RBZ Forex Auction: Zimbabwe Dollar Firms Against USD
The Zimbabwe dollar has stabilised against the US dollar, results from the Reserve Bank of Zimbabwe’s foreign exchange auction show.
According to the results from the Tuesday, 20 April 2021 RBZ forex auction, the weighted average this week rebounded from US$1: ZWL$84.4827 last week to US$1:ZWL$84.4826 this week.
Today US$3 900 835.28 was allocated to the Small to Medium Enterprises forex auction while US$30 207 699.94 was allocated to the main forex auction.
In total, US$34 108 535.22 was allotted this week, with the bulk of the allotment (US$13 289 237.40) going to raw materials followed by machinery and equipment (US$6 432 355.91).
310 bids were received on the Small to Medium enterprises forex auction, with 253 accepted and 57 disqualified.
On the main forex auction, a total of 332 bids were received, 267 were accepted while 65 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.
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 1,030,911.59 | 12,258,325.81 |
| Machinery and Equipment | 773,605,26 | 5,698,750.65 |
| Consumables (Incl. Spares, Tyres, Electricals, etc) | 733,886.14 | 2,726,391.14 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 304,363.14 | 2,241,848.94 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 277,714.13 | 2,786.171.86 |
| Fuel, Electricity and Gas | 215,992.65 | 2,186,334.60 |
| Pharmaceuticals and Chemicals | 409,657,02 | 1,518,160.80 |
| Paper and Packaging | 154,705.35 | 791,716.14 |
| TOTAL | 3,900,835.28 | 30,207,699.94 |
| GRAND TOTAL AWARDED | 34,108,535.22 |
