The Zimbabwe dollar has lost more ground against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction, data from the RBZ forex auction conducted on Tuesday, 07 December 2021 shows.
This week, the weighted average was US$1: ZWL$108.6678 down from last week’s rate that stood at US$1:ZWL$105.6896.
In total, US$40.82 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is up from the US$39.14 million allotted last week.
770 bids were received on the Small to Medium enterprises forex auction, with 560 accepted and 210 disqualified. The total number of bids allotted was 560.
On the main forex auction, a total of 521 bids were received, 404 were accepted and 117 were disqualified. The total number of bids allotted was 404.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
|Number of Bids Received||770||521|
|Number of Bids Disqualified||210||117|
|Total Number of Bids Accepted||560||404|
|Total Number of Bids Allotted||560||404|
|Total Value of Bids Accepted :||SD6,147,829.66||USD34,672,497.78|
|Amount Allotted :||JSD6,147,829.66||USD34,672,497.78|
|Highest Rate Received :||125.0000||125.0000|
|Lowest Bid Rate Received :||100.0000||100.0000|
|Lowest Bid Rate Allotted :||100.0000||100.0000|
|Weighted Average Rate :||108.6678|
|PURPOSE||AMOUNT ALLOTTED SME AUCTION||AMOUNT ALLOTTED MAIN AUCTION|
|Machinery and Equipment||2,286,330.76||10,549,444.22|
|Consumables (Incl. Spares, Tyres, Electricals, etc)||637,511.53||3,081,031.44|
|Services (Loans, Education, Dividends, Disinvestments, etc)||497,741.21||1,994,435.40|
|Retail and Distribution (Incl. Food, Beverages, etc)||458,991.16||2,850,071.31|
|Fuel, Electricity and Gas||9,970.00|
|Pharmaceuticals and Chemicals||351,252.03||1,476,312.67|
|Paper and Packaging||142,402.34||672,550.74|
|GRAND TOTAL AWARDED||40,820,327.44|