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*RBZ Forex Auction 22 March 2022: Zimbabwe Dollar Continues To Fall*

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The local currency has lost further ground against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 22 March 2022.

This week the weighted average was US$1: ZWL$138.1979 down from the 15 March 2022 rate that stood at US$1: ZWL$134.0820.

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In total, US$36.8 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week.

1 102 bids were received on the Small to Medium enterprises forex auction, with 1 011 accepted and 91 disqualified. The total number of bids allotted was 977.

On the main forex auction, a total of 450 bids were received, 413 were accepted and 37 were disqualified. The total number of bids allotted was 399.

The RBZ said 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.

SMEFX80/2022
MAIN FX86/2022

Number of Bids Received :
1102
450

Number of Bids Disqualified :
91
37

Total Number of Bids Accepted
: 1011
413

Total Number of Bids Allotted
: 977
399

Total Value of Bids Accepted
: USD6,726,743.14
USD31,001,078.43

Amount Allotted
: USD6,625,160.56
USD30,182,270.46

Highest Rate Received :
150.0000
150.0000

Lowest Bid Rate Allotted :
131.0000
134.0000

Weighted Average Rate :
138.1979

PURPOSE
AMOUNT ALLOTTED SME AUCTION
AMOUNT ALLOTTED MAIN AUCTION

Raw Materials
1,530,260.33
12,202,419.26

Machinery and Equipment
2,341,914.36
7,377,814.72

Consumables (Incl. Spares, Tyres, Electricals, etc)
1,009,904.53
2,263,608.77

Services (Loans, Education, Dividends, Disinvestments, etc)
554,119.87
2,334,215.44

Retail and Distribution (Incl. Food, Beverages, etc)
724,837.25
3,565,969.42

Electricity
44,593.65
0.00

Pharmaceuticals and Chemicals
278,587.70
1,410,974.56

Paper and Packaging
140,942.87
1,027,268.29

TOTAL
6,625,160.56
30,182,270.46

GRAND TOTAL AWARDED
36,807,431.02

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