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RBZ Forex Auction: Zimbabwe Dollar Official Rate 26 July 2022

RBZ Forex Auction: Zimbabwe Dollar Official Rate 26 July 2022

The Zimbabwe dollar continued to shed value against the United States dollar as observed at today’s foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ).

The foreign exchange weighted average rate has fallen to US$1: ZWL$416.2890 from US$1: ZWL$403.4048 announced by the RBZ last week.

At this week’s RBZ foreign currency auction conducted on Tuesday, 26 July 2022, a total of US$24.1 millionwas allotted.

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

704 bids were received on the Small to Medium Enterprises Forex Auction, with 640 accepted and 64 disqualified. The total number of bids allotted was 620.

On the Main Forex Auction, a total of 236 bids were received, 223 were accepted and 13 were disqualified. The total number of bids allotted was 221.

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. 

                                                                                                SMEFX97/2022: MAIN FX103/2022
Number of Bids Received : 704 236
Number of Bids Disqualified : 64 13
Total Number of Bids Accepted : 640 223
Total Number of Bids Allotted : 620 221
Total Value of Bids Accepted : USD4,430,341.14 JSD19,865,492.03
Amount Allotted : USD4,321,097.28 USD19,787,360.03
Highest Rate Received : 500.0000 490.0000
Lowest Bid Rate Allotted : 398.0000 399.0000
Weighted Average Rate : 416.2890
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,245,137.24 10,699,121.87
Machinery and Equipment 1,623,759.77 4,211,595.65
Consumables (Incl. Spares, Tyres, Electricals, etc) 471,701.87 1,370,024.51
Services (Loans, Education, Dividends, Disinvestments, etc) 430,799.05 1,594,852.38
Retail and Distribution (Incl. Food, Beverages, etc) 303,690.14 1,024,040.24
Electricity 0.00
Pharmaceuticals and Chemicals 125,599.67 660,457.97
Paper and Packaging 120,409.54 227,267.41
TOTAL 4,321,097.28 19,787,360.03
GRAND TOTAL AWARDED 24,108,457.31

Notes

1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.

2. Some Bids were allotted on a pro-rata basis.

3. Willing buyer Willing Seller Bid Rate as at 22 July 2022 was ZWL397.3119

RESERVE BANK OF ZIMBABWE 26 July 2022

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10 Comments

the Zebra 2 weeks ago

they are saying 416to $ but the Zimsec rate was pegged at 455 , Isn't that a speculative behavior ?


youth 2 weeks ago

@the Zebra...Incase rikakwira USA racho... because tikupinda mu 1 thousand kupera Kwa September

veggie 2 weeks ago

last kick o the dying horse😷


. 2 weeks ago

455 is inter bank rate Zebhu.


the Zebra 2 weeks ago

OK thanks so it means interbank rate differs from gvt rate


Sekuru waBona 2 weeks ago

business is allowed to add 10% on the rbz rate so zimsec speculated on this since the fees are due from 22-29


c 2 weeks ago

CCC real change


Jah🇿🇼Tsvarie-07 2 weeks ago

On the 26th of July the rate will be much closer to 455, exams payment closing date is 29 July 🥱 feeling sleepy hangu 😀 mangwana kubasa kuma Rtgs$ no ways till after elections...


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Gwedu 2 weeks ago

Ngazvidonhe zvipere



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