RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 01 November 2022
The value of the Zimbabwe dollar has depreciated slightly against the US dollar according to the results of the official foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) today, 25 October 2022. The weighted average rate has moved to US$1: ZWL$634.2539.
Last week, the foreign exchange weighted average rate was US$1: ZWL$632.1371.
In an update seen by Pindula News, this week the central bank reported a total of US$11,496,730.86, done, up from US$10,600,227.09 thatwas allotted to various sectors at last week’s RBZ foreign currency auction.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX111/2022) was US$1,121,380.58 up from USD1,062,029.45allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FX117/2022) was US$10,375,350.28 down from US$USD10,637,610.97allotted last week.
♦ Weighted Average Rate 634.2539
How the money was allocated:
Raw Materials………………………………………………………………..US$4,333,879.27
Machinery and Equipment………………………………………………US$2,592,507.19
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$853,228.67
Services (Loans, Education, Dividends, Disinvestments, etc)…US$2,484,555.16
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$772,939.83
Electricity Pharmaceuticals and Chemicals …………………………US$315,355.66
Paper and Packaging …………………………………………………………US$144,265.08
TOTAL Amount allotted for the SMEFX111/2022 …………. US$1,121,380.58
TOTAL Amount allotted for the MAIN FM117/2022 …… US$10,375,350.28
GRAND TOTAL AWARDED ……………………………. US$11,496,730.86
Notes
1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
2. Some Bids were allotted on a pro-rata basis.
3. Willing buyer Willing seller Bid Rate as at 28 October 2022 was ZW$632.7703
