The Zimbabwe dollar has for the first time breached the 1 000 mark against US$1.00  on the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ) </a>foreign currency auction.
This Wednesday, 19 April 2023, the weighted average moved to US$1: ZWL$1 000.0227, from US$1: ZWL$959.3111 which was set on 11 April 2023.
The RBZ said the highest rate received was 1 125.0000, while the lowest bid rate allotted was 978 000.
The central bank also said a total of US$18,905,097.94 was allotted today down from US$20,568,055.34, which was allotted last week.
The bulk of the allotment went to raw materials followed by machinery and equipment.
The total amount allotted for the Small to Medium Enterprises Forex Auction was US$1,731,764.97 down from US$US$2,241,706.95.
The total amount allotted on the Main Forex Auction was US$17,173,332.97 down from US$18,326,348.39.
<blockquote>
♦ Weighted Average Rate moved to 1 000.0227 from 959.3111.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) US$616,821.49 (MA)US$9,101,791.90
Machinery and Equipment……………………..…(SME)US$537,029.59  … (MA)US$3,439,887.52
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$213,005.13 … (MA) US$1,077,195.49
Services (Loans, Education, Dividends, Disinvestments…) (SME) US$115,342.95  … (MA) US$1,033,601.13
Retail and Distribution (Incl. Food, Beverages, etc)…(SME) US$168,605.61 … (MA) US$1,183,168.54
Lubricants ………………………………………………. (SME) US$50,000.00
Pharmaceuticals and Chemicals …………….… (SME) US$54,055.63  … (MA) US$517,726.37
Paper and Packaging …………………………… (SME) US$26,904.57 …. (MA) US$769,962.02
<blockquote>
TOTAL Amount allotted for the SMEFX124/2023 ………..US$1,731,764.97
TOTAL Amount allotted for the MAIN FX130/2023 ………US$17,173,332.97
GRAND TOTAL AWARDED ………………………… US$18,905,097.94
</blockquote>
<h2>Notes</h2>
<blockquote>
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.
</blockquote>
</blockquote>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Pindula News

Zimbabwe Dollar Official Rate Crosses $1 000 Mark

The Zimbabwe dollar this week remained below the 1 000 mark against US$1.00  on the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> foreign currency auction despite reaching at least 1 500 on the parallel market in recent days.
This Tuesday, 11 April 2023, the weighted average moved to US$1: ZWL$959.3111, up from US$1: US$1: ZWL$944.7133 which was set on 04 April 2023.
The RBZ said the highest rate received was 1 100.0000, while the lowest bid rate allotted was 950 000.
The central bank also said a total of US$20,568,055.34 was allotted today down from US$20,969,947.45, which was allotted last week.
The bulk of the allotment went to raw materials followed by machinery and equipment.
The total amount allotted for the Small to Medium Enterprises Forex Auction was US$2,241,706.95 down from US$2,379,980.25.
The total amount allotted on the Main Forex Auction was US$18,326,348.39 down from US$18,589,967.20.
<blockquote>
♦ Weighted Average Rate moved to 959.3111 from 944.7133.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) US$780,117.95  (MA) US$10,145,544.10
Machinery and Equipment……………………..…(SME)US$680,281.10  … (MA)US$3,111,160.89
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$303,176.35 … (MA) US$1,082,756.22
Services (Loans, Education, Dividends, Disinvestments…) (SME) US$130,751.42  … (MA) US$1,157,856.91
Retail and Distribution (Incl. Food, Beverages, etc)…(SME) US$231,773.24 … (MA) US$1,603,231.85
Lubricants ………………………………………………. (SME) US$40,000.00
Pharmaceuticals and Chemicals …………….… (SME) US$92,954.56  … (MA) US$480,479.95
Paper and Packaging …………………………… (SME) US$22,652.33 …. (MA) US$705,318.47
TOTAL Amount allotted for the SMEFX124/2023 ………..US$2,241,706.95
TOTAL Amount allotted for the MAIN FX130/2023 ………US$18,326,348.39
GRAND TOTAL AWARDED ………………………… US$20,568,055.34
</blockquote>
<h2>Notes</h2>
<blockquote>
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.
</blockquote>

Zimbabwe Dollar Official Rate As Of 11 April 2023

The Reserve Bank of Zimbabwe (RBZ) forex auction weighted average rate moved to US$1: ZWL$779.3101 on 24 January 2023, from the US$1: ZWL$732.0036 that was set on 17 January.
The central bank said a total of US$13,863,114.02 was allotted today, down from US$14,471,109.58, which was allotted last week.
The bulk of the allotment went to raw materials followed by machinery and equipment.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX119/2023) was  US$1,515,043.86.
The total amount allotted on the Main Forex Auction (MAIN FX125/2023) was US$12,348,070.16.
<blockquote>
♦ Weighted Average Rate 779.310
</blockquote>
<h2>How the money was allocated:</h2>
Raw Materials………………………………………………………………..US$7,387,486.93
Machinery and Equipment………………………………………………US$1,500,218.74
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$823,964.98
Services (Loans, Education, Dividends, Disinvestments, etc)…US$1,659,147.96
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$1,309,042.98
Pharmaceuticals and Chemicals …………………………………………US$552,832.63
Paper and Packaging …………………………………………………………US$630419.8
TOTAL Amount allotted for the SMEFX111/2022 …………. US$1,515,043.86
TOTAL Amount allotted for the MAIN FM117/2022 …… US$12,348,070.16
GRAND TOTAL AWARDED ………………………………… US$13,863,114.02
<h2>Notes</h2>
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.

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 24 January 2023

The Zimbabwe dollar has continued to fall in value against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency auction.
At the latest auction conducted today, 17 January 2023, the weighted average rate moved to US$1: ZWL$732.0036 from the US$1: ZWL$705.4164 that was set last week on 10 January.
The central bank said a total of US$14,471,109.58 was allotted today, up from US$10,806,183.25, which was allotted last week.
The bulk of the allotment went to raw materials followed by machinery and equipment.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX119/2023) was  US$1,748,201.30.
The total amount allotted on the Main Forex Auction (MAIN FX125/2023) was US$12,722,908.28.
<blockquote>
♦ Weighted Average Rate 732.0036
</blockquote>
<h2>How the money was allocated:</h2>
Raw Materials………………………………………………………………..US$8,503,416.78
Machinery and Equipment………………………………………………US$1,434,549.97
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$1,269,405.28
Services (Loans, Education, Dividends, Disinvestments, etc)…US$1,293,749.25
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$1,174,923.2
Pharmaceuticals and Chemicals …………………………………………US$306,281.76
Paper and Packaging …………………………………………………………US$488,783.34
TOTAL Amount allotted for the SMEFX111/2022 …………. US$1,748,201.30
TOTAL Amount allotted for the MAIN FM117/2022 …… US$12,722,908.28
GRAND TOTAL AWARDED ………………………………… US$14,471,109.58
<h2>Notes</h2>
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.

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 17 January 2023

Moses Mashavave, an entrepreneur, has urged the Reserve Bank of Zimbabwe (RBZ) to narrow the gap between the small to medium enterprises auction and the main auction.
Mashavave, who is one of those that have benefitted from the auction floor, said some SMEs that have grown in the recent past but do not qualify to participate in the main auction system, also need to be catered for. He said:
<blockquote>
We need the central bank to work to narrow the gap between the SMEs auction and the main auction.
A company that has been receiving support from RBZ for a year has obviously grown but probably is not big enough to qualify for the main auction.
</blockquote>
The auction system resumed trading last week following the closure for the festive holidays.
On 10 January 2023, the RBZ allotted a total of US$10,806,183.25, with US$10,019,285.89 going to the main auction, while the SMEs auction was allotted US$786,897.36.
Since its inception in June 2020, US$3,7 billion has been allotted through the auction system to both the main and the SMEs auction. | <a href="https://www.chronicle.co.zw/call-to-revamp-auction-system/">Chronicle</a>

RBZ Urged To Overhaul Forex Auction System

The Zimbabwe dollar depreciated against the US dollar at the foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 10 January 2023.
The weighted average rate has moved to US$1: ZWL$705.4164 from the US$1: ZWL$671.4466 that was set at the previous auction conducted on 13 December 2022.
In its latest update, the central bank said a total of US$10,806,183.25, was allotted this week.
The bulk of the allotment went to raw materials followed by machinery and equipment.
The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX119/2023) was  US$786,897.36.
The total amount allotted on the Main Forex Auction (MAIN FX125/2023) was US$10,019,285.89.
On 13 December 2022, the SMEFX111/2022 was alloted US$1,451,144.38 while the MAIN FX117/2022 was alloted US$14,031,231.84 to give a total of US$15,482,376.22.
This week, the weighted average breached the 700 mark for the first time:
<blockquote>
♦ Weighted Average Rate 705.4164
</blockquote>
<h2>How the money was allocated:</h2>
Raw Materials………………………………………………………………..US$6,485,995.16
Machinery and Equipment………………………………………………US$1,229,977.86
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$869,692.18
Services (Loans, Education, Dividends, Disinvestments, etc)…US$814,836.48
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$722,903.86
Pharmaceuticals and Chemicals …………………………………………US$321,388.24
Paper and Packaging …………………………………………………………US$361,389.47
TOTAL Amount allotted for the SMEFX111/2022 …………. US$786,897.36
TOTAL Amount allotted for the MAIN FM117/2022 …… US$10,019,285.89
GRAND TOTAL AWARDED ………………………………… US$10,806,183.25
<h2>Notes</h2>
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 06 January 2023 was ZW$675.4490

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