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*RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 20 September 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, 20 September 2022, the weighted average rate has fallen to US$1: ZWL$613.3681.

Last week, the foreign exchange weighted average rate was US$1: ZWL$604.2580.

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In an update seen by Pindula News, the central bank reported that a total of US$13.66 millionwas 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.

245 bids were received on the Small to Medium Enterprises Forex Auction, with 230 accepted and 15 disqualified. The total amount allotted was USD2,099,695.45 down from the USD2,196,092.29 allotted last week.

On the Main Forex Auction, a total of 103 bids were received, 100 were accepted and 3 were disqualified. The total amount allotted was USD11,562,566.29 down from USD13,429,628.61 allotted last week.

*SME FX105/2022*

Number of Bids Received

*MAIN FX111/2022*

245

Number of Bids Disqualified :
15

Total Number of Bids Accepted :
230

Total Number of Bids Allotted :
229

Total Value of Bids Accepted :
USD2,109,508.47

Amount Allotted :
USD2,099,695.45

Highest Rate Received :
655.0000

Lowest Bid Rate Allotted :
570.0000

Weighted Average Rate :
613.3681

PURPOSE
AMOUNT ALLOTTED SME AUCTION
AMOUNT ALLOTTED MAIN AUCTION

Raw Materials
544,543.20
5,481,712.32

Machinery and Equipment
664,958.47
2,897,448.71

Consumables (Incl. Spares, Tyres, Electricals, etc)
286,454.89
781,648.34

Services (Loans, Education, Dividends, Disinvestments, etc)
288,805.86
1,095,578.45

Retail and Distribution (Incl. Food, Beverages, etc)
163,244.46
766,563.72

Electricity
51,255.00

Pharmaceuticals and Chemicals
92,325.75
353,813.31

Paper and Packaging
59,362.82
134,546.44

TOTAL
2,099,695.45
11,562,566.29

GRAND TOTAL AWARDED
13,662,261.74

*Notes*

> 1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZW$ 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 9 September 2022 was ZW$568.1885.

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