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*RBZ Forex Auction: Zimbabwe Dollar Official Rate 30 August 2022*

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The Zimbabwe dollar has lost further ground against the US dollar at the official foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) today, 30 August 2022.

The foreign exchange weighted average rate is now US$1: ZWL$546.8254 from US$1: ZWL$521.4351 announced by the RBZ last week.

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At this week’s RBZ foreign currency auction, a total of US$15.32 million was allotted to various sectors.

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

402 bids were received on the Small to Medium Enterprises Forex Auction, with 398 accepted and 4 disqualified. The total amount allotted was USD2 643 432.75.

On the Main Forex Auction, a total of 144 bids were received, 141 were accepted and 3 were disqualified. The total amount allotted was USD12 681 789.09.

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.

*The willing buyer willing seller bid rate as of 29 August 2022 was ZWL$517. 9032 up from ZWL$487.4680 on 19 August.*

SME FX103/2022
MAIN FX109/2022

Number of Bids Received :
402
144

Number of Bids Disqualified :
4
3

Total Number of Bids Accepted :
398
141

Total Number of Bids Allotted :
278
127

Total Value of Bids Accepted :
USD3,688,792.36
USD13,636,355.46

Amount Allotted :
USD2,643,432.75
USD12,681,789.09

Highest Rate Received
: 600,0000
605.0000

Lowest Bid Rate Allotted :
520.0000
520.0000

Weighted Average Rate :
546.8254

*PURPOSE*

*AMOUNT ALLOTTED SME AUCTION*

*AMOUNT ALLOTTED MAIN AUCTION*

Raw Materials
812,525.35
4,799,173.49

Machinery and Equipment
814,009.62
3,800,847.08

Consumables (Incl. Spares, Tyres, Electricals, etc)
345,580.06
1,196,777.11

Services (Loans, Education, Dividends, Disinvestments, etc)
352940.17
1,508,324.19

Retail and Distribution (Incl. Food, Beverages, etc)
138,840.56
773,243.03

Electricity
0
0

Pharmaceuticals and Chemicals
113,816.62
503,678.80

Paper and Packaging
65,720.37
99,745.39

TOTAL
2,643,432.75
12,681,789.09

GRAND TOTAL AWARDED
 
15,325,221.84

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