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*RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 04 October 2022*

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The Zimbabwe dollar has continued its downward spiral against the US dollar. According to the results of the official foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) today, 04 October 2022, the weighted average rate has fallen to US$1: ZWL$626.1893 621.5321

Last week, the foreign exchange weighted average rate was US$1: ZWL$621.5321.

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In an update seen by Pindula News, the central bank reported that a total of US$10,496,520.56 down from US$11,011,895.49was allotted to various sectors at this week’s RBZ foreign currency auction.

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

128 bids were received on the Small to Medium Enterprises Forex Auction, with 125 accepted and 3 disqualified. The total amount allotted was USD1,158,110.96 down from USD1,468,089.44 allotted last week.

On the Main Forex Auction, a total of 66 bids were received, 64 were accepted and 2 were disqualified. The total amount allotted was USD9,338,409.60 down from USD9,338,409.60 allotted last week.

SMEFX108/2022 AUCTION
MAIN FX114/2022

Number of Bids Received :
128
66

Number of Bids Disqualified :
3
2

Total Number of Bids Accepted :
125
64

Total Number of Bids Allotted :
124
64

Total Value of Bids Accepted :
USD1,164,576.17
USD9,338,409.60

Amount Allotted :
USD1,158,110.96
USD9,338,409.60

Highest Rate Received :
660.0000
655.0000

Lowest Bid Rate Allotted :
590.0000
590.0000

Weighted Average Rate :
626.1893

PURPOSE
AMOUNT ALLOTTED SME AUCTION
AMOUNT ALLOTTED MAIN AUCTION

Raw Materials
296,675.07
3,699,238.58

Machinery and Equipment
314,560.75
2,344,897.24

Consumables (Incl. Spares, Tyres, Electricals, etc)
159,732.70
360,939.60

Services (Loans, Education Dividends, Disinvestments, etc)
166,311.58
2,403,437.57

Retail and Distribution (Incl Food Beverages etc)
114,086.32
300,079.77

Electricity
–
–

Pharmaceuticals and Chemicals
47,371.06
229,816.84

Paper and Packaging
59,373.48
–

TOTAL
1,158,110.96
9,338,409.60

GRAND TOTAL AWARDED
10,496,520.56

*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.

3. Willing buyer Willing seller Bid Rate as of 30 September 2022 was ZW$596.2479

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