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Zimbabwe Dollar Drastically Falls At RBZ Foreign Currency Auction 17 May 2022

Zimbabwe Dollar Drastically Falls At RBZ Foreign Currency Auction 17 May 2022

The foreign exchange weighted average rate has fallen to US$1: ZWL$258.5404 from US$1: ZWL$173.2685 which was reported by the Reserve Bank of Zimbabwe (RBZ) on 3 May.

At this week’s forex auction conducted on 17 May, a total of US$6.8 down from the US$26.8 million that was allotted. The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.

1 068 bids were received on the Small to Medium enterprises forex auction, with 1 015 accepted and 53 disqualified. The total number of bids allotted was 135.

On the main forex auction, a total of 433 bids were received, 407 were accepted and 26 were disqualified. The total number of bids allotted was 50.

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.

SMEFX88/2022 MAINFX94/2022
Number of Bids Received : 1068 433
Number of Bids Disqualified : 53 26
Total Number of Bids Accepted : 1015 407
Total Number of Bids Allotted : 135 50
Total Value of Bids Accepted : USD8,998,155.54 USD42,053,973.50
Amount Allotted : USD1,240,118.58 USD5,604,709.04
Highest Rate Received : 300.0000 299.0000
Lowest Bid Rate Allotted : 220.0000 220.000
Weighted Average Rate : 258.5404
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 399,298.05 3,162,049.14
Machinery and Equipment 421,176.31 1,022,000.57
Consumables (Incl. Spares, Tyres, Electricals, etc) 152,356.57 199,557.09
Services (Loans, Education, Dividends, Disinvestments, etc) 118,337.19 303,837.41
Retail and Distribution (Incl. Food, Beverages, etc) 82,083.50 335,266.58
Electricity
Pharmaceuticals and Chemicals 66,866.96 50,000.00
Paper and Packaging 531,998.25
TOTAL 1,240,118.58 5,604,709.04
GRAND TOTAL AWARDED 6,844,827.62

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34 Comments

People Of Various Opinions 1 month ago

So these are the results of the measures announced by the president to strength the Zim dollar....wow..... no comment


Observer 1 month ago

When professor became finance minister bread was a measly $1 a loaf 🍞. Professor said he would "add-value"to the $. He has done a great job... bread 🍞 is now $345 a loaf and still going up. Zanupf must be proud of their minister who said he would resign if the Zim dollar failed which he failed to do.


Chimodho 1 month ago

Vote of no confidence for ED and his team.


Tkt 1 month ago

Well those who understand Dynamics of Economics will concur with me that this week's Auction was partially fair and points the right direction to a market determined exchange rate
This is how the RTGS stabilezed during that period of closer to a year when the local unit traded at 1:80-85
Back then the market did determine the rate upto a time when it began being fixed zvayanga yoitwa izvi
Soon the RTGS will firm again trust + vakomana vaya vachamboti cheme mbichana remember the last time

@vax my bro,
1 remember 2030 tonga tichipo
2 vp is in Indonesia kuona zvombo zveko that is not a joke bcoz we mist be ready for anything


Mmmm 1 month ago

Our dishonest professor of finance who said he would resign if the Zim dollar 💵 failed is having sleepless nights like zanupf 😂😂😂😭💲💲😞😭😭😭


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Chiurai 1 month ago

Hya thumbs up Geje Gedye. Yaakuuya kuMusika mutema. Taakukwereta soo from banks


Joni 1 month ago

ED wazvitadza izvi


SivhiruSevhenti 1 month ago

Unenge uchitozvifarira hako pay yobva yapinda


Bhangu 1 month ago

with this type of leadership its only going to get worse mark my words


ABSA 1 month ago

rimwe zidhara ndipo parinoti ZIMBABWE economy ranked Top in Africa


Jamie handbags 1 month ago

Anopenga uyu ,madrugs amukwadza

Bounty hunter 1 month ago

Ko usd riri pamari kana ndichitenga ku black market. Please help


Jamie handbags 1 month ago

500

MuPfungwe Chaiye 1 month ago

Njuga dzaremera comrade vakasvisvidika musoro waye.Mangudya. 🤣🤣🤣🤣🤣🤣 Huya uone ugodzokera


wasu 1 month ago

ndabvaa ndafunga song iyaa yekuti munyu hauchavaviii


Dr Hercules 1 month ago

Strongest currency in the region😂😂😂


Machiavelli 1 month ago

There goes the Strongest currency in the region
The Strongest economy in Africa

Dira hako rizare sahwira 🥂🍾


Vax 1 month ago

This z e end of foreign currency auction , next week 1,5million kkkk zvoremera kumusoro setsvimbo ,mark my words July 2023 haasvike mkuru ava vari panyanga


Chimboti Pizza 1 month ago

I think takambochinja minister nagovernor tinenge tagona


Ano 1 month ago

😂😂😂 kuchinja makumbo nekuti musoro hauchafungi

Mafirakureva 1 month ago

Zvinoda kutanga nekumusoro

Dr Hercules 1 month ago

Change everything including permanent secretaries

Gafa 1 month ago

Mangundya siyana nebond musoro kutooma haisi mari iyo mapaper


Tio4 1 month ago

Things fall apart. Maedza zvese zvaramba

youth 1 month ago

600


Jinn 1 month ago

What about the black rate


VA ELDER FIEND 1 month ago

ZANU PF i losers losers league.
Vote CCC @Nelson Chamisa for President 2023


Mafirakureva 1 month ago

Even Boozers' League haisvike apa

Asalif 1 month ago

they will soon catch up I think Mtuvi Ncube is now tired of this system he seems to be depressed now that even his wife barely know in bed


Asalif 1 month ago

🏃 🏃

black market rate auction system rate


Asalif 1 month ago

From source Zimbabwe is number one in inflation Olympics @ 217%

Tentin 1 month ago

@Asalif haa ka stancer kenyu kano ndipedza. Munenge matopedza ma sports.


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