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*RBZ Foreign Currency Auction Results: 20/07/2021*

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The Zimbabwe dollar further weakened against the US dollar on the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday 20 June 2021.

Last week the weighted average was US$1: ZWL$85.5099, falling to US$1: ZWL$85.6372 this week.

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This week, US$8.7 million was allocated to the Small to Medium Enterprises forex auction while US$37.3 million was allocated to the main forex auction.

In total, US$46 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

RBZ Forex Auction Results – 06 July 2021
Zimbabwe Dollar Loses Further Ground Against The US Dollar
RBZ Forex Auction: Zimbabwe Dollar Firms Against USD

588 bids were received on the Small to Medium enterprises forex auction, with 544 accepted and 44 disqualified.

On the main forex auction, a total of 402 bids were received, 370 were accepted while 32 were disqualified.

The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.

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

Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said. Below is the RBZ summary of the forex auction:

SMEFX47/2021
MAIN FX53/2021

Number of Bids Received :
588
402

Number of Bids Disqualified :
44
32

Total Number of Bids Accepted :
544
370

Total Number of Bids Allotted :
544
370

Total Value of Bids Accepted :
USD8,733,042.62
USD37,295,634.31

Amount Allotted :
USD8,733,042.62
USD37,295,634.31

Highest Rate Received :
90.0000
90.0000

Lowest Bid Rate Received :
82.0000
82.0000

Lowest Bid Rate Allotted :
82.0000
82.0000

Weighted Average Rate :
85.6373

PURPOSE
AMOUNT ALLOTTED SME AUCTION
AMOUNT ALLOTTED MAIN AUCTION

Raw Materials
2,027,591.73
15,100,167.36

Machinery and Equipment
2,014,127.79
9,539,708.98

Consumables (Incl. Spares, Tyres, Electricals, etc)
1,984,305.33
3,104,800.09

Services (Loans, Education, Dividends, Disinvestments, etc)
606,061.45
911,998.04

Retail and Distribution (Incl. Food, Beverages, etc)
968,244.79
3,713,743.57

Fuel, Electricity and Gas
278,492.74
1,748,127.88

Pharmaceuticals and Chemicals
563,690.77
2,449,332.18

Paper and Packaging
290,528.02
727,756.21

TOTAL
8,733,042.62
37,295,634.31

GRAND TOTAL AWARDED

46,028,676.93

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