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RBZ Foreign Currency Auction Results: 20 April 2022

RBZ Foreign Currency Auction Results: 20 April 2022

The Zimbabwe dollar has continued to lose value against the US dollar on the Reserve Bank of Zimbabwe (RBZ) forex auction.

On Tuesday, 20 April 2022, the weighted average fell to US$1: ZWL$1155.1419 from US$1: ZWL$150.2157 which was reported by the RBZ on 12 April.

In total, US$30.3 millionwas allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week.

1 174 bids were received on the Small to Medium enterprises forex auction, with 1 122 accepted and 52 disqualified. The total number of bids allotted was 1 122.

On the main forex auction, a total of 437 bids were received, 417 were accepted and 20 were disqualified. The total number of bids allotted was 417.

The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.

Some bids were also allotted on a pro-rata basis.

Foreign Exchange Auction Results 20 April 2022 SME FX84/2022 MAIN FX90/2022
Number of Bids Received : 1 174 437
Number of Bids Disqualified : 52 20
Total Number of Bids Accepted : 1 122 417
Total Number of Bids Allotted : 1 122 417
Total Value of Bids Accepted : USD4,277,846.44 USD26,068,380.08
Amount Allotted : USD4,277,846.44 USD26,068,380.08
Highest Rate Received : 200.0000 175.00000
Lowest Bid Rate Allotted : 140.0000 145.8700
Weighted Average Rate : 155.1419
Raw Materials 1,028,490.67 12,432,100.95
Machinery and Equipment 1,469,672.45 6,424,792.61
Consumables (Incl. Spares, Tyres, Electricals, etc) 489,801.80 1,729,467.72
Services (Loans, Education, Dividends, Disinvestments, etc) 603,222.09 1,772,360.71
Retail and Distribution (Incl. Food, Beverages, etc) 363,293.68 2,053,313.04
Electricity 3,449.45
Pharmaceuticals and Chemicals 184,609.58 1,009,081.45
Paper and Packaging 135,306.72 647,263.60
TOTAL 4,277,846.44 26,068,380.08

More: Pindula News

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Machiavelli 3 months ago

The rate of US$1:ZWKacha 1,155. needs to be corrected.

I was almost shocked, but I was saved from coronary thrombosis after reading the weighted average

English teacher English teacher 3 months ago

Too many typing mistakes in your articles
Find a better typist and proof reader

chiurai 3 months ago

ko bank balances dzikuitwa sei lunge black market.

gari gari 3 months ago

so wats the correct auction rate

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