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*RBZ Foreign Currency Auction: Zimbabwe Dollar Continues On Downward Trend*

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The Zimbabwe dollar further dropped against the United States Dollar (USD) when the Reserve Bank of Zimbabwe (RBZ) conducted a foreign currency (forex) auction on Tuesday 22 June 2021.

Results from the RBZ forex auction show that the weighted average fell slightly from US$1: ZWL$85.2455  last week to US$1: ZWL$85.3664 this week.

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Forex Auction: Zimbabwe Dollar Sheds Value Against USD – 8 June 2021
Forex Auction Results: Rate Remains Fixed At Just Under ZWL$85 – 1 June
DRC Ambassador Listed As Top Beneficiary Of RBZ Foreign Currency Auction
RBZ Forex Auction: Zimbabwe Dollar Weaken Further Against USD – 18 May
PDF: RBZ List Of Forex Auction System Beneficiaries
RBZ Foreign Currency Auction: Zimbabwe Dollar Drops Against USD – 5 May

This week US$7.8 million was allocated to the Small to Medium Enterprises forex auction while US$37 million was allocated to the main forex auction.

In total, US$44.8 million was allotted this week, down from US$46.7 million allotted last week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

537 bids were received on the Small to Medium enterprises forex auction, with 508 accepted and 29 disqualified.

On the main forex auction, a total of 409 bids were received, 372 were accepted while 37 were disqualified.

The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.

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

Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said. Pindula News present below the table summarising what transpired on Tuesday.

RBZ Forex Auction: Zimbabwe Dollar Further Drops
Forex Auction: Zimbabwe Dollar Sheds Value Against USD – 8 June 2021
Forex Auction Results: Rate Remains Fixed At Just Under ZWL$85 – 1 June
DRC Ambassador Listed As Top Beneficiary Of RBZ Foreign Currency Auction
RBZ Forex Auction: Zimbabwe Dollar Weaken Further Against USD – 18 May
PDF: RBZ List Of Forex Auction System Beneficiaries
RBZ Forex Auction: Zimbabwe Dollar Drops Against USD – 5 May

PURPOSE
AMOUNT ALLOTTED SME AUCTION
AMOUNT ALLOTTED MAIN AUCTION

Raw Materials
1,909,453.06
14,483,454.34

Machinery and Equipment
1,975,881.39
8,283,239.11

Consumables (Incl. Spares, Tyres, Electricals, etc)
1,937,073.90
2,568,998.59

Services (Loans, Education, Dividends, Disinvestments, etc)
509,698.84
1,863,690.12

Retail and Distribution (Incl. Food, Beverages, etc)
689,849.28
3,469,710.01

Fuel, Electricity and Gas
156,771.88
1,317,791.03

Pharmaceuticals and Chemicals
344,133.59
3,814,738.43

Paper and Packaging
283,086.56
1,151,027.28

TOTAL
7,805,948.50
36,952,648.91

GRAND TOTAL AWARDED

44,758,597.41

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