344,895.04</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Electricity</td>
<td title="Character Accurarcy=96.97">–</td>
<td title="Character Accurarcy=97.48">–</td>
</tr>
<tr>
<td title="Character Accurarcy=99.77">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.87">45,139.81</td>
<td title="Character Accurarcy=99.93">220,895.05</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Paper and Packaging</td>
<td title="Character Accurarcy=99.92">71,628.16</td>
<td title="Character Accurarcy=99.91">48,662.83</td>
</tr>
<tr>
<td title="Character Accurarcy=99.9">TOTAL</td>
<td title="Character Accurarcy=99.94">1,347,913.87</td>
<td title="Character Accurarcy=99.8">9,705,860.92</td>
</tr>
</tbody>
</table>
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.9">TOTAL</td>
<td title="Character Accurarcy=99.94"> 11,053,774.79</td>
</tr>
</tbody>
</table>
<h2>Notes </h2>
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. 
3. Willing buyer Willing seller Bid Rate as at 06 October 2022 was ZW$604.2195 
</blockquote>
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 11 October 2022

The Zimbabwe dollar has continued its downward spiral against the US dollar. According to the results of the official foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 04 October 2022, the weighted average rate has fallen to US$1: ZWL$626.1893 621.5321 
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-27-september-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$621.5321.
In an update seen by Pindula News, the central bank reported that a total of US$10,496,520.56 down from US$11,011,895.49was allotted to various sectors at this week’s RBZ foreign currency auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
128 bids were received on the Small to Medium Enterprises Forex Auction, with 125 accepted and 3 disqualified. The total amount allotted was USD1,158,110.96 down from USD1,468,089.44 allotted last week.
On the Main Forex Auction, a total of 66 bids were received, 64 were accepted and 2 were disqualified. The total amount allotted was USD9,338,409.60 down from USD9,338,409.60 allotted last week.
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.93">SMEFX108/2022 AUCTION</td>
<td title="Character Accurarcy=99.33">MAIN FX114/2022</td>
</tr>
</tbody>
</table>
<div>
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.67">Number of Bids Received :</td>
<td title="Character Accurarcy=99.96">128</td>
<td title="Character Accurarcy=99.98">66</td>
</tr>
<tr>
<td title="Character Accurarcy=99.58">Number of Bids Disqualified :</td>
<td title="Character Accurarcy=99.59">3</td>
<td title="Character Accurarcy=99.65">2</td>
</tr>
<tr>
<td title="Character Accurarcy=99.77">Total Number of Bids Accepted :</td>
<td title="Character Accurarcy=99.95">125</td>
<td title="Character Accurarcy=99.94">64</td>
</tr>
<tr>
<td title="Character Accurarcy=99.75">Total Number of Bids Allotted :</td>
<td title="Character Accurarcy=99.93">124</td>
<td title="Character Accurarcy=99.9">64</td>
</tr>
<tr>
<td title="Character Accurarcy=99.67">Total Value of Bids Accepted :</td>
<td title="Character Accurarcy=99.34">USD1,164,576.17</td>
<td title="Character Accurarcy=98.96">USD9,338,409.60</td>
</tr>
<tr>
<td title="Character Accurarcy=99.3">Amount Allotted :</td>
<td title="Character Accurarcy=99.53">USD1,158,110.96</td>
<td title="Character Accurarcy=99.3">USD9,338,409.60</td>
</tr>
<tr>
<td title="Character Accurarcy=99.66">Highest Rate Received :</td>
<td title="Character Accurarcy=97.01">660.0000</td>
<td title="Character Accurarcy=98.37">655.0000</td>
</tr>
<tr>
<td title="Character Accurarcy=98.76">Lowest Bid Rate Allotted :</td>
<td title="Character Accurarcy=97.74">590.0000</td>
<td title="Character Accurarcy=96.44">590.0000</td>
</tr>
<tr>
<td title="Character Accurarcy=99.01">Weighted Average Rate :</td>
<td title="Character Accurarcy=99.91">626.1893</td>
</tr>
</tbody>
</table>
</div>
<table>
<tbody>
<tr>
<td title="Character Accurarcy=95.3">PURPOSE</td>
<td title="Character Accurarcy=99.28">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.33">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.44">Raw Materials</td>
<td title="Character Accurarcy=99.7">296,675.07</td>
<td title="Character Accurarcy=99.41">3,699,238.58</td>
</tr>
<tr>
<td title="Character Accurarcy=99.58">Machinery and Equipment</td>
<td title="Character Accurarcy=99.77">314,560.75</td>
<td title="Character Accurarcy=99.6">2,344,897.24</td>
</tr>
<tr>
<td title="Character Accurarcy=82.23">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.31">159,732.70</td>
<td title="Character Accurarcy=99.52">360,939.60</td>
</tr>
<tr>
<td title="Character Accurarcy=82.14">Services (Loans, Education Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.85">166,311.58</td>
<td title="Character Accurarcy=99.8">2,403,437.57</td>
</tr>
<tr>
<td title="Character Accurarcy=80.12">Retail and Distribution (Incl Food Beverages etc)</td>
<td title="Character Accurarcy=99.04">114,086.32</td>
<td title="Character Accurarcy=99.78">300,079.77</td>
</tr>
<tr>
<td title="Character Accurarcy=99.79">Electricity</td>
<td title="Character Accurarcy=74.09">–</td>
<td title="Character Accurarcy=66.77">–</td>
</tr>
<tr>
<td title="Character Accurarcy=99.34">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.54">47,371.06</td>
<td title="Character Accurarcy=99.43">229,816.84</td>
</tr>
<tr>
<td title="Character Accurarcy=99.54">Paper and Packaging</td>
<td title="Character Accurarcy=99.14">59,373.48</td>
<td title="Character Accurarcy=69.52">–</td>
</tr>
<tr>
<td title="Character Accurarcy=99.84">TOTAL</td>
<td title="Character Accurarcy=99.65">1,158,110.96</td>
<td title="Character Accurarcy=92.61">9,338,409.60</td>
</tr>
<tr>
<td title="Character Accurarcy=99.78">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=99.4">10,496,520.56</td>
</tr>
</tbody>
</table>
<h2>Notes </h2>
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. 
3. Willing buyer Willing seller Bid Rate as of 30 September 2022 was ZW$596.2479 
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 04 October 2022

The Zimbabwe dollar continued to shed value against the United States dollar as observed at today’s foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ).</a>
The foreign exchange weighted average rate has fallen to US$1: ZWL$416.2890 from US$1: ZWL$403.4048 announced by the RBZ <a href="https://news.pindula.co.zw/2022/07/19/rbz-forex-auction-zimbabwe-dollar-official-rate-19-july-2022/">last week.</a>
At this week’s RBZ foreign currency auction conducted on Tuesday, 26 July 2022, a total of US$24.1 million was allotted.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
704 bids were received on the Small to Medium Enterprises Forex Auction, with 640 accepted and 64 disqualified. The total number of bids allotted was 620.
On the Main Forex Auction, a total of 236 bids were received, 223 were accepted and 13 were disqualified. The total number of bids allotted was 221.
The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis. 
<table class="table table-bordered table-hover" id="table_1" style="width: 84.9686%;">
<tbody>
<tr>
<td style="width: 71.6294%; text-align: center;" title="Character Accurarcy=99.55">                                                                                                SMEFX97/2022:</td>
<td style="width: 88.7921%;" title="Character Accurarcy=99.96">MAIN FX103/2022</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_1" style="width: 85.4571%;">
<tbody>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.76">Number of Bids Received :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.9">704</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=99.93">236</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.74">Number of Bids Disqualified :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.91">64</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=99.95">13</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.81">Total Number of Bids Accepted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.83">640</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=99.89">223</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.77">Total Number of Bids Allotted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.89">620</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=99.91">221</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.52">Total Value of Bids Accepted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=98.01">USD4,430,341.14</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=96.94">JSD19,865,492.03</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.09">Amount Allotted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=97.52">USD4,321,097.28</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=99.11">USD19,787,360.03</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.95">Highest Rate Received</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=96.08">: 500.0000</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=96.17">490.0000</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.1">Lowest Bid Rate Allotted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=96.48">398.0000</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=96.07">399.0000</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.67">Weighted Average Rate :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.29">416.2890</td>
<td style="width: 96.1847%; text-align: center;" title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_2">
<tbody>
<tr>
<td title="Character Accurarcy=99.55">PURPOSE</td>
<td title="Character Accurarcy=99.81">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.83">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.88">Raw Materials</td>
<td style="text-align: center;" title="Character Accurarcy=99.82">1,245,137.24</td>
<td style="text-align: center;" title="Character Accurarcy=99.83">10,699,121.87</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Machinery and Equipment</td>
<td style="text-align: center;" title="Character Accurarcy=99.9">1,623,759.77</td>
<td style="text-align: center;" title="Character Accurarcy=99.91">4,211,595.65</td>
</tr>
<tr>
<td title="Character Accurarcy=99.5">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.95">471,701.87</td>
<td style="text-align: center;" title="Character Accurarcy=99.72">1,370,024.51</td>
</tr>
<tr>
<td title="Character Accurarcy=99.18">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.85">430,799.05</td>
<td style="text-align: center;" title="Character Accurarcy=99.9">1,594,852.38</td>
</tr>
<tr>
<td title="Character Accurarcy=99.52">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.81">303,690.14</td>
<td style="text-align: center;" title="Character Accurarcy=99.51">1,024,040.24</td>
</tr>
<tr>
<td title="Character Accurarcy=99.94">Electricity</td>
<td style="text-align: center;" title="Character Accurarcy=99.7">0.00</td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
</tr>
<tr>
<td title="Character Accurarcy=99.56">Pharmaceuticals and Chemicals</td>
<td style="text-align: center;" title="Character Accurarcy=99.79">125,599.67</td>
<td style="text-align: center;" title="Character Accurarcy=99.9">660,457.97</td>
</tr>
<tr>
<td title="Character Accurarcy=99.83">Paper and Packaging</td>
<td style="text-align: center;" title="Character Accurarcy=99.88">120,409.54</td>
<td style="text-align: center;" title="Character Accurarcy=99.72">227,267.41</td>
</tr>
<tr>
<td title="Character Accurarcy=99.68">TOTAL</td>
<td style="text-align: center;" title="Character Accurarcy=99.82">4,321,097.28</td>
<td style="text-align: center;" title="Character Accurarcy=99.89">19,787,360.03</td>
</tr>
<tr>
<td title="Character Accurarcy=99.83">GRAND TOTAL AWARDED</td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
<td style="text-align: center;" title="Character Accurarcy=99.78">24,108,457.31</td>
</tr>
</tbody>
</table>
<h2>Notes </h2>
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. 
3. Willing buyer Willing Seller Bid Rate as at 22 July 2022 was ZWL397.3119
RESERVE BANK OF ZIMBABWE 
26 July 2022
<h2><a href="https://news.pindula.co.zw/">Pindula News</a></h2>

RBZ Forex Auction: Zimbabwe Dollar Official Rate 26 July 2022

The Zimbabwe School Examinations Council (ZIMSEC) has announced that parents and guardians of learners writing examinations in November 2022 will have to use the rate prevailing in the week of 22 to 29 July 2022 if they wish to pay in Zimbabwe dollars.
In a notice seen by Pindula News, ZIMSEC said the rate is ZW$455 to 1 United States dollar. Reads the notice:
<blockquote>
<h2>NOTIFICATION OF THE INTERBANK RATE TO BE APPLIED ON THE 2022 EXAMINATION FEES PAID IN ZWL</h2>
The Zimbabwe School Examinations Council would like to inform its stakeholders, parents/ guardians and candidates of the Interbank rate which shall apply when making payments for the 2022 Examination Fees in ZWL.
Fees are pegged in USD and parents who wish to make payments in USD or Rands are able to do so. Those who would like to make payments in ZWL will use the rate communicated herein from the period of 22 to 29 July 2022.
ZWL Interbank Rate The exchange rate to be applied for payments is ZWL 455 to 1 USD.
Payments for the examination fees should not be paid directly into ZIMSEC accounts by individual parents. Payments are made to the school or centre of registration for forward remission to ZIMSEC by the relevant authorities.
For more information or queries contact the ZIMSEC Regional offices or Head Office (0242 302623/4)
</blockquote>
<h2><a href="https://news.pindula.co.zw/">Pindula News</a></h2>

ZIMSEC Notice Of Interbank Rate To Be Applied For 2022 Exam Fees In ZWL$

The Zimbabwe dollar continued to shed value against the United States dollar as observed at today’s foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ).</a>
The foreign exchange weighted average rate has fallen to US$1: ZWL$403.4048 from US$1: ZWL$391.5339 announced by the RBZ <a href="https://news.pindula.co.zw/2022/07/12/rbz-forex-auction-zimbabwe-dollar-official-rate-12-july-2022/">last week.</a>
At this week’s RBZ foreign currency auction conducted on Tuesday, 19 July 2022, a total of US$22.92 million was allotted.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
594 bids were received on the Small to Medium Enterprises Forex Auction, with 569 accepted and 25 disqualified. The total number of bids allotted was 550.
On the Main Forex Auction, a total of 214 bids were received, 206 were accepted and 8 were disqualified. The total number of bids allotted was 200.
The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis. 
<table class="table table-bordered table-hover" id="table_1" style="width: 98.1258%;">
<tbody>
<tr>
<td style="width: 69.3835%; text-align: center;" title="Character Accurarcy=99.55">                                                                                                SMEFX96/2022:</td>
<td style="width: 91.038%;" title="Character Accurarcy=99.96">MAIN FX102/2022</td>
</tr>
</tbody>
</table>
<div class="row justify-content-center">
<table class="table table-bordered table-hover" id="table_1" style="width: 98.3257%;">
<tbody>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.37">Number of Bids Received :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=99.92">594</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=99.91">214</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.78">Number of Bids Disqualified :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=99.94">25</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=99.85">8</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.87">Total Number of Bids Accepted :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=99.95">569</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=99.97">206</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.73">Total Number of Bids Allotted :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=99.93">550</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=99.98">200</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.62">Total Value of Bids Accepted :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=98.58">USD3,867,264.37</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=99.08">USD19,685,492.47</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.05">Amount Allotted :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=98.67">USD3,762,731.31</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=98.46">USD19,161,542.54</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.24">Highest Rate Received :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=99.09">450.0000</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=99.03">442.0000</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.1">Lowest Bid Rate Allotted :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=98.97">382.0000</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=99.39">385.0000</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.54">Weighted Average Rate :</td>
<td style="width: 22.5439%; text-align: center;" title="Character Accurarcy=99.74">403.4048</td>
<td style="width: 113.534%; text-align: center;" title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
</div>
<div class="row justify-content-center">
<table class="table table-bordered table-hover" id="table_2">
<tbody>
<tr>
<td title="Character Accurarcy=99.85">PURPOSE</td>
<td title="Character Accurarcy=99.86">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.79">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Raw Materials</td>
<td style="text-align: center;" title="Character Accurarcy=99.87">1,140,296.19</td>
<td style="text-align: center;" title="Character Accurarcy=99.89">10,097,040.50</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td style="text-align: center;" title="Character Accurarcy=99.91">1,388,815.64</td>
<td style="text-align: center;" title="Character Accurarcy=99.93">3,897,765.28</td>
</tr>
<tr>
<td title="Character Accurarcy=99.63">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.91">419,958.82</td>
<td style="text-align: center;" title="Character Accurarcy=99.94">1,089,414.52</td>
</tr>
<tr>
<td title="Character Accurarcy=99.58">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.87">381,314.78</td>
<td style="text-align: center;" title="Character Accurarcy=99.77">1,678,373.14</td>
</tr>
<tr>
<td title="Character Accurarcy=99.63">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.89">269,662.01</td>
<td style="text-align: center;" title="Character Accurarcy=99.85">1,172,171.43</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Electricity</td>
<td style="text-align: center;" title="Character Accurarcy=99.94">3,068.45</td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
</tr>
<tr>
<td title="Character Accurarcy=99.83">Pharmaceuticals and Chemicals</td>
<td style="text-align: center;" title="Character Accurarcy=99.84">89,833.90</td>
<td style="text-align: center;" title="Character Accurarcy=99.84">477,217.61</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Paper and Packaging</td>
<td style="text-align: center;" title="Character Accurarcy=99.92">69,781.52</td>
<td style="text-align: center;" title="Character Accurarcy=99.94">749,560.06</td>
</tr>
<tr>
<td title="Character Accurarcy=99.79">TOTAL</td>
<td style="text-align: center;" title="Character Accurarcy=99.91">3,762,731.31</td>
<td style="text-align: center;" title="Character Accurarcy=99.9">19,161,542.54</td>
</tr>
<tr>
<td title="Character Accurarcy=99.87">GRAND TOTAL AWARDED</td>
<td style="text-align: center;" title="Character Accurarcy=99.85">22,924,273.85</td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
<h2><a href="https://news.pindula.co.zw/">Pindula News</a></h2>
</div>

RBZ Forex Auction: Zimbabwe Dollar Official Rate 19 July 2022

The Zambian Kwacha has gained value in recent months and is now stronger than the South African Rand and other currencies in the southern African region.
The Zambian Kwacha has continued to demonstrate its overall stability for a couple of months now.
The appreciation is largely attributed to low demand for dollars on the market. 
A recent check shows that the Zambian Kwacha is now 1: 1.04 South African Rand while USD1 is now 16.30 Zambian Kwacha.
In contrast, the Zimbabwean dollar continues to lose value against other currencies causing great confusion as to what could be wrong in Zimbabwe. 
Former Deputy Minister of Information, Publicity and Broadcasting Services, Energy Mutodi expressed disappointment while comparing Zimbabwe and Zambian currencies. He said:
<blockquote>
Difficult to explain why the Zim currency is on free fall even with better mineral resources, and hard-working &amp; educated people.
</blockquote>
Bank of Zambia (BoZ) Governor Dr Denny Kalyalya has attributed the recent appreciation of the Kwacha to a higher inflow of foreign exchange from the mines as well lumpy demand, mainly for energy, during the month of June.
According to the Bank of Zambia website, as of 15:30 hours on Friday, the Kwacha was buying at 16.34 and selling at 16.39, against the US dollar. 
While there is a low demand for the United States dollar in Zambia, the reverse is true in Zimbabwe.
Everybody, that is, the government, business and private citizens, want to get hold of the United States dollar.
This is mainly because the Zimbabwean industry is collapsed. Almost everything used in Zimbabwe is imported since the local industry cannot meet local demand. Imports demand foreign currency.
The huge backlog at the Reserve Bank of Zimbabwe (RBZ) SME and the Main foreign currency auction done every Tuesday is evidence of the huge demand for the greenback. 
Some attribute the instability of the Zimbabwe dollar to “bad leadership” which they say has <a href="https://news.pindula.co.zw/2022/07/09/zimbabweans-distrustful-of-gold-coins/">corroded public confidence</a> in the local unit.
Meanwhile, as earlier reported by Pindula News, the RBZ is set to <a href="https://news.pindula.co.zw/2022/07/04/reserve-bank-of-zimbabwe-rbz-announces-gold-coins-features-characteristics-ownership/">introduce gold coins on the 25th of July</a> as a measure to stabilise the Zimbabwe dollar and to restore the investors’ and public’s value.

Zambian Kwacha Now Stronger Than The South African Rand

The Zimbabwe dollar continued to shed value against the United States dollar as observed at today’s foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ).</a>
The foreign exchange weighted average rate has fallen to US$1: ZWL$ 366.2687 from US$1: ZWL$352.0626 announced by the RBZ <a href="https://news.pindula.co.zw/2022/06/14/rbz-foreign-auction-currency-zimbabwe-dollar-sheds-more-value-against-usd/">last week.</a>
At this week’s RBZ foreign currency auction conducted on Tuesday, 28 June 2022, a total of US$25.2 million was allotted.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
748 bids were received on the Small to Medium Enterprises Forex Auction, with 696 accepted and 52 disqualified. The total number of bids allotted was 695.
On the Main Forex Auction, a total of 261 bids were received, 247 were accepted and 14 were disqualified. The total number of bids allotted was 245.
The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis. 
<table class="table table-bordered table-hover" id="table_1" style="width: 98.2169%; height: 32px;">
<tbody>
<tr>
<td style="width: 42.612%;" title="Character Accurarcy=99.58"> </td>
<td style="width: 27.8318%;" title="Character Accurarcy=99.94">SMEFX94/2022</td>
<td style="width: 31.4662%;" title="Character Accurarcy=99.84">MAIN FX100/2022</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_1" style="width: 98.2308%; height: 257px;">
<tbody>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.58">Number of Bids Received :</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=99.94">748</td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=99.84">261</td>
</tr>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.14">Number of Bids Disqualified :</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=99.97">52</td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=99.8">14</td>
</tr>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.57">Total Number of Bids Accepted :</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=99.98">696</td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=99.77">247</td>
</tr>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.69">Total Number of Bids Allotted :</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=99.96">695</td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=99.96">245</td>
</tr>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.77">Total Value of Bids Accepted :</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=97.66">USD4,395,910.22</td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=97.03">USD21,448,724.90</td>
</tr>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.24">Amount Allotted :</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=98.58">USD4,390,229.79</td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=92.35">USD20,849,394.61</td>
</tr>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.98">Highest Rate Received</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=98.76">: 395.0000</td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=98.62">395.0000</td>
</tr>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.2">Lowest Bid Rate Allotted :</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=99.43">345.0000</td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=98.3">345.0000</td>
</tr>
<tr>
<td style="width: 42.5889%;" title="Character Accurarcy=99.35">Weighted Average Rate :</td>
<td style="width: 27.9497%; text-align: center;" title="Character Accurarcy=0"> </td>
<td style="width: 31.7845%; text-align: center;" title="Character Accurarcy=99.61">366.2687</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_2">
<tbody>
<tr>
<td title="Character Accurarcy=99.69">PURPOSE</td>
<td title="Character Accurarcy=99.66">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.71">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Raw Materials</td>
<td style="text-align: center;" title="Character Accurarcy=99.75">1,422,968.58</td>
<td style="text-align: center;" title="Character Accurarcy=99.68">10,310,884.58</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Machinery and Equipment</td>
<td style="text-align: center;" title="Character Accurarcy=99.9">1,482,605.26</td>
<td style="text-align: center;" title="Character Accurarcy=99.81">4,942,519.66</td>
</tr>
<tr>
<td title="Character Accurarcy=99.77">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.76">492,563.41</td>
<td style="text-align: center;" title="Character Accurarcy=99.82">1,374,386.40</td>
</tr>
<tr>
<td title="Character Accurarcy=99.67">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.83">364,347.78</td>
<td style="text-align: center;" title="Character Accurarcy=99.91">1,548,564.02</td>
</tr>
<tr>
<td title="Character Accurarcy=99.55">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.81">308,158.82</td>
<td style="text-align: center;" title="Character Accurarcy=99.63">1,146,502.41</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Electricity</td>
<td style="text-align: center;" title="Character Accurarcy=96.12">–</td>
<td style="text-align: center;" title="Character Accurarcy=99.84">29,657.74</td>
</tr>
<tr>
<td title="Character Accurarcy=99.54">Pharmaceuticals and Chemicals</td>
<td style="text-align: center;" title="Character Accurarcy=99.79">131,488.80</td>
<td style="text-align: center;" title="Character Accurarcy=99.73">1,044,449.46</td>
</tr>
<tr>
<td title="Character Accurarcy=99.83">Paper and Packaging</td>
<td style="text-align: center;" title="Character Accurarcy=99.69">188,097.14</td>
<td style="text-align: center;" title="Character Accurarcy=99.68">452,430.34</td>
</tr>
<tr>
<td title="Character Accurarcy=99.65">TOTAL</td>
<td style="text-align: center;" title="Character Accurarcy=99.89">4,390,229.79</td>
<td style="text-align: center;" title="Character Accurarcy=99.82">20,849,394.61</td>
</tr>
<tr>
<td title="Character Accurarcy=99.79">GRAND TOTAL AWARDED</td>
<td style="text-align: center;" title="Character Accurarcy=99.69">25,239,624.40</td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
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RBZ Forex Auction: Zimbabwe Dollar Official Rate 28 June 2022

The Zimbabwe dollar continued to shed value against the United States dollar as observed at today’s foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ).</a>
The foreign exchange weighted average rate has fallen to US$1: ZWL$ 352.0626 from US$1: ZWL$338.4921 announced by the RBZ <a href="https://news.pindula.co.zw/2022/06/14/rbz-foreign-auction-currency-zimbabwe-dollar-sheds-more-value-against-usd/">last week.</a>
At this week’s RBZ foreign currency auction conducted on Tuesday, 21 June 2022, a total of US$24.8 million was allotted.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
770 bids were received on the Small to Medium enterprises forex auction, with 698 accepted and 72 disqualified. The total number of bids allotted was 688.
On the main forex auction, a total of 279 bids were received, 257 were accepted and 22 were disqualified. The total number of bids allotted was 254.
The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis. 
<table class="table table-bordered table-hover" id="table_1" style="width: 95.2279%; height: 32px;">
<tbody>
<tr>
<td style="width: 46.5446%;" title="Character Accurarcy=99.74"> </td>
<td style="width: 25.0467%;" title="Character Accurarcy=99.96">SMEFX93/2022</td>
<td style="width: 117.925%;" title="Character Accurarcy=99.93">MAIN FX99/2022</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_1" style="width: 95.0845%;">
<tbody>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.74">Number of Bids Received :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.96">770</td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=99.93">279</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.74">Number of Bids Disqualified :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.95">72</td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=99.92">22</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.81">Total Number of Bids Accepted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.75">698</td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=99.98">257</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.73">Total Number of Bids Allotted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.9">688</td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=99.95">254</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.61">Total Value of Bids Accepted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=99.4">USD3,532,866.47</td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=97.48">USD21,534,506.41</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.44">Amount Allotted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=98.64">USD3,489,505.04</td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=99.23">USD21,408,737.57</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.53">Highest Rate Received :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=98.15">375.0000</td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=97.74">375.0000</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.51">Lowest Bid Rate Allotted :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=97.46">330.0000</td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=97.49">330.0000</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.55">Weighted Average Rate :</td>
<td style="width: 24.8996%; text-align: center;" title="Character Accurarcy=0"> </td>
<td style="width: 116.321%; text-align: center;" title="Character Accurarcy=99.25">352.0626</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_2" style="width: 95.0339%;">
<tbody>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.57">PURPOSE</td>
<td style="width: 26.4529%; text-align: left;" title="Character Accurarcy=99.78">AMOUNT ALLOTTED SME AUCTION</td>
<td style="width: 28.1481%; text-align: left;" title="Character Accurarcy=99.84">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.85">Raw Materials</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.91">957,593.45</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.67">10,702,657.11</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.95">Machinery and Equipment</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.9">1,232,585.88</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.75">5,147,821.43</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.44">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.72">374,354.35</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.84">1,119,943.76</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.14">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.21">309,683.41</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.87">1,306,746.74</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.51">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.84">267,646.08</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.76">1,575,999.13</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.93">Electricity</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.47">0</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.92">59,485.00</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.63">Pharmaceuticals and Chemicals</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.88">176,963.70</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.84">1,088,300.65</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.8">Paper and Packaging</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.77">170,678.17</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.85">407,783.75</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.69">TOTAL</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=99.92">3,489,505.04</td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.89">21,408,737.57</td>
</tr>
<tr>
<td style="width: 44.4465%;" title="Character Accurarcy=99.75">GRAND TOTAL AWARDED</td>
<td style="width: 26.4529%; text-align: center;" title="Character Accurarcy=0"> </td>
<td style="width: 28.1481%; text-align: center;" title="Character Accurarcy=99.1">24,898,242.61</td>
</tr>
</tbody>
</table>
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed <a href="https://zero.pindula.co.zw/download/?utm_source=PindulaArticles&amp;utm_campaign=DownloadLink">via the App. Download it here</a></h2>

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