RBZ Foreign Currency Auction: Zimbabwe Dollar Continues On Downward Trend
The Zimbabwe dollar further dropped against the United States Dollar (USD) when the Reserve Bank of Zimbabwe (RBZ) conducted a foreign currency (forex) auction on Tuesday 22 June 2021.
Results from the RBZ forex auction show that the weighted average fell slightly from US$1: ZWL$85.2455 last week to US$1: ZWL$85.3664 this week.
- Forex Auction: Zimbabwe Dollar Sheds Value Against USD – 8 June 2021
- Forex Auction Results: Rate Remains Fixed At Just Under ZWL$85 – 1 June
- DRC Ambassador Listed As Top Beneficiary Of RBZ Foreign Currency Auction
- RBZ Forex Auction: Zimbabwe Dollar Weaken Further Against USD – 18 May
- PDF: RBZ List Of Forex Auction System Beneficiaries
- RBZ Foreign Currency Auction: Zimbabwe Dollar Drops Against USD – 5 May
This week US$7.8 million was allocated to the Small to Medium Enterprises forex auction while US$37 million was allocated to the main forex auction.
In total, US$44.8 million was allotted this week, down from US$46.7 million allotted last week, with the bulk of the allotment going to raw materials followed by machinery and equipment.
537 bids were received on the Small to Medium enterprises forex auction, with 508 accepted and 29 disqualified.
On the main forex auction, a total of 409 bids were received, 372 were accepted while 37 were disqualified.
The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said. Pindula News present below the table summarising what transpired on Tuesday.
- RBZ Forex Auction: Zimbabwe Dollar Further Drops
- Forex Auction: Zimbabwe Dollar Sheds Value Against USD – 8 June 2021
- Forex Auction Results: Rate Remains Fixed At Just Under ZWL$85 – 1 June
- DRC Ambassador Listed As Top Beneficiary Of RBZ Foreign Currency Auction
- RBZ Forex Auction: Zimbabwe Dollar Weaken Further Against USD – 18 May
- PDF: RBZ List Of Forex Auction System Beneficiaries
- RBZ Forex Auction: Zimbabwe Dollar Drops Against USD – 5 May
| PURPOSE | AMOUNT ALLOTTED SME AUCTION | AMOUNT ALLOTTED MAIN AUCTION |
| Raw Materials | 1,909,453.06 | 14,483,454.34 |
| Machinery and Equipment | 1,975,881.39 | 8,283,239.11 |
| Consumables (Incl. Spares, Tyres, Electricals, etc) | 1,937,073.90 | 2,568,998.59 |
| Services (Loans, Education, Dividends, Disinvestments, etc) | 509,698.84 | 1,863,690.12 |
| Retail and Distribution (Incl. Food, Beverages, etc) | 689,849.28 | 3,469,710.01 |
| Fuel, Electricity and Gas | 156,771.88 | 1,317,791.03 |
| Pharmaceuticals and Chemicals | 344,133.59 | 3,814,738.43 |
| Paper and Packaging | 283,086.56 | 1,151,027.28 |
| TOTAL | 7,805,948.50 | 36,952,648.91 |
| GRAND TOTAL AWARDED | 44,758,597.41 |
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