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*RBZ Forex Auction Results – 08 February 2022*

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The value of the Zimbabwe dollar further depreciated against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction.

Data released by the central bank following the forex auction conducted on Tuesday, 08 February 2022 shows that the value of the local currency fell by $2.2248 against the US dollar.

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This week the weighted average was US$1: ZWL118.8748 down from the 01 February 2022 rate that stood at US$1: ZWL116.6500,

In total, US$37,160,200.79 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is a little bit lower than the 37,548,580.33 million allotted last week.

898 bids were received on the Small to Medium enterprises forex auction, with 798 accepted and 100 disqualified. The total number of bids allotted was 723.

On the main forex auction, a total of 536 bids were received, 451 were accepted and 85 were disqualified. The total number of bids allotted was 410.

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

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

Number of Bids Received :
898
536

Number of Bids Disqualified :
100
85

Total Number of Bids Accepted :
798
451

Total Number of Bids Allotted :
723
410

Total Value of Bids Accepted :
USD 7,633,061.96
USD32,792,172.96

Amount Allotted :
USD 6,961,341.90
USD30,198,858.89

Highest Rate Received :
135.0000
130.0000

Lowest Bid Rate Allotted :
115.0000
116.0000

Weighted Average Rate :
118.8748

PURPOSE
AMOUNT ALLOTTED SME AUCTION
AMOUNT ALLOTTED MAIN AUCTION

Raw Materials
1,802,664.35
11,821,018.14

Machinery and Equipment
2,264,729.79
7,901,825.18

Consumables (Incl. Spares, Tyres, Electricals, etc)
876,554.00
3,562,165.30

Services (Loans, Education, Dividends, Disinvestments, etc)
916,491.54
1,661,438.04

Retail and Distribution (Incl. Food, Beverages, etc)
568,363.12
3,280,283.01

Electricity
20,620.00
0.00

Pharmaceuticalsand Chemicals
353,407.93
1,397,826.60

Paper and Packaging
158,511.17
574,302.62

TOTAL
6,961,341.90
30,198,858.89

GRAND TOTAL AWARDED
37,160,200.79

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