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*RBZ Forex Auction: Zimbabwe Dollar Official Rate 05 July 2022*

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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$379.2280 from US$1: ZWL$366.2687 announced by the RBZ last week.

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At this week’s RBZ foreign currency auction conducted on Tuesday, 05 July 2022, a total of US$23.3 million was allotted.

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

661 bids were received on the Small to Medium Enterprises Forex Auction, with 631 accepted and 30 disqualified. The total number of bids allotted was 623.

On the Main Forex Auction, a total of 232 bids were received, 225 were accepted and 7 were disqualified. The total number of bids allotted was 223.

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.

SMEFX95/2022
MAIN FX101/2022

Number of Bids Received :
661
232

Number of Bids Disqualified :
30
7

Total Number of Bids Accepted :
631
225

Total Number of Bids Allotted :
623
223

Total Value of Bids Accepted :
USD3,747,679.66
USD19,749,893.72

Amount Allotted :
USD3,714,582.77
USD19,678,200.34

Highest Rate Received :
405.0000
405.0000

Lowest Bid Rate Allotted :
357.0000
358.0000

Weighted Average Rate :
 
379.2280

PURPOSE
AMOUNT ALLOTTED SME AUCTION
AMOUNT ALLOTTED MAIN AUCTION

Raw Materials
1,053,813.06
10,392,012.65

Machinery and Equipment
1,325,359.34
3,713,592.90

Consumables (Incl. Spares, Tyres, Electricals, etc)
465,415.84
1,126,749.29

Services (Loans, Education, Dividends, Disinvestments, etc)
346,621.19
1,939,083.34

Retail and Distribution (Incl. Food, Beverages, etc)
228,776.94
1,324,487.84

Electricity
7,106.76
49,429.56

Pharmaceuticals and Chemicals
167,888.76
753,905.51

Paper and Packaging
119,600.88
378,939.25

TOTAL
3,714,582.77
19,678,200.34

GRAND TOTAL AWARDED
23,392,783.11

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