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*RBZ Forex Auction: Zimbabwe Dollar Official Rate*

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The Reserve Bank of Zimbabwe (RBZ) announced that the official forex exchange rate rose to US$1: ZWL$1,070 on May 2, 2023, up from US$1: ZWL$1,021.2072, reported on April 25, 2023.

The central bank allotted a total of US$19,053,366.38 down from US$20,742,566.66, with the majority of the allotment going to raw materials, followed by machinery and equipment.

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The amount allotted for the Small to Medium Enterprises Forex Auction was US$2,280,785.72 up from US$1,707,854.70, while the Main Forex Auction was allotted US$16,772,580.66 down from US$19,034,711.96.

> ♦ Weighted Average Rate moved to 1,070 .4171 Uup from 1,021.2072.

*How the money was allocated:*

> Raw Materials …………………………………………………………….. SMEFX US$607,706.75 … MAIN FX US$7,504,908.11

> Machinery and Equipment ………………………………………… SMEFX US$858,356.28 … MAIN FX US$3,212,928.08

> Consumables (Incl. Spares, Tyres, Electricals, etc) ……….. SMEFX US$272,218.43 … MAIN FX US$1,139,123.93

> Services (Loans, Education, Dividends, Disinvestments, etc) …  SMEFX US$210,240.59 … MAIN FX US$1,119,089.13

> Retail and Distribution (Incl. Food, Beverages, etc) …….. SMEFX US$208,569.60 … MAIN FX US$2,624,559.22

> lubricants – …………………………………………………………….. MAIN FX US$37,507.60

> Pharmaceuticals and Chemicals ………………………………… SMEFX US$74,941.02 MAIN FX US$404,336.92

> Paper and Packaging …………………………………………………. SMEFX US$48,753.05 MAIN FX US$730,127.67

> TOTAL …………………………………..SMEFX135/2023: US$2,280,785.72 MAIN FX141/2023: US$16,772,580.66

> GRAND TOTAL AWARDED ……….. US$19,053,366.38

Notes

> 1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified. 2. Some Bids were allotted on a pro-rata basis.

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