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RBZ Forex Auction: Zimbabwe Dollar Official Rate 16 August 2022

RBZ Forex Auction: Zimbabwe Dollar Official Rate 16 August 2022

The value of the Zimbabwe dollar has continued its downward spiral against the United States dollar at the official foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ).

The foreign exchange weighted average rate fell to US$1: ZWL$494.9883 from US$1: ZWL$478.6358announced by the RBZ last week.

At this week’s RBZ foreign currency auction conducted on Tuesday, 16 August 2022, a total of US$16.6 millionwas allotted.

The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.

328 bids were received on the Small to Medium Enterprises Forex Auction, with 325 accepted and 3 disqualified. The total number of bids allotted was 316.

On the Main Forex Auction, a total of 134 bids were received, 127 were accepted and 7 were disqualified. The total number of bids allotted was 120.

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

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

The willing buyer willing seller bid rate as of 11 August 2022 was ZWL$459.3308.

Number of Bids Received :

SMEFX101/2022

328

MAIN FX107/2022

134

Number of Bids Disqualified : 3 7
Total Number of Bids Accepted : 325 127
Total Number of Bids Allotted : 316 120
Total Value of Bids Accepted : USD2,995,988.89 USD14,078,262.83
Amount Allotted : USD2,922,259.56 USD13,693,994.57
Highest Rate Received : 550.0000 550.0000
Lowest Bid Rate Allotted : 460.0000 460.0000
Weighted Average Rate : 494.9883
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 885,441.90 7,384,103.02
Machinery and Equipment 1,072,573.36 2,454,333.40
Consumables (Incl. Spares, Tyres, Electricals, etc) 347,769.06 1,136,376.08
Services (Loans, Education, Dividends, Disinvestments, etc) 239,723.78 1,616,091.90
Retail and Distribution (Incl. Food, Beverages, etc) 185,127.98 635,402.88
Electricity
Pharmaceuticals and Chemicals 100,573.34 308,449.29
Paper and Packaging 91,050.14 159,238.00
TOTAL 2,922,259.56 13,693,994.57
GRAND TOTAL AWARDED 16,616,254.13

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22 Comments

bless B 1 month ago

Zim dollar loosing value every Tuesday , haaaa


bBhibhidho 1 month ago

zim dollar dzangova nharo idzi


NDAIFURA TICHA NEREKENI 1 month ago

Ini zvemari izvi hapana chandinombonzwa. Zvotoda vakazviendera kuchikoro.


NDAFURA TICHA NEREKENI 1 month ago

MUONO wenyu wakanaka, ndichaita sekudaro ndinzwisise ana BOEs, CDI....

youth 1 month ago

wadi wadzokera ECD mbumburu iwe.... chikoro chakanaka

dispenser 1 month ago

like as if loosing against US $ only. infect loosing against all currencies


the Zebra 1 month ago

Every Tuesday , meaning to say after one year where will we be ,


Dr Herc 1 month ago

The Zim dollar is a joke.# Tuesday comedy sessions


Tozivepiko 1 month ago

Zim dollars Monya pama Monya. Ko zvaita seyi manje? Hapana Haana apoooo.


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pk 1 month ago

why dollar rakungidonha by 12to 14points every week. we the ordinary citizens must see and feel the positive impact of gold coins.


Tkt 1 month ago

@pk... Like we said, the impact of the fold coins won't be seen rapidly but gradually


pk 1 month ago

why can't they pay service providers and contractors with gold coins.
this I say because they are saying contractors are fuelling black market rate. vakapihwa gold coin havambouyi nari kublack market nekuti hatina mari yekuritenga nayo.

Munhu waShe 1 month ago

Kozvavakati gold coin ririkudzikamisa bond ivovachingoridonhedza zvirikufamba sei


Smokin on top5 1 month ago

Strongest currency in the region inongoremerwa neMatombo ayakatakura chete


1 month ago

saka ngaabviswe matombo acho 😂😂😂

Mshayazafe 1 month ago

Used to it now...every Tuesday is DDay. Better phase out the Zim dollar and phase in he Mosi gold coin


sirpeter 1 month ago

we need to remove the zim dollar we are not ready to have our own currency


Gaffer ✪ω✪ 1 month ago

The Zimbabwe dollar is not loosing value, it is in search of Its real value. A time will come were it will become stable.


Gafa 1 month ago

Mangundya arikudonhedza strongest crrency ngaari kwidzeka by ginya kkkkkk fools


Kule Dhambi 1 month ago

It will not work.


the Zebra 1 month ago

If the Zimdollar fails ,I will quit my job , I'm Now quiting


The King of Serpents 1 month ago

Kunoku rate riri pa 800 bond padollar. Vamwe 900.



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