Foreign Exchange Auction System

Zimbabwe conducted its first foreign currency auction in years to boost transparency and efficiency in the forex market on 23 June 2020. The Reserve Bank of Zimbabwe (RBZ) had announced that it will discard the 1:25 fixed interbank exchange rate system, which had been in place since February 2020.

The central bank said that the auction system, to be held every Tuesday, was designed to give fair value of the local currency in relation to the U.S. dollar. At the auction system, the Zimbabwe dollar debuted at 57 against 1 U.S. dollar. The new official exchange rate, however, remains below the parallel market rate which is running at between 80 and 95 per U.S. dollar depending on the method of payment.

Results of the auction conducted by the RBZ showed that the highest rate to the greenback on offer was 100 Zimbabwe dollars while the lowest was 25.5 Zimbabwe dollars. Those who want to buy hard currency through the auction system would be expected to present one bid per auction ranging from 50,000 U.S. dollars to 500,000 U.S. dollars.^[2]

Funding of the Foreign Exchange Auction System

The foreign Exchange Auction System is funded from:

• Offshore facilities arranged by the Reserve Bank of Zimbabwe
• Foreign currency availed through surrender requirements, which are liquidated at the prevailing market rate, and export proceeds liquidations upon expiry of the 30-day retention period; and
• Foreign currency exchanged by exporters and free funds holders through the banking system at the prevailing market rate.^[3]

How the System Works

An exchange auction is any regime where the allocation of a given amount of foreign exchange is determined through a bidding process.

Typically, a country moves initially from a fixed rate regime with administrative controls to a transitional multiple rate system, with one lower fixed-rate market and one floating rate market. The unified auction regime can be modified as well to confer special treatment on certain categories of transactions, such as petroleum imports and public sector expenditures.

Exchange Rate Determination

Pricing

There are two basic systems for determining the exchange rate in a foreign exchange auction using sealed bids.

• Under marginal pricing, the clearing rate, or the highest rate at which the bids fully exhaust the offered foreign exchange, is paid by all successful bidders who receive foreign exchange.
• Under the Dutch auction, each successful bidder is charged what he or she bid. Under both systems, all purchases of foreign exchange up until the next auction are made at the marginal rate.

How the Dutch Auction System Work

During the auction each and every one of these companies taking part in the auction, potential buyers, enter their bids for the amount of foreign currency they want to purchase as well as the rate they are willing to pay. During the first auction on 23 June 2020 the rates started at $25.50 ZWL and went up to $100.00 ZWL. So, for example, Delta Corporation might send in a bid that says they want $100 000 and are willing to pay a rate of $100.00 for it.

Once all the bids are submitted, the allotted amount($10 million in this case) is then assigned to the bidders from the highest bids down, until all of the whole allotted batch of foreign currency is assigned. The Dutch Auction starts from the highest bid downwards. The final rate that each buyer pays really depends on the exact nature of the auction but in this case, it seems those who bid the highest amount got the foreign currency they asked for, then the next highest batch and so on.

So for example the auction starts at $100.00:

• Several companies feel this is acceptable and gobble up $2 000 000 US in foreign currency
• The system then reduces the rate to $80 and several companies gobble that up at the trough until they have had their fill and there is $5 000 000 left
• The rate is reduced to $60 ZWL and so on and each time the rate is reduced more and more of the foreign currency is taken up
• Until maybe there is $1000 left which is finally gobbled up at $25.50 ZWL

This is all hypothetical in terms of the amount but that is the gist of a Dutch Auction.

The stupidity of averages

From here a weighted average (mean) is then calculated and the RBZ got a rate of $57.36 ZWL as to 1 USD on 23 June 2020. The reality however is that different companies probably paid a different rate which can be far higher or far lower than this average rate. From the data provided bids ranged from $25.50 to $100.00. That is a massive gulf that is smoothed over by the average of $57.36. It means it’s possible one company paid an official rate that is $44 ZWL higher than the average. It is also possible another company paid as much as $36 below the average rate.

Anyone who has taken a basic statistics course will tell you why averages, especially means are stupid:

• They hide extremes, in this case, $25.50 versus $100.00 are all hidden in a neat figure of $57.36
• Often what you are not getting is not typical data with means you get things like 3.5 people. In this case, it’s doubtful anyone paid $57.36 for their forex. It would be surprising if anyone paid this exact rate.

That makes the rate useful but meaningless

The rate is useful as an indicator of foreign currency demand in the country and so on but do not expect companies to use it. It is not their cost of doing business and therefore it would be ridiculous to use it as such. Businesses, by convention only consider the real costs they have incurred otherwise their records become a work of fiction.^[4]

Auction Bids, Allotment and Average Rate

29 March 2022

The Zimbabwean dollar fell to ZWL$142.4237 against the US dollar from last year's final trading week of ZWL$138.1979 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their eighty-first and eighty-seventh trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 548 579.22 down from US$6 625 160.56 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$155.00 up from US$1:ZWL$150.00 in the previous week and the lowest allotted rate was US$1:ZWL134.00 up from US$1:ZWL$131.00 in the previous trading week, while a total of US$31 062 799.46 up from US$30 182 270.46 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$155.00 up from US$1:ZWL$150.00 in the previous trading week and a lowest allotted rate of ZWL$138.00 up from ZWL$134.00 last week.

• The number of bids for SMEs increased and for the Main exchange were down compared to the previous week's trading. Last trading week there were 1 102 and 450 bids respectively with those disqualified standing at 91 and 37 respectively, and this week the bids stood at 1 159 and 449 respectively with those disqualified standing at 74 and 36 respectively.
• 1 085 bids worth US$6 552 957.64 were accepted but only 1 080 bids were allotted US$6 548 579.22 in the SMEs Auction.
• 413 bids worth US$31 907 210.04 were accepted but only 399 bids were allotted US$31 062 799.46 in the Main Auction.

22 March 2022

The Zimbabwean dollar fell to ZWL$138.1979 against the US dollar from last year's final trading week of ZWL$134.0820 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their eightieth and eighty-sixth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 625 160.56 up from US$5 744 362.37 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$150.00 up from US$1:ZWL$145.00 in the previous week and the lowest allotted rate was US$1:ZWL131.00 up from US$1:ZWL$127.00 in the previous trading week, while a total of US$30 182 270.46 down from US$30 862 194.32 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$150.00 up from US$1:ZWL$148.00 in the previous trading week and a lowest allotted rate of ZWL$134.00 up from ZWL$130.00 last week.

• The number of bids for SMEs increased and for the Main exchange were up as well compared to the previous week's trading. Last trading week there were 1 177 and 478 bids respectively with those disqualified standing at 72 and 36 respectively, and this week the bids stood at 1 102 and 450 respectively with those disqualified standing at 91 and 37 respectively.
• 1 011 bids worth US$6 726 743.14 were accepted but only 977 bids were allotted US$6 625 160.56 in the SMEs Auction.
• 413 bids worth US$31 001 078.43 were accepted but only 399 bids were allotted US$30 182 270.46 in the Main Auction.

15 March 2022

The Zimbabwean dollar fell to ZWL$134.0820 against the US dollar from last year's final trading week of ZWL$130.1567 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-ninth and eighty-fifth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$5 744 362.37 down from US$7 209 867.35 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$145.00 same as in the previous week and the lowest allotted rate was US$1:ZWL127.00 up from US$1:ZWL$125.58 in the previous trading week, while a total of US$30 862 194.32 up from US$28 632 570.60 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$148.00 up from US$1:ZWL$145.00 in the previous trading week and a lowest allotted rate of ZWL$130.00 up from ZWL$127.00 last week.

• The number of bids for SMEs increased and for the Main exchange were up as well compared to the previous week's trading. Last trading week there were 936 and 410 bids respectively with those disqualified standing at 71 and 33 respectively, and this week the bids stood at 1 177 and 478 respectively with those disqualified standing at 72 and 36 respectively.
• 1 105 bids were allotted US$5 744 362.37 in the SMEs Auction.
• 442 bids worth US$31 089 467.92 were accepted but only 433 bids were allotted US$30 862 194.32 in the Main Auction.

8 March 2022

The Zimbabwean dollar fell to ZWL$130.1567 against the US dollar from last year's final trading week of ZWL$127.4864 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-eighth and eighty-fourth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$7 209 867.35 up from US$6 097 585.39 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$145.00 up from US$1:ZWL$137.00 in the previous week and the lowest allotted rate was US$1:ZWL125.58 up from US$1:ZWL$120.00 in the previous trading week, while a total of US$28 632 570.60 down from US$31 158 622.32 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$145.00 up from US$1:ZWL$140.00 in the previous trading week and a lowest allotted rate of ZWL$127.00 up from ZWL$121.00 last week.

• The number of bids for SMEs decreased and for the Main exchange were down as well compared to the previous week's trading. Last trading week there were 970 and 521 bids respectively with those disqualified standing at 71 and 50 respectively, and this week the bids stood at 936 and 410 respectively with those disqualified standing at 71 and 33 respectively.
• 865 bids worth US$7 611 522.31 were accepted but only 778 bids were allotted US$7 209 867.35 in the SMEs Auction.
• 377 bids worth US$29 565 084.19 were accepted but only 355 bids were allotted US$28 632 570.60 in the Main Auction.

1 March 2022

The Zimbabwean dollar fell to ZWL$127.4864 against the US dollar from last year's final trading week of ZWL$124.0189 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-seventh and eighty-third trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 097 585.39 down from US$7 214 768.53 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$137.00 same as in the previous week and the lowest allotted rate was US$1:ZWL120.00 same as in the previous trading week, while a total of US$31 158 622.32 up from US$29 581 020.42 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$140.00 same as in the previous trading week and a lowest allotted rate of ZWL$121.00 down from ZWL$122.00 last week.

• The number of bids for SMEs increased and for the Main exchange were down compared to the previous week's trading. Last trading week there were 936 and 538 bids respectively with those disqualified standing at 97 and 53 respectively, and this week the bids stood at 970 and 521 respectively with those disqualified standing at 71 and 50 respectively.
• 899 bids were allotted US$6 097 585.39 in the SMEs Auction.
• 471 bids were allotted US$31 158 622.32 in the Main Auction.

22 February 2022

The Zimbabwean dollar fell to ZWL$124.0189 against the US dollar from last year's final trading week of ZWL$120.5174 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-sixth and eighty-second trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$7 214 768.53 down from US$7 616 125.91 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$137.00 up from US$1:ZWL$135.00 in the previous week and the lowest allotted rate was US$1:ZWL120.00 up from US$1:ZWL$115.00 in the previous trading week, while a total of US$29 581 020.42 down from US$29 588 776.75 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$140.00 up from ZWL$135.00 in the previous trading week and a lowest allotted rate of ZWL$122.00 up from ZWL$119.00 last week.

• The number of bids for SMEs decreased and for the Main exchange were down as well compared to the previous week's trading. Last trading week there were 943 and 546 bids respectively with those disqualified standing at 99 and 78 respectively, and this week the bids stood at 936 and 538 respectively with those disqualified standing at 97 and 53 respectively.
• 839 bids worth US$7 711 548.81 were accepted but only 776 bids were allotted US$7 214 768.53 in the SMEs Auction.
• 485 bids worth US$36 033 474.97 were accepted but only 394 bids were allotted US$29 581 020.42 in the Main Auction.

15 February 2022

The Zimbabwean dollar fell to ZWL$120.5174 against the US dollar from last year's final trading week of ZWL$118.8748 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-fifth and eighty-first trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$7 616 125.91 up from US$6 961 341.90 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$135.00 same as in the previous week and the lowest allotted rate was US$1:ZWL115.00 same as in the previous trading week, while a total of US$29 588 776.75 down from US$30 198 858.89 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$135.00 up from ZWL$130.00 in the previous trading week and a lowest allotted rate of ZWL$119.00 up from ZWL$116.00 last week.

• The number of bids for SMEs increased and for the Main exchange were up as well compared to the previous week's trading. Last trading week there were 898 and 536 bids respectively with those disqualified standing at 100 and 85 respectively, and this week the bids stood at 943 and 546 respectively with those disqualified standing at 99 and 78 respectively.
• 844 bids were allotted US$7 616 125.91 in the SMEs Auction.
• 468 bids worth US$32 773 390.85 were accepted but only 420 bids were allotted US$29 588 776.75 in the Main Auction.

8 February 2022

The Zimbabwean dollar fell to ZWL$118.8748 against the US dollar from last year's final trading week of ZWL$116.6500 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-fourth and eightieth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 961 341.90 up from US$6 773 484.47 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$135.00 up from US$1:ZWL$130.00 in the previous week and the lowest allotted rate was US$1:ZWL115.00 up from ZWL$107.00 in the previous trading week, while a total of US$30 198 858.89 down from US$30 775 095.86 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$130.00 down from ZWL$132.50 in the previous trading week and a lowest allotted rate of ZWL$116.00 up from ZWL$112.82 last week.

• The number of bids for SMEs decreased and for the Main exchange were down as well compared to the previous week's trading. Last trading week there were 901 and 546 bids respectively with those disqualified standing at 118 and 86 respectively, and this week the bids stood at 898 and 536 respectively with those disqualified standing at 100 and 85 respectively.
• 798 bids worth US$7 633 061.96 were accepted but only 723 bids were allotted US$6 961 341.90 in the SMEs Auction.
• 451 bids worth US$32 792 172.96 were accepted but only 410 bids were allotted US$30 198 858.89 in the Main Auction.

1 February 2022

The Zimbabwean dollar fell to ZWL$116.6500 against the US dollar from last year's final trading week of ZWL$115.4223 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-third and seventy-ninth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 773 484.47 up from US$6 153 778.39 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$130.00 same as in the previous week and the lowest allotted rate was US$1:ZWL107.00 up from ZWL$106.00 in the previous trading week, while a total of US$30 775 095.86 down from US$32 621 993.68 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$132.50 up from ZWL$130.00 in the previous trading week and a lowest allotted rate of ZWL$112.82 up from ZWL$107.00 last week.

• The number of bids for SMEs decreased and for the Main exchange were up compared to the previous week's trading. Last trading week there were 906 and 537 bids respectively with those disqualified standing at 209 and 115 respectively, and this week the bids stood at 901 and 546 respectively with those disqualified standing at 118 and 86 respectively.
• 783 bids were allotted US$6 773 484.47 in the SMEs Auction.
• 460 bids worth US$32 275 838.86 were accepted but only 437 bids were allotted US$30 775 095.86 in the Main Auction.

25 January 2022

The Zimbabwean dollar fell to ZWL$115.4223 against the US dollar from last year's final trading week of ZWL$112.8228 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-second and seventy-eighth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 153 778.39 up from US$5 186 494.80 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$130.00 up from ZWL$125.00 in the previous week and the lowest allotted rate was US$1:ZWL106.00 up from ZWL$100.00 in the previous trading week, while a total of US$32 621 993.68 up from US$25 679 781.10 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$130.00 up from ZWL$126.00 in the previous trading week and a lowest allotted rate of ZWL$107.00 up from ZWL$104.00 last week.

• The number of bids for SMEs increased and for the Main exchange were up as well compared to the previous week's trading. Last trading week there were 633 and 448 bids respectively with those disqualified standing at 141 and 128 respectively, and this week the bids stood at 906 and 537 respectively with those disqualified standing at 209 and 115 respectively.
• 697 bids were allotted US$6 153 778.39 in the SMEs Auction.
• 422 bids were allotted US$32 621 993.68 in the Main Auction.

18 January 2022

The Zimbabwean dollar fell to ZWL$112.8228 against the US dollar from last year's final trading week of ZWL$108.6660 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventy-first and seventy-seventh trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$5 186 494.80 down from US$6 675 670.74 the previous trading week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$125.00 down from ZWL$126.00 in last year's final trading week and the lowest allotted rate was US$1:ZWL100.00 down from ZWL$102.00 in the previous trading week, while a total of US$25 679 781.10 down from US$35 102 236.84 in the previous trading week was allotted on the main exchange market at the highest rate of ZWL$126.00 up from ZWL$125.00 in the previous trading week and a lowest allotted rate of ZWL$104.00 up from ZWL$102.00 last week.

• The number of bids for SMEs decreased and for the Main exchange were down as well compared to the previous week's trading. Last trading week there were 758 and 526 bids respectively with those disqualified standing at 125 and 114 respectively, and this week the bids stood at 633 and 448 respectively with those disqualified standing at 141 and 128 respectively.
• 492 bids were allotted US$5 186 494.80 out of accepted bids amounting to US$5 186 494.80 in the SMEs Auction.
• 320 bids were allotted US$25 679 781.10 out of accepted bids amounting to US$25 679 781.10 in the Main Auction.

14 December 2021

The Zimbabwean dollar gained slightly to ZWL$108.6660 against the US dollar from last weeks trading of ZWL$108.6678 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventieth and seventy-sixth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 675 670.74 up from US$6 147 829.66 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$126.00 up from ZWL$125.00 last week and the lowest allotted rate was US$1:ZWL102.00 up from ZWL$100.00 in the previous week, while a total of US$35 102 236.84 up from US$34 672 497.78 the previous week was allotted on the main exchange market at the highest rate of ZWL$125.00 same as in the previous week and a lowest allotted rate of ZWL$102.00 up from ZWL$100.00 last week.

• The number of bids for SMEs decreased and for the Main exchange were up compared to the previous week's trading. Last week there were 770 and 521 bids respectively with those disqualified standing at 210 and 117 respectively, and this week the bids stood at 758 and 526 respectively with those disqualified standing at 125 and 114 respectively.
• 633 bids were allotted US$6 675 670.74 out of accepted bids amounting to US$6 675 670.74 in the SMEs Auction.
• 412 bids were allotted US$35 102 236.84 out of accepted bids amounting to US$35 102 236.84 in the Main Auction.

7 December 2021

The Zimbabwean dollar fell to ZWL$108.6678 against the US dollar from last weeks trading of ZWL$105.6896 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-ninth and seventy-fifth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 147 829.66 down from US$6 466 518.27 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$125.00 same as last week and the lowest allotted rate was US$1:ZWL100.00 same as in the previous week, while a total of US$34 672 497.78 up from US$32 681 877.66 the previous week was allotted on the main exchange market at the highest rate of ZWL$125.00 up from ZWL$120.00 in the previous week and a lowest allotted rate of ZWL$100.00 same as last week.

• The number of bids for SMEs decreased and for the Main exchange were down as well compared to the previous week's trading. Last week there were 923 and 604 bids respectively with those disqualified standing at 311 and 236 respectively, and this week the bids stood at 770 and 521 respectively with those disqualified standing at 210 and 117 respectively.
• 560 bids were allotted US$6 147 829.66 out of accepted bids amounting to US$6 147 829.66 in the SMEs Auction.
• 404 bids were allotted US$34 672 497.78 out of accepted bids amounting to US$34 672 497.78 in the Main Auction.

30 November 2021

The Zimbabwean dollar fell to ZWL$105.6896 against the US dollar from last weeks trading of ZWL$105.6684 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-eighth and seventy-fourth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 466 518.27 up from US$6 126 934.27 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$125.00 up from ZWL$122.00 last week and the lowest allotted rate was US$1:ZWL100.00 up from ZWL$97.00 in the previous week, while a total of US$32 681 877.66 down from US$35 823 599.17 the previous week was allotted on the main exchange market at the highest rate of ZWL$120.00 same as in the previous week and a lowest allotted rate of ZWL$100.00 up from ZWL$99.93 last week.

• The number of bids for SMEs increased and for the Main exchange were down compared to the previous week's trading. Last week there were 913 and 653 bids respectively with those disqualified standing at 312 and 274 respectively, and this week the bids stood at 923 and 604 respectively with those disqualified standing at 311 and 236 respectively.
• 612 bids were allotted US$6 466 518.27 out of accepted bids amounting to US$6 466 518.27 in the SMEs Auction.
• 368 bids were allotted US$32 681 877.66 out of accepted bids amounting to US$32 681 877.66 in the Main Auction.

23 November 2021

The Zimbabwean dollar gained slightly to ZWL$105.6684 against the US dollar from last weeks trading of ZWL$105.6965 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-seventh and seventy-third trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 126 934.27 up from US$5 520 482.32 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$122.00 up from ZWL$120.00 last week and the lowest allotted rate was US$1:ZWL97.00 down from ZWL$98.00 in the previous week, while a total of US$35 823 599.17 down from US$36 228 651.92 the previous week was allotted on the main exchange market at the highest rate of ZWL$120.00 same as in the previous week and a lowest allotted rate of ZWL$99.93 up from ZWL$99.00 last week.

• The number of bids for SMEs increased and for the Main exchange were also up compared to the previous week's trading. Last week there were 881 and 623 bids respectively with those disqualified standing at 188 and 203 respectively, and this week the bids stood at 913 and 653 respectively with those disqualified standing at 312 and 274 respectively.
• 601 bids were allotted US$6 126 934.27 out of accepted bids amounting to US$6 126 934.27 in the SMEs Auction.
• 379 bids were allotted US$35 823 599.17 out of accepted bids amounting to US$35 823 599.17 in the Main Auction.

16 November 2021

The Zimbabwean dollar fell to ZWL$105.6965 against the US dollar from last weeks trading of ZWL$99.9301 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-sixth and seventy-second trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$5 520 482.32 down from US$11 081 207.54 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$120.00 up from ZWL$115.00 last week and the lowest allotted rate was US$1:ZWL98.00 up from ZWL$96.00 in the previous week, while a total of US$36 228 651.92 up from US$35 792 885.54 the previous week was allotted on the main exchange market at the highest rate of ZWL$120.00 down from ZWL$115.00 in the previous week and a lowest allotted rate of ZWL$99.00 up from ZWL$97.14 last week.

• The number of bids for SMEs decreased and for the Main exchange were also down compared to the previous week's trading. Last week there were 1283 and 732 bids respectively with those disqualified standing at 45 and 101 respectively, and this week the bids stood at 881 and 623 respectively with those disqualified standing at 188 and 203 respectively.
• 693 bids were allotted US$5 520 428.32 out of accepted bids amounting to US$5 520 428.32 in the SMEs Auction.
• 420 bids were allotted US$36 228 651.92 out of accepted bids amounting to US$36 228 651.92 in the Main Auction.

Changes in submission of bids

The RBZ announced changes to the submission of bids on 9 November 2022, where all bids for foreign exchange would be submitted through bidders' respective bankers at least four (4) business days before the date of the auction. The bankers in turn would submit the bids to the RBZ, the auction administrator, at least three (3) business days before the date of auction. The changes were necessitated by the significant increase in the number of bids being submitted that averaged 2000 per wee, and thus the change in bid submission timelines would give banks ample time to carry out the necessary due diligence processes and assess their customers' bids. Any bid submitted later than the set time frame shall be disqualified.

9 November 2021

The Zimbabwean dollar fell to ZWL$99.9301 against the US dollar from last weeks trading of ZWL$98.9821 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-fifth and seventy-first trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$11 081 207.54 up from US$10 182 138.13 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$115.00 down from ZWL$120.00 last week and the lowest allotted rate was US$1:ZWL96.00 up from ZWL$95.00 in the previous week, while a total of US$35 792 885.54 down from US$36 205 839.71 the previous week was allotted on the main exchange market at the highest rate of ZWL$115.00 down from ZWL$120.00 in the previous week and a lowest allotted rate of ZWL$97.14 up from ZWL$95.00 last week.

• The number of bids for SMEs decreased and for the Main exchange were up compared to the previous week's trading. Last week there were 1334 and 659 bids respectively with those disqualified standing at 67 and 51 respectively, and this week the bids stood at 1283 and 732 respectively with those disqualified standing at 45 and 101 respectively.
• 1238 bids were allotted US$11 081 207.54 out of accepted bids amounting to US$11 081 207.54 in the SMEs Auction.
• 631 bids were allotted US$35 792 885.54 out of accepted bids amounting to US$41 737 520.60 in the Main Auction.

2 November 2021

The Zimbabwean dollar fell to ZWL$98.9821 against the US dollar from last weeks trading of ZWL$97.1361 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-fourth and seventieth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$10 182 138.13 up from US$9 047 262.59 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$120.00 up from ZWL$110.00 last week and the lowest allotted rate was US$1:ZWL95.00 same as in the previous week, while a total of US$36 205 839.71 up from US$31 710 331.10 the previous week was allotted on the main exchange market at the highest rate of ZWL$120.00 up from ZWL$115.00 in the previous week and a lowest allotted rate of ZWL$95.00 same as last week.

• The number of bids for SMEs decreased and for the Main exchange were up compared to the previous week's trading. Last week there were 1336 and 598 bids respectively with those disqualified standing at 54 and 30 respectively, and this week the bids stood at 1334 and 659 respectively with those disqualified standing at 67 and 51 respectively.
• 1253 bids were allotted US$10 182 138.13 out of the 1267 accepted bids amounting to US$10 192 606.45 in the SMEs Auction.
• 605 bids were allotted US$36 205 839.71 out of the 608 accepted bids amounting to US$36 223 877.51 in the Main Auction.

26 October 2021

The Zimbabwean dollar fell to ZWL$97.1361 against the US dollar from last weeks trading of ZWL$93.0810 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-third and sixty-ninth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$9 047 262.59 down from US$11 017 388.12 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$110.00 up from ZWL$105.00 last week and the lowest allotted rate was US$1:ZWL95.00 up from ZWL$90.00 in the previous week, while a total of US$31 710 331.10 down from US$36 688 161.11 the previous week was allotted on the main exchange market at the highest rate of ZWL$115.00 up from ZWL$102.00 in the previous week and a lowest allotted rate of ZWL$95.00 up from ZWL$90.00 last week.

• The number of bids for SMEs decreased and for the Main exchange were up compared to the previous week's trading. Last week there were 1369 and 559 bids respectively with those disqualified standing at 71 and 39 respectively, and this week the bids stood at 1336 and 598 respectively with those disqualified standing at 54 and 30 respectively.
• 881 bids were allotted US$9 047 262.59 out of the 1282 accepted bids amounting to US$11 327 283.03 in the SMEs Auction.
• 402 bids were allotted US$31 710 331.10 out of the 568 accepted bids amounting to US$39 942 897.13 in the Main Auction.

19 October 2021

The Zimbabwean dollar fell to ZWL$93.0810 against the US dollar from last weeks trading of ZWL$90.0792 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-second and sixty-eighth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$11 017 388.12 up from US$7 978 938.75 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$105.00 up from ZWL$100.00 last week and the lowest allotted rate was US$1:ZWL90.00 up from ZWL$88.50 in the previous week, while a total of US$36 688 161.11 up from US$28 395 244.38 the previous week was allotted on the main exchange market at the highest rate of ZWL$102.00 up from ZWL$95.16 in the previous week and a lowest allotted rate of ZWL$90.00 up from ZWL$88.50 last week.

• The number of bids for SMEs increased significantly and for the Main exchange were up as well compared to the previous week's trading. Last week there were 1256 and 519 bids respectively with those disqualified standing at 60 and 31 respectively, and this week the bids stood at 1369 and 559 respectively with those disqualified standing at 71 and 39 respectively.
• 1243 bids were allotted US$11 017 388.12 out of the 1298 accepted bids amounting to US$11 188 380.30 in the SMEs Auction.
• 502 bids were allotted US$36 688 161.11 out of the 520 accepted bids amounting to US$37 373 661.57 in the Main Auction.

12 October 2021

The Zimbabwean dollar fell to ZWL$90.0792 against the US dollar from last weeks trading of ZWL$88.5532 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixty-first and sixty-seventh trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$7 978 938.75 down from US$10 695 839.38 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$100.00 up from ZWL$98.00 last week and the lowest allotted rate was US$1:ZWL88.50 up from ZWL$85.00 in the previous week, while a total of US$28 395 244.38 down from US$35 798 776.22 the previous week was allotted on the main exchange market at the highest rate of ZWL$95.16 down from ZWL$96.00 in the previous week and a lowest allotted rate of ZWL$88.50 up from ZWL$85.00 last week.

• The number of bids for SMEs went up and for the Main exchange went up as well compared to the previous week's trading. Last week there were 1217 and 466 bids respectively with those disqualified standing at 53 and 22 respectively, and this week the bids stood at 1256 and 519 respectively with those disqualified standing at 60 and 31 respectively.
• All of the 1196 accepted bids amounting to US$9 365 574.40 were only allotted US$7 978 938.75 in the SMEs Auction.
• All of the 488 accepted bids amounting to US$32 826 554.76 were only allotted US$28 395 244.38 in the Main Auction.

5 October 2021

The Zimbabwean dollar fell to ZWL$88.5532 against the US dollar from last weeks trading of ZWL$87.6653 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixtieth and sixty-sixth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$10 695 839.38 up from US$9 377 226.27 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$98.00 up from ZWL$97.20 last week and the lowest allotted rate was US$1:ZWL85.00 same as in the previous week, while a total of US$35 798 776.22 up from US$31 709 267.96 the previous week was allotted on the main exchange market at the highest rate of ZWL$96.00 up from ZWL$95.00 in the previous week and a lowest allotted rate of ZWL$85.00 same as last week.

• The number of bids for SMEs went down and for the Main exchange went up compared to the previous week's trading. Last week there were 1236 and 450 bids respectively with those disqualified standing at 56 and 22 respectively, and this week the bids stood at 1217 and 466 respectively with those disqualified standing at 53 and 22 respectively.
• All of the 1164 accepted bids amounting to US$10 695 839.38 were allotted funds in the SMEs Auction.
• All of the 444 accepted bids amounting to US$35 798 776.22 were allotted funds in the Main Auction.

28 September 2021

The Zimbabwean dollar fell to ZWL$87.6653 against the US dollar from last weeks trading of ZWL$86.9267 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-ninth and sixty-fifth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$9 377 226.27 down from US$9 779 692.35 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$97.20 same as last week and the lowest allotted rate was US$1:ZWL85.00 same as in the previous week, while a total of US$31 709 267.96 up from US$29 002 007.15 the previous week was allotted on the main exchange market at the highest rate of ZWL$95.00 same as in the previous week and a lowest allotted rate of ZWL$85.00 same as last week.

• The number of bids for SMEs significantly went up and for the Main exchange went up as well compared to the previous week's trading. Last week there were 1082 and 443 bids respectively with those disqualified standing at 59 and 33 respectively, and this week the bids stood at 1236 and 450 respectively with those disqualified standing at 56 and 22 respectively.
• All of the 1180 accepted bids amounting to US$10 582 486.96 were only allotted US$9 377 226.27 in the SMEs Auction.
• All of the 428 accepted bids amounting to US$34 192 013.42 were only allotted US$31 709 267.96 in the Main Auction.

The Main Exchange had 1180 accepted bids and all 1180 bids are said to have been allotted but amount of accepted bids was US$34 192 013.42 which differs from the allotted amount of US$31 709 267.96. The SME Exchange had 428 accepted bids and all 428 bids are said to have been allotted but amount of accepted bids was US$10 582 486.96 which differs from the allotted amount of US$9 377 226.27. RBZ may need to explain the differences.

21 September 2021

The Zimbabwean dollar fell to ZWL$86.9267 against the US dollar from last weeks trading of ZWL$86.3010 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-eighth and sixty-fourth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$9 779 692.35 up from US$8 004 968.66 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$97.20 up from ZWL$92.00 last week and the lowest allotted rate was US$1:ZWL85.00 same as in the previous week, while a total of US$29 002 007.15 down from US$33 522 285.59 the previous week was allotted on the main exchange market at the highest rate of ZWL$95.00 up from ZWL$90.00 in the previous week and a lowest allotted rate of ZWL$85.00 same as last week.

• The number of bids for SMEs significantly went up and for the Main exchange went down compared to the previous week's trading. Last week there were 862 and 444 bids respectively with those disqualified standing at 148 and 60 respectively, and this week the bids stood at 1082 and 443 respectively with those disqualified standing at 59 and 33 respectively.
• All of the 1023 accepted bids amounting to US$12 073 518.56 were only allotted US$9 779 692.35 in the SMEs Auction.
• All of the 410 accepted bids amounting to US$34 894 442.49 were only allotted US$29 002 007.15 in the Main Auction.

The Main Exchange had 1023 accepted bids and all 1023 bids are said to have been allotted but amount of accepted bids was US$34 894 442.49 which differs from the allotted amount of US$29 002 007.15. The SME Exchange had 410 accepted bids and all 410 bids are said to have been allotted but amount of accepted bids was US$12 073 518.56 which differs from the allotted amount of US$9 779 692.35. RBZ may need to explain the differences.

14 September 2021

The Zimbabwean dollar fell to ZWL$86.3010 against the US dollar from last weeks trading of ZWL$86.2131 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-seventh and sixty-third trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$8 004 968.66 up from US$6 407 769.05 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$92.00 unchanged from last week and the lowest allotted rate was US$1:ZWL85.00 up from ZWL$84.00 the previous week, while a total of US$33 522 285.59 up from US$31 095 590.71 the previous week was allotted on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$85.00 up from ZWL84.00 last week.

• The number of bids for SMEs significantly went up and for the Main exchange went up as well compared to the previous week's trading. Last week there were 591 and 299 bids respectively with those disqualified standing at 52 and 34 respectively, and this week the bids stood at 862 and 444 respectively with those disqualified standing at 148 and 60 respectively.
• All of the 714 accepted bids amounting to US$8 004 968.66 were allotted funds in the SMEs Auction.
• All of the 384 accepted bids amounting to US$35 791 364.07 were only allotted US$33 522 285.59 in the Main Auction.

The Main Exchange had 384 accepted bids and all 384 bids are said to have been allotted but amount of accepted bids was US$35 791 364.07 which differs from the allotted amount of US$33 522 285.59. RBZ may need to explain the differences.

7 September 2021

The Zimbabwean dollar fell to ZWL$86.2131 against the US dollar from last weeks trading of ZWL$86.0551 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-sixth and sixty-second trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 407 769.05 down from US$12 372 828.11 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$92.00 unchanged from last week and the lowest allotted rate was US$1:ZWL84.00 up from ZWL$83.00 the previous week, while a total of US$31 095 590.71 down from US$34 132 367.81 the previous week was allotted on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$84.00 up from ZWL83.00 last week.

• The number of bids for SMEs significantly went down and for the Main exchange went down as well compared to the previous week's trading. Last week there were 932 and 444 bids respectively with those disqualified standing at 31 and 65 respectively, and this week the bids stood at 591 and 299 respectively with those disqualified standing at 52 and 34 respectively.
• All of the 539 accepted bids amounting to US$6 407 769.05 were allotted funds in the SMEs Auction.
• All of the 265 accepted bids amounting to US$31 095 590.71 were allotted in the Main Auction.

31 August 2021

The Zimbabwean dollar fell to ZWL$86.0551 against the US dollar from last weeks trading of ZWL$85.9084 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-fifth and sixty-first trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$12 372 828.11 down from US$15 157 605.64 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$92.00 down from ZWL$95.00 last week and the lowest allotted rate was US$1:ZWL83.00 up from ZWL$82.50 the previous week, while a total of US$34 132 367.81 down from US$36 532 794.36 the previous week was allotted on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$83.00 same as last week.

• The number of bids for SMEs went down and for the Main exchange went up compared to the previous week's trading. Last week there were 971 and 425 bids respectively with those disqualified standing at 34 and 26 respectively, and this week the bids stood at 932 and 444 respectively with those disqualified standing at 31 and 65 respectively.
• All of the 901 accepted bids amounting to US$12 372 828.11 were allotted funds in the SMEs Auction.
• All of the 379 accepted bids amounting to US$37 281 155.90 were only allotted US$34 132 367.81 in the Main Auction.

The Main Exchange had 379 accepted bids and all 379 bids are said to have been allotted but amount of accepted bids was US$37 281 155.90 which differs from the allotted amount of US$34 132 367.81. RBZ may need to explain the differences.

24 August 2021

The Zimbabwean dollar fell to ZWL$85.9084 against the US dollar from last weeks trading of ZWL$85.8290 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-fourth and sixtieth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$15 157 605.64 up from US$12 357 545.21 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$95.00 up from ZWL$90.00 last week and the lowest allotted rate was US$1:ZWL82.50 same as in the previous week, while a total of US$36 532 794.36 down from US$36 747 358.03 the previous week was allotted on the main exchange market at the highest rate of ZWL$90.00 down from ZWL$91.00 in the previous week and a lowest allotted rate of ZWL$83.00 up from ZWL$82.50 last week.

• The number of bids for SMEs went up and for the Main exchange went up compared to the previous week's trading. Last week there were 843 and 413 bids respectively with those disqualified standing at 79 and 24 respectively, and this week the bids stood at 971 and 425 respectively with those disqualified standing at 34 and 26 respectively.
• All of the 937 accepted bids amounting to US$15 157 605.64 were allotted funds in the SMEs Auction.
• All of the 399 accepted bids amounting to US$41 284 248.05 were only allotted US$36 532 794.36 in the Main Auction.

The Main Exchange had 399 accepted bids and all 399 bids are said to have been allotted but amount of accepted bids was US$41 284 248.05 which differs from the allotted amount of US$36 532 794.36. RBZ may need to explain the differences.

17 August 2021

The Zimbabwean dollar fell to ZWL$85.8290 against the US dollar from last weeks trading of ZWL$85.7467 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-third and fifty-ninth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$12 357 545.21 up from US$10 762 380.86 the previous week was allotted on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 down from ZWL$92.00 last week and the lowest allotted rate was US$1:ZWL82.50 up from ZWL$82.00 the previous week, while a total of US$36 747 358.03 up from US$33 311 412.99 the previous week was allotted on the main exchange market at the highest rate of ZWL$91.00 same as in the previous week and a lowest allotted rate of ZWL$82.50 up from ZWL$82.15 last week.

• The number of bids for SMEs went up and for the Main exchange went up compared to the previous week's trading. Last week there were 710 and 382 bids respectively with those disqualified standing at 46 and 38 respectively, and this week the bids stood at 843 and 413 respectively with those disqualified standing at 79 and 24 respectively.
• All of the 764 accepted bids amounting to US$12 357 545.21 were allotted funds in the SMEs Auction.
• All of the 389 accepted bids amounting to US$38 179 408.02 were only allotted US$36 747 358.03 in the Main Auction.

The Main Exchange had 389 accepted bids and all 389 bids are said to have been allotted but amount of accepted bids was US$38 179 408.02 which differs from the allotted amount of US$36 747 358.03. RBZ may need to explain the differences.

11 August 2021

The Zimbabwean dollar fell to ZWL$85.7467 against the US dollar from last weeks trading of ZWL$85.7286 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-second and fifty-eighth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$10 762 380.86 up from US$10 313 921.32 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$92.00 up from ZWL$91.00 last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$33 311 412.99 down from US$35 186 456.86 the previous week was allocated on the main exchange market at the highest rate of ZWL$92.00 up from ZWL$91.00 the previous week and a lowest allotted rate of ZWL$82.15 up from ZWL$82.00 last week.

• The number of bids for SMEs went up and for the Main exchange went down compared to the previous week's trading. Last week there were 687 and 393 bids respectively with those disqualified standing at 63 and 41 respectively, and this week the bids stood at 710 and 382 respectively with those disqualified standing at 46 and 38 respectively.
• All of the 665 accepted bids amounting to US$10 762 380.86 were allocated funds in the SMEs Auction.
• All of the 344 accepted bids amounting to US$33 311 412.99 were allocated funds in the Main Auction.

SME bids received were 710 and 46 disqualified to remain with 664 accepted bids but RBZ allotted 665 bids as accepted. The Main Exchange had 344 accepted and 344 allotted bids but amount of accepted bids was US$34 814 140.90 which differs from the allotted amount of US$33 311 412.99. RBZ may need to explain the differences.

3 August 2021

The Zimbabwean dollar fell to ZWL$85.7286 against the US dollar from last weeks trading of ZWL$85.6402 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifty-first and fifty-seventh trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$10 313 921.32 up from US$9 933 403.94 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$91.00 down from ZWL$92.00 last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$35 186 456.89 down from US$37 242 121.28 the previous week was allocated on the main exchange market at the highest rate of ZWL$91.00 same as in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange went down compared to the previous week's trading. Last week there were 682 and 394 bids respectively with those disqualified standing at 56 and 38 respectively, and this week the bids stood at 687 and 393 respectively with those disqualified standing at 63 and 41 respectively.
• All of the 624 accepted bids amounting to US$10 313 921.32 were allocated funds in the SMEs Auction.
• All of the 352 accepted bids amounting to US$35 186 456.89 were allocated funds in the Main Auction.

27 July 2021

The Zimbabwean dollar fell to ZWL$85.6402 against the US dollar from last weeks trading of ZWL$85.6373 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fiftieth and fifty-sixth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$9 933 403.94 up from US$8 733 042.62 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$92.00 up from ZWL$90.00 last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$37 242 121.28 down from US$37 295 634.31 the previous week was allocated on the main exchange market at the highest rate of ZWL$91.00 up from ZWL$90.00 in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange went down compared to the previous week's trading. Last week there were 588 and 402 bids respectively with those disqualified standing at 44 and 32 respectively, and this week the bids stood at 682 and 394 respectively with those disqualified standing at 56 and 38 respectively.
• All of the 626 accepted bids amounting to US$9 933 403.94 were allocated funds in the SMEs Auction.
• All of the 356 accepted bids amounting to US$37 242 121.28 were allocated funds in the Main Auction.

20 July 2021

The Zimbabwean dollar fell to ZWL$85.6373 against the US dollar from last weeks trading of ZWL$85.5099 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-ninth and fifty-fifth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$8 733 042.62 up from US$8 439 127.69 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 same as last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$37 295 634.31 up from US$36 682 230.81 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange went up as well compared to the previous week's trading. Last week there were 584 and 381 bids respectively with those disqualified standing at 32 and 30 respectively, and this week the bids stood at 588 and 402 respectively with those disqualified standing at 44 and 32 respectively.
• All of the 544 accepted bids amounting to US$8 733 042.62 were allocated funds in the SMEs Auction.
• All of the 370 accepted bids amounting to US$37 295 634.31 were allocated funds in the Main Auction.

13 July 2021

The Zimbabwean dollar fell slightly to ZWL$85.5099 against the US dollar from last weeks trading of ZWL$85.5097 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-eighth and fifty-fourth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$8 439 127.69 up from US$7 749 452.73 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 same as last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$36 682 230.81 up from US$34 558 007.09 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange went up as well compared to the previous week's trading. Last week there were 539 and 376 bids respectively with those disqualified standing at 36 and 39 respectively, and this week the bids stood at 584 and 381 respectively with those disqualified standing at 32 and 30 respectively.
• All of the 552 accepted bids amounting to US$8 439 127.69 were allocated funds in the SMEs Auction.
• All of the 351 accepted bids amounting to US$36 682 230.81 were allocated funds in the Main Auction.

6 July 2021

The Zimbabwean dollar fell to ZWL$85.5097 against the US dollar from last weeks trading of ZWL$85.4234 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-seventh and fifty-third trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$7 749 452.73 down from US$8 038 987.65 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 same as last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$34 558 007.09 up from US$33 935 720.53 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went down and for the Main exchange went up compared to the previous week's trading. Last week there were 563 and 370 bids respectively with those disqualified standing at 43 and 39 respectively, and this week the bids stood at 539 and 376 respectively with those disqualified standing at 36 and 39 respectively.
• All of the 503 accepted bids amounting to US$7 749 452.73 were allocated funds in the SMEs Auction.
• All of the 337 accepted bids amounting to US$34 558 007.09 were allocated funds in the Main Auction.

29 June 2021

The Zimbabwean dollar fell to ZWL$85.4234 against the US dollar from last weeks trading of ZWL$85.3664 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-sixth and fifty-second trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$8 038 987.65 up from US$7 805 948.50 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 same as last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$33 935 720.53 down from US$36 952 648.91 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange went down compared to the previous week's trading. Last week there were 537 and 409 bids respectively with those disqualified standing at 29 and 37 respectively, and this week the bids stood at 563 and 370 respectively with those disqualified standing at 43 and 39 respectively.
• All of the 520 accepted bids amounting to US$8 038 987.65 were allocated funds in the SMEs Auction.
• All of the 331 accepted bids amounting to US$33 935 720.53 were allocated funds in the Main Auction.

22 June 2021

The Zimbabwean dollar fell to ZWL$85.3664 against the US dollar from last weeks trading of ZWL$85.2455 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-fifth and fifty-first trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$7 805 948.50 down from US$7 934 235.31 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 same as last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$36 952 648.91 down from US$38 979 127.69 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went down and for the Main exchange were also down compared to the previous week's trading. Last week there were 546 and 451 bids respectively with those disqualified standing at 25 and 54 respectively, and this week the bids stood at 537 and 409 respectively with those disqualified standing at 29 and 37 respectively.
• All of the 508 accepted bids amounting to US$7 805 948.50 were allocated funds in the SMEs Auction.
• All of the 372 accepted bids amounting to US$36 952 648.91 were allocated funds in the Main Auction.

15 June 2021

The Zimbabwean dollar fell to ZWL$85.2455 against the US dollar from last weeks trading of ZWL$85.0724 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-fourth and fiftieth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$7 934 235.31 up from US$5 312 455.05 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 same as last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$38 979 127.69 up from US$29 505 925.17 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 same as in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week's trading. Last week there were 461 and 383 bids respectively with those disqualified standing at 29 and 38 respectively, and this week the bids stood at 546 and 451 respectively with those disqualified standing at 25 and 54 respectively.
• All of the 521 accepted bids amounting to US$7 934 235.31 were allocated funds in the SMEs Auction.
• All of the 397 accepted bids amounting to US$38 979 127.69 were allocated funds in the Main Auction.

8 June 2021

The Zimbabwean dollar fell to ZWL$85.0724 against the US dollar from last weeks trading of ZWL$84.7653 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-third and forty-ninth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$5 312 455.05 down from US$5 939 711.40 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 same as last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$29 505 925.17 down from US$32 599 234.77 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 up from ZWL$89.00 the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week's trading. Last week there were 411 and 328 bids respectively with those disqualified standing at 31 and 38 respectively, and this week the bids stood at 461 and 383 respectively with those disqualified standing at 29 and 38 respectively.
• All of the 432 accepted bids amounting to US$5 312 455.05 were allocated funds in the SMEs Auction.
• All of the 345 accepted bids amounting to US$29 505 925.17 were allocated funds in the Main Auction.

1 June 2021

The Zimbabwean dollar fell to ZWL$84.7653 against the US dollar from last weeks trading of ZWL$84.7259 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-second and forty-eighth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$5 939 711.40 down from US$6 335 601.02 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 up from ZWL$89.00 last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$32 599 234.77 up from US$31 841 848.09 the previous week was allocated on the main exchange market at the highest rate of ZWL$89.00 unchanged from the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went down and for the Main exchange were also down compared to the previous week's trading. Last week there were 441 and 354 bids respectively with those disqualified standing at 25 and 35 respectively, and this week the bids stood at 411 and 328 respectively with those disqualified standing at 31 and 38 respectively.
• All of the 380 accepted bids amounting to US$5 939 711.40 were allocated funds in the SMEs Auction.
• All of the 290 accepted bids amounting to US$32 599 234.77 were allocated funds in the Main Auction.

26 May 2021

The Zimbabwean dollar fell to ZWL$84.7259 against the US dollar from last weeks trading of ZWL$84.6494 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their forty-first and forty-seventh trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 335 601.02 up from US$6 167 533.19 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$89.00 down from ZWL$90.00 last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$31 841 848.09 down from US$36 360 964.93 the previous week was allocated on the main exchange market at the highest rate of ZWL$89.00 unchanged from the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went down and for the Main exchange were also down compared to the previous week's trading. Last week there were 445 and 370 bids respectively with those disqualified standing at 44 and 40 respectively, and this week the bids stood at 441 and 354 respectively with those disqualified standing at 25 and 35 respectively.
• All of the 416 accepted bids amounting to US$6 335 601.02 were allocated funds in the SMEs Auction.
• All of the 319 accepted bids amounting to US$31 841 848.09 were allocated funds in the Main Auction.

18 May 2021

The Zimbabwean dollar fell to ZWL$84.6494 against the US dollar from last weeks trading of ZWL$84.6140 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fortieth and forty-sixth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$6 167 533.19 up from US$5 089 085.21 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$90.00 up from ZWL$88.50 last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$36 360 964.93 down from US$36 536 482.42 the previous week was allocated on the main exchange market at the highest rate of ZWL$89.00 up from ZWL$88.00 in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week's trading. Last week there were 382 and 362 bids respectively with those disqualified standing at 47 and 33 respectively, and this week the bids stood at 445 and 370 respectively with those disqualified standing at 44 and 40 respectively.
• All of the 401 accepted bids amounting to US$6 167 533.19 were allocated funds in the SMEs Auction.
• All of the 330 accepted bids amounting to US$36 360 964.93 were allocated funds in the Main Auction.

11 May 2021

The Zimbabwean dollar fell to ZWL$84.6140 against the US dollar from last weeks trading of ZWL$84.5282 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-ninth and forty-fifth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$5 089 085.21 up from US$4 513 404.05 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$88.50 same as last week and the lowest allotted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$36 536 482.42 up from US$32 854 222.02 the previous week was allocated on the main exchange market at the highest rate of ZWL$88.00 up from ZWL$87.00 in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week's trading. Last week there were 328 and 328 bids respectively with those disqualified standing at 30 and 47 respectively, and this week the bids stood at 382 and 362 respectively with those disqualified standing at 47 and 33 respectively.
• All of the 335 accepted bids amounting to US$5 089 085.21 were allocated funds in the SMEs Auction.
• All of the 329 accepted bids amounting to US$36 536 482.42 were allocated funds in the Main Auction.

4 May 2021

The Zimbabwean dollar fell to ZWL$84.5282 against the US dollar from last weeks trading of ZWL$84.5032 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-eighth and forty-fourth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$4 513 404.05 up from US$4 385 395.92 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$88.50 up from last week's ZWL$88.00 and the lowest alloted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$32 854 222.02 up from US$31 387 680.99 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 down from ZWL$87.30 in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went down and for the Main exchange were also down compared to the previous week's trading. Last week there were 352 and 335 bids respectively with those disqualified standing at 59 and 70 respectively, and this week the bids stood at 328 and 328 respectively with those disqualified standing at 30 and 47 respectively.
• All of the 298 accepted bids amounting to US$4 513 404.05 were allocated funds in the SMEs Auction.
• All of the 281 accepted bids amounting to US$32 854 222.02 were allocated funds in the Main Auction.

27 April 2021

The Zimbabwean dollar fell to ZWL$84.5032 against the US dollar from last weeks trading of ZWL$84.4826 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-seventh and forty-third trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$4 385 395.92 up from US$3 900 835.28 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$88.00 same as last week and the lowest alloted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$31 387 680.99 up from US$30 207 699.94 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.30 down from ZWL$89.00 in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were up compared to the previous week's trading. Last week there were 310 and 332 bids respectively with those disqualified standing at 57 and 65 respectively, and this week the bids stood at 352 and 335 respectively with those disqualified standing at 59 and 70 respectively.
• All of the 293 accepted bids amounting to US$4 385 395.92 were allocated funds in the SMEs Auction.
• All of the 265 accepted bids amounting to US$31 387 680.99 were allocated funds in the Main Auction.

20 April 2021

The Zimbabwean dollar remained unchanged at ZWL$84.4826 against the US dollar from last weeks trading of ZWL$84.4827 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-sixth and forty-second trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$3 900 835.28 up from US$3 749 275.87 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$88.00 up from US$1:ZWL$87.50 last week and the lowest alloted rate was US$1:ZWL82.00 unchanged from previous week, while a total of US$30 207 699.94 up from US$29 174 807.16 the previous week was allocated on the main exchange market at the highest rate of ZWL$89.00 up from ZWL$87.00 in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were up compared to the previous week's trading. Last week there were 298 and 316 bids respectively with those disqualified standing at 41 and 49 respectively, and this week the bids stood at 310 and 332 respectively with those disqualified standing at 57 and 65 respectively.
• All of the 253 accepted bids amounting to US$3 900 835.28 were allocated funds in the SMEs Auction.
• All of the 267 accepted bids amounting to US$30 207 699.94 were allocated funds in the Main Auction.

13 April 2021

The Zimbabwean dollar fell to ZWL$84.4827 against the US dollar from last weeks trading of ZWL$84.3970 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-fifth and forty-first trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$3 749 275.87 up from US$2 059 745.29 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$87.50 same as last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$29 174 807.16 up from US$23 191 023.66 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 same as in the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were up compared to the previous week's trading. Last week there were 171 and 226 bids respectively with those disqualified standing at 27 and 36 respectively, and this week the bids stood at 298 and 316 respectively with those disqualified standing at 41 and 49 respectively.
• All of the 257 accepted bids amounting to US$3 749 275.87 were allocated funds in the SMEs Auction.
• All of the 267 accepted bids amounting to US$29 174 807.16 were allocated funds in the Main Auction.

6 April 2021

The Zimbabwean dollar gained slightly to ZWL$84.3970 against the US dollar from last weeks trading of ZWL$84.4001 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-fourth and fortieth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 059 745.29 down from US$3 583 457.16 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$87.50 same as last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$23 191 023.66 down from US$32 185 461.06 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 down from ZWL$87.50 the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were up compared to the previous week's trading. Last week there were 300 and 344 bids respectively with those disqualified standing at 47 and 68 respectively, and this week the bids stood at 171 and 226 respectively with those disqualified standing at 27 and 36 respectively.
• All of the 144 accepted bids amounting to US$2 059 745.29 were allocated funds in the SMEs Auction.
• All of the 190 accepted bids amounting to US$23 191 023.66 were allocated funds in the Main Auction.

30 March 2021

The Zimbabwean dollar fell to ZWL$84.4001 against the US dollar from last weeks trading of ZWL$84.1197 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-third and thirty-ninth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$3 583 457.16 up from US$3 076 458.88 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$87.50 up from ZWL$87.00 last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$32 185 461.06 down from US$32 481 729.79 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.50 up from ZWL$87.00 the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were up compared to the previous week's trading. Last week there were 298 and 333 bids respectively with those disqualified standing at 75 and 49 respectively, and this week the bids stood at 300 and 344 respectively with those disqualified standing at 47 and 68 respectively.
• All of the 253 accepted bids amounting to US$3 583 457.16 were allocated funds in the SMEs Auction.
• All of the 276 accepted bids amounting to US$32 185 461.06 were allocated funds in the Main Auction.

23 March 2021

The Zimbabwean dollar fell to ZWL$84.1197 against the US dollar from last weeks trading of ZWL$83.9830 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-second and thirty-eighth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$3 076 458.88 down from US$3 233 262.22 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$87.00 same as last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$32 481 729.79 up from US$32 064 981.88 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 unchanged from the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week's trading. Last week there were 288 and 351 bids respectively with those disqualified standing at 59 and 59 respectively, and this week the bids stood at 298 and 333 respectively with those disqualified standing at 75 and 49 respectively.
• All of the 223 accepted bids amounting to US$3 076 458.88 were allocated funds in the SMEs Auction.
• All of the 284 accepted bids amounting to US$32 481 729.79 were allocated funds in the Main Auction.

16 March 2021

The Zimbabwean dollar fell to ZWL$83.9830 against the US dollar from last weeks trading of ZWL$83.9827 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirty-first and thirty-seventh trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$3 233 262.22 up from US$2 971 567.57 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$87.00 up from ZWL$86.00 last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$32 064 981.88 down from US$34 171 927.42 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 unchanged from the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week's trading. Last week there were 241 and 371 bids respectively with those disqualified standing at 36 and 73 respectively, and this week the bids stood at 288 and 351 respectively with those disqualified standing at 59 and 59 respectively.
• All of the 229 accepted bids amounting to US$3 233 262.22 were allocated funds in the SMEs Auction.
• All of the 292 accepted bids amounting to US$32 064 981.88 were allocated funds in the Main Auction.

9 March 2021

The Zimbabwean dollar fell to ZWL$83.9827 against the US dollar from last weeks trading of ZWL$83.8891 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirtieth and thirty-sixth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 971 567.57 down from US$3 106 385.22 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 same as last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$34 171 927.42 up from US$32 001 222.04 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 unchanged from the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went down and for the Main exchange were up compared to the previous week's trading. Last week there were 279 and 365 bids respectively with those disqualified standing at 43 and 61 respectively, and this week the bids stood at 241 and 371 respectively with those disqualified standing at 36 and 73 respectively.
• All of the 205 accepted bids amounting to US$2 971 567.57 were allocated funds in the SMEs Auction.
• All of the 298 accepted bids amounting to US$34 171 927.42 were allocated funds in the Main Auction.

2 March 2021

The Zimbabwean dollar fell slightly to ZWL$83.8891 against the US dollar from last weeks trading of ZWL$83.8868 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twenty-ninth and thirty-fifth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$3 106 385.22 up from US$2 579 573.89 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 down from $88.00 last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$32 001 222.04 down from US$34 615 283.93 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 unchanged from the previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week's trading. Last week there were 183 and 301 bids respectively with those disqualified standing at 23 and 34 respectively, and this week the bids stood at 279 and 365 respectively with those disqualified standing at 43 and 61 respectively.
• All of the 236 accepted bids amounting to US$3 106 385.22 were allocated funds in the SMEs Auction.
• All of the 304 accepted bids amounting to US$32 001 222.04 were allocated funds in the Main Auction.

23 February 2021

The Zimbabwean dollar fell to ZWL$83.8868 against the US dollar from last weeks trading of ZWL$83.7573 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twenty-eighth and thirty-fourth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 579 573.89 down from US$2 928 388.78 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$88.00 same as last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$34 615 283.93 down from US$35 658 511.50 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 down from ZWL$89.00 previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went down and for the Main exchange were also down compared to the previous week's trading. Last week there were 235 and 368 bids respectively with those disqualified standing at 19 and 44 respectively, and this week the bids stood at 183 and 301 respectively with those disqualified standing at 23 and 34 respectively.
• All of the 160 accepted bids amounting to US$2 579 573.89 were allocated funds in the SMEs Auction.
• All of the 267 accepted bids amounting to US$34 615 283.93 were allocated funds in the Main Auction.

16 February 2021

The Zimbabwean dollar fell to ZWL$83.7573 against the US dollar from last weeks trading of ZWL$83.3720 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twenty-seventh and thirty-third trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 928 388.78 up from US$2 646 464.78 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$88.00 same as last week and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$35 658 511.50 up from US$31 980 155.84 the previous week was allocated on the main exchange market at the highest rate of ZWL$89.00 up from ZWL$87.00 previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week's trading. Last week there were 215 and 331 bids respectively with those disqualified standing at 18 and 28 respectively, and this week the bids stood at 235 and 368 respectively with those disqualified standing at 19 and 44 respectively.
• All of the 216 accepted bids amounting to US$2 928 388.78 were allocated funds in the SMEs Auction.
• All of the 324 accepted bids amounting to US$35 658 511.50 were allocated funds in the Main Auction.

9 February 2021

The Zimbabwean dollar gained slightly to ZWL$83.3720 against the US dollar from last weeks trading of ZWL$83.3725 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twenty-sixth and thirty-second trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 646 464.78 up from US$2 615 771.59 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$88.00 down from last week's ZWL$89.00 and the lowest alloted rate was US$1:ZWL82 unchanged from previous week, while a total of US$31 980 155.84 down from US$33 704 856.36 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 down from ZWL$89.00 previous week and a lowest allotted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went down and for the Main exchange were up compared to the previous week's trading. Last week there were 220 and 325 bids respectively with those disqualified standing at 23 and 46 respectively, and this week the bids stood at 215 and 331 respectively with those disqualified standing at 18 and 28 respectively.
• Of the 197 accepted bids amounting to US$2 646 464.78 only 195 bids were allocated funds amounting to US$2 646 464.78 in the SMEs Auction.
• Of the 303 accepted bids amounting to US$31 980 155.84 only 302 bids were allocated funds amounting to US$31 980 155.84 in the Main Auction.

2 February 2021

The Zimbabwean dollar fell to ZWL$83.3725 against the US dollar from last weeks trading of ZWL$82.6756 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twenty-fifth and thirty-first trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 615 771.59 up from US$1 965 845.19 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$89.00 up from last week's ZWL$86.00 and the lowest rate accepted rate was US$1:ZWL82 unchanged from previous week, while a total of US$33 704 856.36 up from US$26 043 880.13 the previous week was allocated on the main exchange market at the highest rate of ZWL$89.00 up from ZWL$87.00 previous week and a lower accepted rate of ZWL$82.00 unchanged from last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week's trading. Last week there were 196 and 337 bids respectively with those disqualified standing at 6 and 27 respectively, and this week the bids stood at 220 and 325 respectively with those disqualified standing at 23 and 46 respectively.
• Of the 197 accepted bids amounting to US$2 708 146.97 only 188 bids were allocated funds amounting to US$2 615 771.59 in the SMEs Auction.
• Of the 279 accepted bids amounting to US$33 991 133.34 only 276 bids were allocated funds amounting to US$33 704 856.36 in the Main Auction.

26 January 2021

The Zimbabwean dollar fell to ZWL$82.6756 against the US dollar from last weeks trading of ZWL$82.0833 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twenty-fourth and thirtieth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 965 845.19 down from US$2 875 202.48 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 down from last week's ZWL$87.00 and the lowest rate accepted rate was US$1:ZWL82 up from US$1:ZWL$80.00 previous week, while a total of US$26 043 880.13 down from US$32 474 342.83 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 up from ZWL$86.00 previous week and a lower accepted rate of ZWL$82.00 from ZWL$80 last week.

• The number of bids for SMEs went down and for the Main exchange were up compared to the previous week's trading. Last week there were 228 and 289 bids respectively with those disqualified standing at 9 and 29 respectively, and this week the bids stood at 196 and 337 respectively with those disqualified standing at 6 and 27 respectively.
• Of the 190 accepted bids amounting to US$2 628 381.01 only 142 bids were allocated funds amounting to US$1 965 845.19 in the SMEs Auction.
• Of the 310 accepted bids amounting to US$37 116 065.12 only 223 bids were allocated funds amounting to US$26 043 880.13 in the Main Auction.

19 January 2021

The Zimbabwean dollar gained slightly to ZWL$82.0833 against the US dollar from last weeks trading of ZWL$82.0914 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twenty-third and twenty-ninth trading. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 875 202.48 up from US$2 811 445.80 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$87.00 up from last week's ZWL$86.50 and the lowest rate was unchanged at US$1:ZWL$80.00, while a total of US$32 474 342.83 down from US$33 024 167.01 the previous week was allocated on the main exchange market at the highest rate of ZWL$86.00 which was unchanged from last week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week's trading. Last week there were 207 and 305 bids respectively with those disqualified standing at 11 and 32 respectively, and this week the bids stood at 228 and 289 respectively with those disqualified standing at 9 and 29 respectively.

12 January 2021

The Zimbabwean dollar slumped to ZWL$82.0914 against the US dollar from last trading date's rate on 21 December 2020 of ZWL$81.7866 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their first trading in 2021. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 811 445.80 up from US$1 673 639.08 on 21 December 2020 was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.50 up from ZWL$86.00 on 21 December 2020 and the lowest rate was unchanged at US$1:ZWL$80.00 as on 21 December 2020, while a total of US$33 024 167.01 up from US$27 909 106.11 on 21 December 2020 was allocated on the main exchange market at the highest rate of ZWL$86.00 same as previous trading on 21 December 2020 and a lower rate of ZWL$80.00 same as on 21 December 2020.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous trading on 21 December 2020. On 21 December 2020 there were 129 and 237 bids respectively with those disqualified standing at 9 and 10 respectively, and this week the bids stood at 207 and 305 respectively with those disqualified standing at 11 and 32 respectively.

21 December 2020

The Zimbabwean dollar slumped with a slight margin to ZWL$81.7866 against the US dollar from last week's ZWL$81.7368 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twenty-first and twenty-seventh staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 673 639.08 down from US$2 477 875.40 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 same as in the previous week and the lowest rate was unchanged at US$1:ZWL$80.00 as in last week, while a total of US$27 909 106.11 down from US$29 468 843.66 the previous week was allocated on the main exchange market at the highest rate of ZWL$86.00 same as previous week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went down and for the Main exchange were also down compared to the previous week. Last week there were 207 and 278 bids respectively with those disqualified standing at 25 and 25 respectively, and this week the bids stood at 129 and 237 respectively with those disqualified standing at 9 and 10 respectively.

15 December 2020

The Zimbabwean dollar gained with a slight margin to ZWL$81.7368 against the US dollar from last week's ZWL$81.8572 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twentieth and twenty-sixth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 477 875.40 down from US$2 551 643.23 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 same as in the previous week and the lowest rate was unchanged at US$1:ZWL$80.00 as in last week, while a total of US$29 468 843.66 up from US$27 722 832.57 the previous week was allocated on the main exchange market at the highest rate of ZWL$86.00 same as previous week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week. Last week there were 202 and 265 bids respectively with those disqualified standing at 14 and 29 respectively, and this week the bids stood at 207 and 278 respectively with those disqualified standing at 25 and 25 respectively.

8 December 2020

The Zimbabwean dollar gained with a slight margin to ZWL$81.8572 against the US dollar from last week's ZWL$81.8765 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their nineteenth and twenty-fifth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 551 643.23 up from US$2 153 933.22 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 down from $87 the previous week and the lowest rate was unchanged at US$1:ZWL$80.00 as in last week, while a total of US$27 722 832.57 down from US$31 193 922.34 the previous week was allocated on the main exchange market at the highest rate of ZWL$86.00 down from $90.00 last week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week. Last week there were 189 and 278 bids respectively with those disqualified standing at 23 and 34 respectively, and this week the bids stood at 202 and 265 respectively with those disqualified standing at 14 and 29 respectively.

1 December 2020

The Zimbabwean dollar slumped to ZWL$81.8765 against the US dollar from last week's ZWL$81.8151 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their eighteenth and twenty-fourth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 153 933.22 down from US$2 324 864.48 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$87.00 up from $86 the previous week and the lowest rate was unchanged at US$1:ZWL$80.00 as in last week, while a total of US$31 193 922.34 up from US$30 630 562.31 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 up from $88.33 last week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week. Last week there were 181 and 289 bids respectively with those disqualified standing at 15 and 21 respectively, and this week the bids stood at 189 and 278 respectively with those disqualified standing at 23 and 34 respectively.

24 November 2020

The Zimbabwean dollar slumped to ZWL$81.8151 against the US dollar from last week's ZWL$81.7102 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventeenth and twenty-third staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 324 864.48 up from US$2 303 580.00 the previous week was allocated on the SMEs forex auction with the highest rate unchanged at US$1:ZWL$86.00 as in previous week and the lowest rate went up slightly to US$1:ZWL$80.00 form ZWL$79.00 last week, while a total of US$30 630 562.31 up from US$27 436 863.49 the previous week was allocated on the main exchange market at the highest rate of ZWL$88.33 down from $90.00 last week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went down and for the Main exchange were also down compared to the previous week. Last week there were 192 and 294 bids respectively with those disqualified standing at 17 and 38 respectively, and this week the bids stood at 181 and 289 respectively with those disqualified standing at 15 and 21 respectively.

17 November 2020

The Zimbabwean dollar traded at ZWL$81.7102 against the US dollar from last week's ZWL$81.6741 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixteenth and twenty-second staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$2 303 580.00 up from US$1 844 700.53 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 up from ZWL$85.00 the previous week and the lowest rate went down slightly to US$1:ZWL$79.00 form ZWL$80.00 last week, while a total of US$27 436 863.49 down from US$29 947 934.68 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 up from $86.30 last week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week. Last week there were 152 and 268 bids respectively with those disqualified standing at 9 and 20 respectively, and this week the bids stood at 192 and 294 respectively with those disqualified standing at 17 and 38 respectively.

10 November 2020

The Zimbabwean dollar was unchanged at ZWL$81.6741 against the US dollar from last week's ZWL$81.6740 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifteenth and twenty-first staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 844 700.53 up from US$1 777 373.04 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$85.00 down from ZWL$86.00 the previous week and the lowest rate went up slightly to US$1:ZWL$80.00 form ZWL$79.10 last week, while a total of US$29 947 934.68 up from US$26 517 763.38 the previous week was allocated on the main exchange market at the highest rate of ZWL$86.30 down from $90.00 last week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went up and for the Main exchange were also up compared to the previous week. Last week there were 148 and 260 bids respectively with those disqualified standing at 9 and 26 respectively, and this week the bids stood at 152 and 268 respectively with those disqualified standing at 9 and 20 respectively.

3 November 2020

The Zimbabwean dollar had a slight slump at ZWL$81.6740 against the US dollar from last week's ZWL$81.3531 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fourteenth and twentieth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 777 373.04 up from US$1 676 072.85 the previous week was allocated on the SMEs forex auction with the highest rate unchanged at US$1:ZWL$86.00 as in previous week and the lowest rate went down slightly to US$1:ZWL$79.10 form ZWL$79.90 last week, while a total of US$26 517 763.38 up from US$26 175 746.77 the previous week was allocated on the main exchange market at the highest rate of ZWL$90.00 up from $89.00 last week and a lower rate of ZWL$80.00 same as last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week. Last week there were 146 and 274 bids respectively with those disqualified standing at 18 and 36 respectively, and this week the bids stood at 148 and 260 respectively with those disqualified standing at 9 and 26 respectively.

27 October 2020

The Zimbabwean dollar had a slight slump at ZWL$81.3531 against the US dollar from last week's ZWL$81.3499 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their thirteenth and nineteenth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 676 072.85 down from US$1 740 633.79 the previous week was allocated on the SMEs forex auction with the highest rate unchanged at US$1:ZWL$86.00 as in previous week and the lowest rate went up slightly to US$1:ZWL$79.90 form ZWL$79.00 last week, while a total of US$26 175 746.77 down from US$27 057 595.85 the previous week was allocated on the main exchange market at the highest rate of ZWL$89.00 up from $87.10 last week and a lower rate of ZWL$80.00 up from ZWL$79.00 last week.

• The number of bids for SMEs was unchanged and for the Main exchange were up compared to the previous week. Last week there were 146 and 238 bids respectively with those disqualified standing at 14 and 15 respectively, and this week the bids stood at 146 and 274 respectively with those disqualified standing at 18 and 36 respectively.

20 October 2020

The Zimbabwean dollar had a slight slump at ZWL$81.3499 against the US dollar from last week's ZWL$81.3458 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their twelfth and eighteenth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 740 633.79 down from US$1 828 623.41 the previous week was allocated on the SMEs forex auction with the highest rate unchanged at US$1:ZWL$86.00 as in previous week and the lowest rate unchanged at US$1:ZWL$79.00 as last week, while a total of US$27 057 595.85 down from US$27 396 490.94 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.10 down from $88.07 last week and an unchanged lower rate of ZWL$79.00 as last week.

• The number of bids for SMEs went down and for the Main exchange were down as well compared to the previous week. Last week there were 163 and 255 bids respectively with those disqualified standing at 10 and 26 respectively, and this week the bids stood at 146 and 238 respectively with those disqualified standing at 14 and 15 respectively.

13 October 2020

The Zimbabwean dollar was unchanged at ZWL$81.35 against the US dollar from last week's ZWL$81.35 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their eleventh and seventeenth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 828 623.41 up from US$1 436 197.21 the previous week was allocated on the SMEs forex auction with the highest rate unchanged at US$1:ZWL$86.00 as in previous week and the lowest rate unchanged at US$1:ZWL$79.00 as last week, while a total of US$27 396 490.94 up from US$24 691 329.32 the previous week was allocated on the main exchange market at the highest rate of ZWL$88.07 up from $87.00 last week and an unchanged lower rate of ZWL$79.00 as last week.

• The number of bids for SMEs went up and for the Main exchange were up compared to the previous week. Last week there were 135 and 228 bids respectively with those disqualified standing at 21 and 35 respectively, and this week the bids stood at 163 and 255 respectively with those disqualified standing at 10 and 26 respectively.^[5]

6 October 2020

The Zimbabwean dollar gains slightly at ZWL$81.35 against the US dollar from last week's ZWL$81.44 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their tenth and sixteenth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 436 197.21 down from US$1 441 116.28 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 same as in previous week and the lowest rate standing at US$1:ZWL$79.00 up from $78.00 last week, while a total of US$24 691 329.32 up from US$23 067 310.73 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.00 up from $86.00 last week and a lower rate of ZWL$79.00 up from $76.00 last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week. Last week there were 129 and 233 bids respectively with those disqualified standing at 6 and 22 respectively, and this week the bids stood at 135 and 228 respectively with those disqualified standing at 21 and 35 respectively.

29 September 2020

The Zimbabwean dollar gains slightly at ZWL$81.44 against the US dollar from last week's ZWL$81.50 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their ninth and fifteenth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 441 116.28 up from US$1 224 857.29 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 same as in previous week and the lowest rate standing at US$1:ZWL$78.00 same as last week, while a total of US$23 067 310.73 down from US$30 414 189.63 the previous week was allocated on the main exchange market at the highest rate of ZWL$86.00 down from $86.70 last week and a lower rate of ZWL$78.00 same as last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week. Last week there were 117 and 301 bids respectively with those disqualified standing at 22 and 35 respectively, and this week the bids stood at 129 and 233 respectively with those disqualified standing at 6 and 22 respectively.

22 September 2020

The Zimbabwean dollar gains slightly at ZWL$81.50 against the US dollar from last week's ZWL$81.71 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their eighth and fourteenth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 224 857.29 up from US$1 145 006.39 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.00 slightly lower than in previous week and the lowest rate standing at US$1:ZWL$78.00 up from $75 last week, while a total of US$30 414 189.63 up from US$20 023 899.32 the previous week was allocated on the main exchange market at the highest rate of ZWL$86.70 down from $88 last week and a lower rate of ZWL$78.00 up from $75 last week.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week. Last week there were 96 and 174 bids respectively with those disqualified standing at 12 and 10 respectively, and this week the bids stood at 117 and 301 respectively with those disqualified standing at 22 and 35 respectively.

15 September 2020

The Zimbabwean dollar gains slightly at ZWL$81.71 against the US dollar from last week's ZWL$82.70 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their seventh and thirteenth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$1 145 006.39 up from US$876 674.44 the previous week was allocated on the SMEs forex auction with the highest rate at US$1:ZWL$86.50 slightly higher than in previous week and the lowest rate standing at US$1:ZWL$75.00, while a total of US$20 023 899.32 up from US$18 334 530.08 the previous week was allocated on the main exchange market at the highest rate of ZWL$88.00 and a lower rate of ZWL$75.00.

• The number of bids for SMEs went up and for the Main exchange were down compared to the previous week. Last week there were 74 and 216 bids respectively with those disqualified standing at 15 and 31 respectively, and this week the bids stood at 96 and 174 respectively with those disqualified standing at 12 and 10 respectively.

8 September 2020

The Zimbabwean dollar gains slightly at ZWL$82.70 against the US dollar from last week's ZWL$83.32 following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their sixth and twelfth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$876 674.44 down from US$976 403.52 the previous week was allocated on the SMEs forex auction with the highest rate remaining at US$1:ZWL$86.00 as in previous week and the lowest rate standing at US$1:ZWL$73.00, while a total of US$18 334 530.08 up from US$15 039 656.10 the previous week was allocated on the main exchange market at the highest rate of ZWL$88 and a lower rate of ZWL$75.00.

• The number of bids for SMEs went down and for the Main exchange were up compared to the previous week. Last week there were 75 and 154 bids respectively with those disqualified standing at 11 and 25 respectively, and this week the bids stood at 74 and 216 respectively with those disqualified standing at 15 and 31 respectively.

1 September 2020

The Zimbabwean dollar gains slightly at ZWL$83.32 against the US dollar following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fifth and eleventh staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$976 403.52 up from US$960 791.84 the previous week was allocated on the SMEs forex auction with the highest rate reaching US$1:ZWL$86 and the lowest rate standing at US$1:ZWL$76.50, while a total of US$ 15 039 656.10 up from US$14 064 871.90 the previous week was allocated on the main exchange market at the highest rate of ZWL$87.50 and a lower rate of ZWL$76.00.

• The number of bids for SMEs went down and for the Main exchange were up compared to the previous week. Last week there were 85 and 139 bids respectively with those disqualified standing at 10 and 33 respectively, and this week the bids stood at 75 and 154 respectively with those disqualified standing at 11 and 25 respectively.

25 August 2020

The Zimbabwean dollar eased to ZWL$83.40 against the US dollar following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their fourth and tenth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$960 791.84 up from US$517 630.88 the previous week was allocated on the SMEs forex auction with the highest rate reaching US$1:ZWL$88 and the lowest rate standing at US$1:ZWL$75, while a total of US$ 14 064 871.90 up from US$13 679 558.32 the previous week was allocated on the main exchange market at the highest rate of ZWL$88 and a lower rate of ZWL$80.00.

• 

  25 August 2020 Forex Auction

18 August 2020

The Zimbabwean dollar eased to ZWL$82.92 against the US dollar following today’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their third and ninth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) showed that a total amount of US$517 630.88 down from US$789 866 the previous week was allocated on the SMEs forex auction with the highest rate reaching US$1:ZWL$85 and the lowest rate standing at US$1:ZWL$78, while a total of US$ 13 679 558.32 down from US$18 million the previous week was allocated on the main exchange market at the highest rate of ZWL$88.38 and a lower rate of ZWL$80.00.^[6]

13 August 2020

The Zimbabwean dollar eased to 82.56 against the US dollar following Thursday’s separate foreign currency auction trading for both Small and Medium Enterprises (SMEs) and the main auction in their second and eighth staging respectively. Foreign exchange results released by the Reserve Bank of Zimbabwe (RBZ) on Thursday showed that a total amount of US$789 866 was allocated on the SMEs forex auction with the highest rate reaching US$1:ZWL$90 and the lowest rate standing at 1:80, while a total of US$18 million was allocated on the main exchange market at the highest rate of 90 and a lower rate of 77.^[7]

Forex auction system transparency queried

Industry called on the Reserve Bank of Zimbabwe to improve its disclosure levels if the foreign currency auction trading system was to remain sustainable. While the auction system has been credited for bringing stability to the exchange rate and inflation, keeping the market in the dark in terms of how much foreign currency is available has meant importers have insufficient information to base their bids on.

The market was, however, working without this key information with importers blindly bidding. Fortunately, the RBZ was able to meet supplies, but only up to mid-November 2020 when reports started filtering through that successful bidders were not getting access to the foreign currency on time. At some point the backlog was as long as five weeks.

Market watchers interpreted this as a weakness in the auction system, which seemed to be offering more than it had at lower bids. Accepting lower bids, when there was insufficient foreign currency available makes the whole exchange rate stability fallacious, according to financial analyst Walter Mandeya. Mandeya said one of the reasons why exporters had not voluntarily participated on the auction system was because the central bank was guaranteeing bids at lower levels even at times when its coffers could not meet demand.

“We are always told that all successfully bids were allotted their requirements in line with the import priority list, but we also know the RBZ has often struggled to meet its obligations on time.

“For whatever reason, it speaks to a mismatch between demand and supply.

“The supplier is being dishonest,” Mandeya said.

Noting the danger to the sustainability of the auction system, the Confederation of Zimbabwe Industries has now called on the central bank to declare the quantity of foreign currency on offer at each given auction. In a communiqué to its members, the business representative body said the long delays in the settlement of auction bids may be a reflection that the auction is not fully reflecting the market laws of supply and demand or there are serious bottlenecks in the banking system.

CZI said it will undertake an online survey after each auction to track how long it is taking for members to get their bids settled “so that we can engage authorities with real data from members.”

“The auction system, should declare how much is on offer before the start of each auction, so that bidders are aware, and the highest bids should be allowed to win,” said CZI.

The Business Membership Organisation (BMO) added that there is need for transparency on how the foreign currency being generated (by the Government) is being utilised.

“The foreign currency collected by the Government through taxes and other fees must be availed to the auction at the same way that exporters are surrendering a portion of their earnings for the auction.

“There should be a surrender portion for treasury and other departments and agencies collecting forex revenue to ensure supply to the auction is sustained.”^[8]

References