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Zimbabwe Dollar Lost Value Against The USD During The RBZ's Forex Auction On 19 September 2023

1 year agoTue, 19 Sep 2023 16:22:57 GMT
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Zimbabwe Dollar Lost Value Against The USD During The RBZ's Forex Auction On 19 September 2023

The Zimbabwe dollar lost value against the United States dollar (USD) once again at the Reserve Bank of Zimbabwe’s wholesale foreign exchange auction held on September 19, 2023. 

The RBZ reported that the USD was valued at ZW$5,015.4279 this Tuesday, which is higher compared to the rate of ZWL$4,712.1675 recorded on September 12, 2023. This increase follows the previous rate of ZWL$4,647.9681 observed on September 6, 2023.

Regarding the allocation of foreign currency from the auction, the majority, amounting to $275,395.54, was assigned to Machinery and Equipment. Services such as loans, education, dividends, and disinvestments received $163,240.14, while Consumables (including spares, tyres, electricals, etc.) followed closely with an allocation of $121,390.64. Raw materials obtained the lowest allocation of $45,391.75.

The total allocated amount was $713,950.34, which is a decrease from the previous allocation of $1,161,863.98.

In recent months, there has been a noticeable increase in the allocation of funds towards Services.

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This allocation pattern represents a departure from the usual trend where raw materials typically received a larger share of the funds. The shift in allocation suggests changing priorities or demands within the economy post the 23-24 August 2023 elections.

These developments highlight the ongoing fluctuations in the exchange rate and the distribution of foreign currency across various sectors of the Zimbabwean economy. The stability of the exchange rate is yet to be determined, but some economists predicted that the Zimbabwean dollar may further depreciate after the period of August 23-24, 2023. They say this could occur if the newly-elected government does not take necessary measures to address the fundamental issues required for stabilising the macroeconomy and the local currency.

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34 Comments

Razor · 1 year ago
Zim dollar is toilet paper.
mupengo kuda bonde · 1 year ago
@kuda bonde dont be so apa ndiwe uri kupihwa mabond acho **** nenzara be a forcused youth
abc · 1 year ago
just keep quiet ziva zvokudya mari wakanyarara you understand nothing. kungowanawo chokuita .occupation.
Kudakwashe Mnangagwa · 1 year ago
I was appointed deputy minister of finance by my father guys so we are working on a plan with Muthuvi Njube were zimdollar will be the only currency before the end of the year tikuda kuona kuti muchakompeya zimdollar against chii muchaita vanhu kwavo kudzungaira kwese kuchapera neThe Mnangagwa dynasty
RG Mgabe · 1 year ago
washaa tooko ngalitshela selizibonele phela
juju · 1 year ago
lapha kufuneka umbono ka chi baby che zanu
Zuze · 1 year ago
Election Honeymoon over. MararaTGS inexorably sliding down. You can rig elections, but you cannot rig the economy. Chovha George
Anonymous · 1 year ago
The minister of finance said there is nothing to worry about a few days ago I am not sure he is going to say that again because last week it fell by less than a hundred dollars and this week it has fallen by over 300 dollars If this is not a source of worry then I don't know what is
· 1 year ago
Takufamba manje
enigma · 1 year ago
What has Ccc got to do with the runnings of the state Zanu Pf is in the driver's seat and you should man up and do as you promised before election. Chero Ccc ikahukura kusvika kupi azvina basa rese Zanu Pf ngaigadzirise nyika hanty ndizvo zvavakavimbisa.
maparamuro · 1 year ago
one reason why CCC is finding it difficult to make a real impact in the rural areas is this celebration of the suffering of the masses, wishing that masses suffer more so that they turn against zanupf. This is wrong at all levels. You can't wish the people to suffer and then turn around and ask for their support, hazvishande. Kufa kwe Zim$ hakunakire Zimbabwe uye hakuunze support ku opposition, this has been made abundantly clear over the last 23 years. CCC needs to change strategy and start sympathizing with the masses because chokwadi is that zanupf is not affected by the fall of the zim$.
Anonymous · 1 year ago
Fear and intimidation in rural areas nothing else
Anonymous · 1 year ago
You are totally out of line @Maparamuro That's not the reason why CCC lost in the rural areas You are also sinking into the Zanu Pf propagamda waters CCC is losing in the rural areas because they are barred from going out there to campaign and a lot of threats and intimidation is carried out on the rural populace It's baffling that you come up with such a shallow analysis You can do much better than that
Musavengana · 1 year ago
Very correct analysis. Kudira jecha concept doesn't work. Calling for sanctions doesn't work now we have 23 year old child born in the sanctions environment, this group believes in hardworking to eat and going abroad to seek employment..
cid · 1 year ago
Pfungwa dzema CCC ungati dzakazara hurwa😏Zim dollar rikanzi ra loser value mofara muchibvuma but rikanzi ra gainer motanga kuti hee method yavari ku calculated nayo ndeye fake.As for that guy @kuda bonde hakuna mukorokoza anoswerera pa pindula, plus rikadona Zim dollar rodonhera everyone we Zanu, CCC msoro wakazara mvura
Kuda Bonde · 1 year ago
@cid ngochàni comment
Aj · 1 year ago
@Cid is Boss Wiwi weWiwi World
Wuto · 1 year ago
@cid real name Ronaldo mawiwi ndoriripachitupa
org · 1 year ago
kuchikurubi maximum chi****e chezanu by next yeare mukomana Nero aripa state house apoo
org · 1 year ago
kuchikurubi maximum chi****e chezanu by next yeare mukomana Nero aripa state house apoo
Kudakwashe Bonde · 1 year ago
Ndri gold dealer foóls imwi ndimi muchamamà
Anonymous · 1 year ago
@ kuda Bonde, kunyadza ani kana uchishuwira kuti rirambe richidonha. Imi vemuma d****bha ndimi munokuvara worse because everything you need in towns is bought and the higher rates will hit you more. Think before you comment. Ndimi vana mudira jecha na Nero wako nxaaa. Handeyi tione.
Kuda Bonde · 1 year ago
So are you trying to teach me SON
sad emoji1
kuda Bonde · 1 year ago
Great news nhazvirambe zvakadaro dai yakatoita 1 = 200000 ndingafara chose
fugu pfeee · 1 year ago
kupenga hakuridzirwe bhero
Kudakwashe Bonde · 1 year ago
anpenga ndi tete vako hanzvadzi ya baba vako kana uchivaziva
Anonymous · 1 year ago
Neniwo ndofara chaizvo
mthuli · 1 year ago
Im baffled
sad emoji5
unknown · 1 year ago
😂😂😂

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