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RBZ Forex Auction 22 March 2022: Zimbabwe Dollar Continues To Fall

RBZ Forex Auction 22 March 2022: Zimbabwe Dollar Continues To Fall

The local currency has lost further ground against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 22 March 2022.

This week the weighted average was US$1: ZWL$138.1979 down from the 15 March 2022 rate that stood at US$1: ZWL$134.0820.

In total, US$36.8 millionwas allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week.

1 102 bids were received on the Small to Medium enterprises forex auction, with 1 011 accepted and 91 disqualified. The total number of bids allotted was 977.

On the main forex auction, a total of 450 bids were received, 413 were accepted and 37 were disqualified. The total number of bids allotted was 399.

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.

                                                                                        SMEFX80/2022 MAIN FX86/2022
Number of Bids Received : 1102 450
Number of Bids Disqualified : 91 37
Total Number of Bids Accepted : 1011 413
Total Number of Bids Allotted : 977 399
Total Value of Bids Accepted : USD6,726,743.14 USD31,001,078.43
Amount Allotted : USD6,625,160.56 USD30,182,270.46
Highest Rate Received : 150.0000 150.0000
Lowest Bid Rate Allotted : 131.0000 134.0000
Weighted Average Rate : 138.1979
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,530,260.33 12,202,419.26
Machinery and Equipment 2,341,914.36 7,377,814.72
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,009,904.53 2,263,608.77
Services (Loans, Education, Dividends, Disinvestments, etc) 554,119.87 2,334,215.44
Retail and Distribution (Incl. Food, Beverages, etc) 724,837.25 3,565,969.42
Electricity 44,593.65 0.00
Pharmaceuticals and Chemicals 278,587.70 1,410,974.56
Paper and Packaging 140,942.87 1,027,268.29
TOTAL 6,625,160.56 30,182,270.46
GRAND TOTAL AWARDED 36,807,431.02

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12 Comments

MuGrade 2 1 month ago

In April rate would be 1:250....May 1:300... June 1:400 .. . it's high time we get rid of our failed currency.. let's adopt RAND....


Chewe Mulenga 1 month ago

This looks like a managed exchange rate. Going up by the same margin week on week.


Jinn 1 month ago

We're Yet To Discover The Real Exchange Rate - Finance Minister Ncube


Anonymous 1 month ago

People do not have confidence ne Zanu.
vanovavhotera vacho they r no economicaly active


Mafirakureva 1 month ago

.... and mentally retarded

Dirigsme 1 month ago

Command Agriculture, command Health command curriculum now command economy. Hazvibude kusvikira mataurirana nemukomana.


Mafirakureva 1 month ago

Remember what Biti said?

"You can rig elections, you can capture the judiciary but you cannot rig the economy..."

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Seh 1 month ago

$1 : 1 bond. zvakazoenda nekupi


Jah🇿🇼Tsvarie-07 1 month ago

Something has to be done urgent coz that fall hits hard on our salaries, that alone makes a hungry man angry...


Musoro Wegomo Mukosi 1 month ago

point hama yangu,vari kumboziva kuti kune vanhu vari kurarama here munyika yavanoita kunge Misha wavo

Obey 1 month ago

Biti akataura kuti richasvika 500 as to 1 US dolla by june


Yvt 1 month ago

Njunga dzarema kkkkk. Zvirikungoda mukomana izvi



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