The Reserve Bank of Zimbabwe (RBZ) has revealed the Foreign Exchange Auction Allotments for August 2022 and Foreign Exchange Payments for the period January to August 2022.
In a statement, RBZ governor John Mangudya said that details about the allotments have been released to ensure that the public is informed of developments in the foreign exchange market. Part of the statement reads:
<blockquote>
In line with the Bank’s commitment to regularly keep the public informed of developments in the foreign exchange market, the Bank hereby publishes the following:
1. A list of the 352 beneficiaries of US$74 818 220 allotted under the Main Foreign Exchange Auction during the month of August 2022;
2. A list of the 1 154 beneficiaries of US$15 996 378 allotted under the SMEs Foreign
Exchange Auction during the month of August 2022; and
3. A schedule showing the total foreign exchange payments for the period January 2022 to August 2022, by source, amounting to US$5 306 865 010 broken down as follows: –
(i) foreign currency accounts (US$4 267 521 501),
(ii) Foreign Exchange Auction Allotments (US$925 501 215); and
(iii) the interbank market (US$113 842 293).
The bulk of the auction allotments during the month of August 2022 (71%) was for payment for raw materials (US$42 118 094) and machinery and equipment (US$22 343 924), with the remaining 29% of the total allotments going towards payment for services (US$9 345 489), consumables (US$7 913 708), retail and distribution (US$5 050 610), pharmaceuticals and chemicals (US$2 557 581), packaging (US$1 459 452) and fuel, electricity and gas (US$25 740), as shown in the tables below.
Total cumulative foreign exchange auction allotments since the inception of the Foreign Exchange Auction System stand at US$3 521 882 028.
</blockquote>
<a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/09/FOREIGN_EXCHANGE_AUCTION_SYSTEM_ALLOTMENTS_-_AUGUST_2022.pdf">Click the highlighted text to down the full statement in PDF format</a>

Pindula News

RBZ Foreign Exchange Payments For January To August 2022 | Full Statement

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, 20 September 2022, the weighted average rate has fallen to US$1: ZWL$613.3681.
Last week, the foreign exchange weighted average rate was US$1: ZWL$604.2580.
In an update seen by Pindula News, the central bank reported that a total of US$13.66 millionwas 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.
245 bids were received on the Small to Medium Enterprises Forex Auction, with 230 accepted and 15 disqualified. The total amount allotted was USD2,099,695.45 down from the USD2,196,092.29 allotted last week.
On the Main Forex Auction, a total of 103 bids were received, 100 were accepted and 3 were disqualified. The total amount allotted was USD11,562,566.29 down from USD13,429,628.61 allotted last week.
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.94">
<h2>SME FX105/2022</h2>
Number of Bids Received
</td>
<td title="Character Accurarcy=99.9">
<h2>MAIN FX111/2022</h2>
245
</td>
</tr>
<tr>
<td title="Character Accurarcy=99.63">Number of Bids Disqualified :</td>
<td title="Character Accurarcy=99.84">15</td>
</tr>
<tr>
<td title="Character Accurarcy=98.83">Total Number of Bids Accepted :</td>
<td title="Character Accurarcy=99.95">230</td>
</tr>
<tr>
<td title="Character Accurarcy=99.24">Total Number of Bids Allotted :</td>
<td title="Character Accurarcy=99.9">229</td>
</tr>
<tr>
<td title="Character Accurarcy=99.67">Total Value of Bids Accepted :</td>
<td title="Character Accurarcy=99.09">USD2,109,508.47</td>
</tr>
<tr>
<td title="Character Accurarcy=98.91">Amount Allotted :</td>
<td title="Character Accurarcy=99.33">USD2,099,695.45</td>
</tr>
<tr>
<td title="Character Accurarcy=98.55">Highest Rate Received :</td>
<td title="Character Accurarcy=99.25">655.0000</td>
</tr>
<tr>
<td title="Character Accurarcy=98.63">Lowest Bid Rate Allotted :</td>
<td title="Character Accurarcy=98.38">570.0000</td>
</tr>
<tr>
<td title="Character Accurarcy=99.01">Weighted Average Rate :</td>
<td title="Character Accurarcy=99.76">613.3681</td>
</tr>
</tbody>
</table>
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.83">PURPOSE</td>
<td title="Character Accurarcy=99.84">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.62">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Raw Materials</td>
<td title="Character Accurarcy=99.89">544,543.20</td>
<td title="Character Accurarcy=99.88">5,481,712.32</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td title="Character Accurarcy=99.9">664,958.47</td>
<td title="Character Accurarcy=99.86">2,897,448.71</td>
</tr>
<tr>
<td title="Character Accurarcy=99.32">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.97">286,454.89</td>
<td title="Character Accurarcy=99.93">781,648.34</td>
</tr>
<tr>
<td title="Character Accurarcy=99">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.97">288,805.86</td>
<td title="Character Accurarcy=99.95">1,095,578.45</td>
</tr>
<tr>
<td title="Character Accurarcy=99.4">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.75">163,244.46</td>
<td title="Character Accurarcy=99.95">766,563.72</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Electricity</td>
<td title="Character Accurarcy=99.89">51,255.00</td>
</tr>
<tr>
<td title="Character Accurarcy=99.82">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.89">92,325.75</td>
<td title="Character Accurarcy=99.78">353,813.31</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Paper and Packaging</td>
<td title="Character Accurarcy=99.93">59,362.82</td>
<td title="Character Accurarcy=99.92">134,546.44</td>
</tr>
<tr>
<td title="Character Accurarcy=99.83">TOTAL</td>
<td title="Character Accurarcy=99.91">2,099,695.45</td>
<td title="Character Accurarcy=99.89">11,562,566.29</td>
</tr>
<tr>
<td title="Character Accurarcy=99.84">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=99.84">13,662,261.74</td>
</tr>
</tbody>
</table>
<h2>Notes</h2>
<blockquote>
1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZW$ 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 9 September 2022 was ZW$568.1885.
</blockquote>

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