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|
|PURPOSE||AMOUNT ALLOTTED SME AUCTION||AMOUNT ALLOTTED MAIN AUCTION|
|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|
|Pharmaceuticals and Chemicals||184,609.58||1,009,081.45|
|Paper and Packaging||135,306.72||647,263.60|
|GRAND TOTAL AWARDED||30,346,226.52|