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Zim Dollar Breaches $300 Mark At RBZ Forex Auction

Zim Dollar Breaches $300 Mark At RBZ Forex Auction

The foreign exchange weighted average rate has fallen to US$1: ZWL$308.5201 from US$1: ZWL$290.8876 announced by the Reserve Bank of Zimbabwe (RBZ) last week.

At this week’s RBZ foreign currency auction conducted on Tuesday, 31 May 2022, a total of US$25.59 millionwas allotted.

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

782 bids were received on the Small to Medium enterprises forex auction, with 723 accepted and 59 disqualified. The total number of bids allotted was 613.

On the main forex auction, a total of 285 bids were received, 263 were accepted and 22 were disqualified. The total number of bids allotted was 235.

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.

Number of Bids Received

SMEFX89/2022

782

MAIN FX95/2022

285

Number of Bids Disqualified : 59 22
Total Number of Bids Accepted : 723 263
Total Number of Bids Allotted : 613 235
Total Value of Bids Accepted : USD5,135,841.87 USD23,947,063.37
Amount Allotted : USD4,425,590.12 USD21,165,154.67
Highest Rate Received : 340.0000 340.0000
Lowest Bid Rate Allotted : 290.0000 290.0000
Weighted Average Rate : 308.5201
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,074,866.64 11,077,620.25
Machinery and Equipment 1,678,233.12 3,597,642.53
Consumables (Incl. Spares, Tyres, Electricals, etc) 583,152.38 1,817,428.66
Services (Loans, Education, Dividends, Disinvestments, etc) 376,205.05 1,647,857.01
Retail and Distribution (Incl. Food, Beverages, etc) 388,571.00 1,439,602.03
Electricity 16,187.13 0
Pharmaceuticals and Chemicals 193,117.15 954,924.90
Paper and Packaging 115,257.65 630,079.29
TOTAL 4,425,590.12 21,165,154.67
GRAND TOTAL AWARDED 25,590,744.79

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40 Comments

999 1 month ago

💙 blue
anonakidza kukonzera hake violence paplatfom kkkkk.


Asalif 1 month ago

Thieves broke into Mtuli Ncube's car early this year and took away $26.000 USD why didn't he carry local currency on him because he knows they are worthless papers the FIU should investigate him where he got such huge amount of money


bgjjfyb 1 month ago

zvekungopana muma comp


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jigga 1 month ago

gedye gedye 1 is to 1 ne US Dollar!


Stallion 1 month ago

vanhu a fool will never know that he is a fool till the day he will witness.the actual development from those who he is castigating blue if you try to resist change that change will change you one day


Black🖤 1 month ago

If u say, we as Zanu we are failing come & join us totonga tose muchigadzirisa zvatisinga gone zvacho nekut moga vanhu veCcc hamufe makapinda. I support u 💙blue


Machiavelli 1 month ago

ZANU is intolerant of criticism, even from within. This is why it had to go through a coup to get rid of Mugabe.

Furthermore change doesn't exist in the vocabulary of ZANU. Barring deaths and cosmetic surgery the same people in top posts today were the same people in 1980.

The gains during the GNU period, the only period when progress was seen, was reversed immediately after ZANU restarted sole stewardship of Zimbabwe

Therefore joining hands with ZANU is a non starter

Tozivepiko 1 month ago

Monya pama Monya do you now realise that USA$ cannot be equal to toilet paper?


Zuze 1 month ago

Dhongi, nyangwe rine makumbo mana, harizombofe rakaira mombe.
Mari yenyu iyi isina zita haizombofe yakaenzana neYUWESI.

Unless madhongi amera nyanga

Zvagarazviriko 1 month ago

Musamuterereanozviti blue uyu aneiko iyeye Ari kuti swererawo chi plat form chemahara itawo zviri kuita vanhu muzanu pf kwete kudakuitiswa


freda 1 month ago

tsek

Zuze 1 month ago

Correction:- Kuhwinha nekubira basi ndizvo zvamunogona veZANU

Zuze 1 month ago

Kuhwina nekumira basi ndizvo munogona

Blue 💙 1 month ago

It's my job to campaign for Zanu on this platform. We are everywhere that's why we Win

Hoko 1 month ago

The devaluation of the ZWL$ is a positive for employers and business pple becoz it makes cost of labour, electricity etc very cheap. So those who make noise think a strong currency is a panancea to an economy recovery are lost. All in all we wish our country and pray for better fortunes. We cannot be devided by noisemaker who came from across the Border be it Zambia or Malawi. If things are tuff in Zim why dont follow your fellows. pasi nanasatani you deserve no respect at all.


Freda 1 month ago

@Hako musoro wako wakazara ma****

Machiavelli 1 month ago

@Hoko, only temporarily do those benefits last. Look at the mining sector. Only last week they were offered 208% wage and salary increases which they rejected.

This I'd why utilities such as electricity transport, fuel etc are going up in sympathy with depreciation.

Bread, which was ZW$1 in 1998 is now +/-ZW$600 whereas in US$ terms it has remained around $1 (at some stage it had gone down to US75c)

Blue 💙 1 month ago

Thank you very much 😊.

Cobra King. 1 month ago

@Blue. Everyone since 1980 supported ZANUPF. Vamwe takaisiya 1998. 1999 tikasimbisa Save vakaurawa hawozve. Tavekufambe neYellow mazuvano. Vana vetsuro vanosvinura pakasiyana bro. Your time to see the truth is coming.


Blue 💙 1 month ago

I believe in what the government is trying to do. It's a noble idea. Tosvika kupi dependent on another country's currency? Only sell outs believe in the US, you don't have faith in anything Zim. Tora 9passport ubude munyika iweee

Sekuru waBona 1 month ago

nhaiwe Blue hama dzako dzirikurarama life yakanaka here

uri murakashi hongu wopuwa tuma two cents wotenga hwahwa but chaunoita chipenyu hapana

mai vako dai vachiziva kuti ukushandiswa kudai vanorovera mazamu pasi

Blue 💙 1 month ago

The only truth I know is Zanu PF. Inflation is being dealt with. I can't support a party like CCC whose only monetary policy is using a currency that is not ours. Let's support independence, having our own currency 💵. This inflation thing is minor. I don't support puppets. Sell outs,noo.

Tio4 1 month ago

The wheels have gone off. Nomatter how we might try the economy cannot be rigged. It is evident for all to see these guys have dismally failed. The defination of failure is RBZ and Ministry of Finance.


Jah🇿🇼Tsvarie-07 1 month ago

Jus say plastic money is equivalent to US$ finish and clarie...


Asalif 1 month ago

you have got brains my man that is the only solution

Chawabvunza 1 month ago

These guys have tried all tricks in economics, but they have failed. What is their next move when they have exhausted all procedures ? They tried to force all combis to join ZUPCO. They forced all companies not to borrow. They alleged that there were subotuers. They tried to arrest the suboteurs. They failed to arrest even one suboteur. They must just admit that they are a complete failures and let others come in.

NYIKA INOURAIWA NE MBAVHA DZAYO.

NGAAPINDE HAKE CHAMISA [NHC].

[ VOTE CCC FOR REAL CHANGE ].


Sekuru waBona 1 month ago

you know what's surprising is that the govt is advocating for Zim dollar use yet watch vp uyo gave funeral assistance in US dollar to that Chief who passed on

it beats common sense they say this and do otherwise

walk the talk

the general public is supposed to do as they yet the same people are breaking the same rules day n nite zvorevei

being patriotic doesn't mean subscribing to irresponsible policies

it takes a mature person to admit failure and seek help

each and every day there are excuses
sanctions
regime change
unpatriotic

so if the opposition is sabotaging the economy why can't the ruling party then do the good since they are in govt?

kana opposition ichikwanisa kugadzika economy pasi saka zvoreva opposition is more powerful than the so called ruling party

the naked truth is corruption simple

today jail 5 well connected elites and u will see black market inodzika fast

just five start with delish, obert mpofu, tagwirei, nick mangwana, chinamasa and mutsvangwaz uwone kuti Zim dollar harisimuke here

p****


Machiavelli 1 month ago

Bravo @Sekuru vaBona. I salute you. I concur with your thoughts. 👏🏾👏🏾👏🏾

Sekuru waBona 1 month ago

unorwara iwe situation on the ground ikutiii

tiudzeka

Financial Intelligence Unit 1 month ago

You are obviously driven by emotions.You have no idea whats happening in the financial markets saka kunyarara maybe a good idea.

Gafa 1 month ago

Shiri inongozofa Mangundya nharo idzo dzine guva mberi.you cant support Z dollar at a rally


Dirigsme 1 month ago

We are a few hours from June. The bullish Tendayi Biti accurately predicted that come June the $ will be @ 1:500 on the grey market. And as sure as the sun rises from the East by December we will be trading at 1:1000. By that time Musuli Ncube will be VP if he does not succumb to BP. George Charamba watch the press for details.Unoramba hako asi uchabvuma.


Freda 1 month ago

tsek

Dr XXX 1 month ago

There is a difference between patriotism and s. t. u. p. i. d. i. t. y Blue. You are not patriotic you are s. t. u. p. i. d

Blue 💙 1 month ago

Vanhu mughadzikama henyu. No matter how much you sabotage it, the Zim dollar is going nowhere brother. You'll continue getting 9paid in it kusvikira madzidza kuti chii chinonzi being patriotic

Sekuru waBona 1 month ago

ko Asalif asi akazosungirwa nyaya yake iya?

inga zvakaoma mhosva hairovi


Machiavelli 1 month ago

@Blue I am my own master. I am not a puppet.
Since 1998 I have NOT been an employee. Pity that most of my clients either went under or migrated out of Zimbabwe since the collapse of the economy from early 2000 onwards.

So don't tell me Tosh

Blue 💙 1 month ago

Hoo nhai, cyberbulling only exist kana ari munhu we CCC nhai? I'm being bullied every hour nokuti I'm Zanu@Machii I see biasness typical of your puppet masters

Machiavelli 1 month ago

Cyber bullies were active on Sunday targeting Asalif and Machiavelli. Both of us chilled out for a while until the guys in Dark Glasses from Red Bricks cleared out.

dira rizare sahwira
rizare kuti fashu fashu 🥂🍾🍺🍺🍺

Munhu 1 month ago

Black market breached the 500 mark, handei tione



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