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*RBZ Forex Auction 19/10/2021: Zimbabwe Dollar Continues To Weaken Against USD* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?wz The Zimbabwe dollar continued on a downward trajectory after losing further ground against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 19 October 2021. Last week the weighted average was US$1: ZWL$90.0792 and fell to US$1: ZWL$93.0810 this week. ---------- Latest itel A06 on Pindula: 32GB storage, 4GB RAM $69 USD WhatsApp: +263715068543 Calls: 0772464000 ---------- This week, US$11 million was allocated to the Small to Medium Enterprises forex auction while US$36.6 million was allocated to the main forex auction. In total, US$47.7 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. 1369 bids were received on the Small to Medium enterprises forex auction, with 1298 accepted and 71 disqualified. The total number of bids was 1243. On the main forex auction, a total of 559 bids were received, 520 were accepted while 39 were disqualified. The total number of bids was 502. 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. Number of Bids Received SMEFX62/2021 1369 MAIN FX68/2021 559 Number of Bids Disqualified : 71 39 Total Number of Bids Accepted : 1298 520 Total Number of Bids Allotted : 1243 502 Total Value of Bids Accepted : USD11,188,380.30 USD37,373,661.57 Amount Allotted : USD11,017,388.12 USD36,688,161.11 Highest Rate Received : 105.0000 102.0000 Lowest Bid Rate Received : 88,5000 88.5000 Lowest Bid Rate Allotted : 90,0000 90,0000 Weighted Average Rate : 93.0810 PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION Raw Materials 3,049,941.67 13,799,777.83 Machinery and Equipment 3,460,523.13 9,877,882.27 Consumables (Incl. Spares, Tyres, Electricals, etc) 1,869,021.43 4,290,143.67 Services (Loans, Education, Dividends, Disinvestments, etc) 1,096,008.34 1,835,546.53 Retail and Distribution (Incl. Food, Beverages, etc) 985,439.47 3,309,357.86 Fuel, Electricity and Gas – 87,142.85 Pharmaceuticals and Chemicals 356,694.20 2,181,884.67 Paper and Packaging 199,759.88 1,306,425.43 TOTAL 11,017,388.12 36,688,161.11 GRAND TOTAL AWARDED 47,705,549.23 *More: Pindula News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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