The Zimbabwe dollar significantly recovered for the second time in a week, trading at ZWL$5 739 to the USD at the Reserve Bank of Zimbabwe (RBZ) Wholesale Foreign Exchange Auction on Thursday, 29 June.
On Tuesday, the local currency firmed against the United States Dollar to ZWL$6 326, from ZWL$6 926 on 20 June.
On Thursday, the RBZ said eight (8) bids were submitted by banks and all the bids were accepted but only four (4) were allotted cash.
According to the RBZ, US$20 million was on offer and just under US$3 million was allotted.
Commenting on the development, journalist Hopewell Chin’ono said the Government has taken out local currency liquidity so that there are few Zimbabwe dollars to buy the US Dollar. He added:
<blockquote>
This is an electioneering ploy that will backfire spectacularly.
The regime won’t let the local currency float freely because it will expose the lack of the required economic fundamentals!
</blockquote>
Chin’ono said as of Friday, 30 June, the street rate was around ZWL$8 700. On Tuesday, Chin’ono said:
<blockquote>
It is like denying food to a person with diarrhea, and then celebrating when they go to the toilet less than they did before.
You haven’t treated or cured the problem, you have simply denied the patient food, therefore there is nothing to excrete.
So what happened to the Zimbabwean dollar to firm up today? Many people are asking how this is possible.
Firstly, the central bank @ReserveBankZIM has taken out the Zimbabwean dollar liquidity in the marketplace. 
Hakuna RTGS muma streets.
Therefore the market is short of the Zim Dollar to buy the auction US dollars. 
So the movement of the rate is artificial and manipulated!
Shortage of the local currency does not mean that importers and their business enterprises have stopped working.
It just means that they are preferring to use their UD dollars to import goods.
The exchange rate is determined by the auction floor rate.
According to the central bank, auction forex only serves 13% of the total import bill of Zimbabwe. 
87% is sourced elsewhere.
Can the central bank sustain its liquidity crunch? No, it can’t and it won’t!
WHY? Because Government contractors haven’t been paid including parastatal contractors like ZUPCO who rely on government payments.
If contractors are paid, they will flood the Black Market looking for US Dollars and the local currency will crash again.
That is why I said in my opening remarks that the patient has not been cured, they simply starved the patient and are celebrating that artificial response.
Civil servant salaries were last adjusted when the rate was at Z$1,500 against the US Dollar.
But most crucially, big exporters are not getting their export surrender Zim Dollar payments too.
The government has decided to roll over these payments creating a Zim Dollar backlog.
A time will come when all these Zim Dollar payments will flood the market, that time the local currency will crash again.
Do not be fooled by election tinkering of the exchange rate.
The market is fast dollar rising, preferring to use US Dollars instead of Zim Dollars because Zimbabwe is officially under hyperinflation.
Even the official blended inflation rate month-on-month inflation rate is at 74%.
This in economics classifies Zimbabwe as hyperinflation.
This is the second time it has happened in five years.
Things will only improve when there are serious structural changes in Zimbabwe’s economy and politics and not piecemeal tempering with the exchange rate.
In Nigeria, the central bank Governor was suspended for this, and the forex market was liberalized.
In Zimbabwe, the appointing authority has no appetite for doing the right thing.
As Zimbabwe’s most recent successful Finance Minister, Tendai Biti reminded us in his dramatic terminologies, Ingori Kiya-Kiya Economics!
</blockquote>
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Pindula News

Zimbabwe Dollar Recovers For A Second Time In A Week

The Zimbabwe dollar has lost significant value against the United States dollar on the foreign currency auction held by the <a href="https://wiki.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ). </a>
On 09 May 2023, the weighted average was US$1: ZWL$1,212.5.8  up from US$1: ZWL$1,070 reported on 02 May 2023.
The central bank allotted a total of US$16,349 930.31 down from US$19,053,366.38, with the majority of the allotment going to raw materials, followed by machinery and equipment.
The amount allotted for the Small to Medium Enterprises Forex Auction was US$1,576,700.13 down from US$2,280,785.72, while the Main Forex Auction was allotted US$14,773,230.18 down from US$16,772,580.66.
<blockquote>
♦ Weighted Average Rate moved to 1,212.5.8 up from 1,070.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
<ul>
<li>Raw Materials ………………………. (SME) US$392,11.03 7,17,37.67; (MAIN) US$7,017,237.67</li>
<li>Machinery and Equipment …………. (SME) US$590,158.96; (MAIN) US$3,047,072.03</li>
<li>Consumables (Incl. Spares, Tyres, Electricals, etc) – (SME) US$200,611.76; (MAIN) US$963,868.44</li>
<li>Services (Loans, Education, Dividends, Disinvestments, etc) – (SME) US$170,312.82; (MAIN) US$854,682.24</li>
<li>Retail and Distribution (Incl. Food, Beverages, etc) – (SME) US$111,545.24; (MAIN) US$1,390,864.07</li>
<li>Lubricants …………………………. (MAIN) US$50,000,00</li>
<li>Pharmaceuticals and Chemicals … (SME) US$57,666.08; (MAIN) US$407,331.35</li>
<li>Paper and Packaging ……………… (SME) US$53,894.24; (MAIN) US$1,042,174.38</li>
<li>TOTAL amount alloted to SMEFX134/2023  … US$1,576,700.13</li>
<li>TOTAL amount alloted to MAIN FX140/2023) … US$14,773,230.18</li>
<li>GRAND TOTAL AWARDED ……. US$16,349 930.31</li>
</ul>
Notes
<ol>
<li>Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.</li>
<li>Some Bids were allotted on a pro-rata basis.</li>
</ol>
</blockquote>
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RBZ Forex Auction: Zimbabwe Dollar Official Rate 09 May 2023

Vice President <a href="https://wiki.pindula.co.zw/Constantino_Chiwenga">Constantino Chiwenga</a> has urged the nation to be calm in response to the sharp decline of the Zimbabwe dollar compared to the United States dollar (USD).
Speaking at the Zimbabwe International Trade Fair (ZITF) International Business Conference in Bulawayo this Wednesday, Chiwenga said the government will continue to pursue measures to maintain exchange rate stability.
<ol>
<li><a href="https://zero.pindula.co.zw/rbz-forex-auction-value-of-zimbabwe-dollar-keeps-decreasing/">RBZ Forex Auction: Value Of Zimbabwe Dollar Keeps Decreasing</a></li>
<li><a href="https://zero.pindula.co.zw/eu-attending-zitf-for-the-1st-time-ever/">EU Attending ZITF For The 1st Time Ever</a></li>
</ol>
He acknowledged the current exchange rate volatility but assured that it was temporary and exchange rate movements were not catastrophic. He said:
<blockquote>
Bold measures are being implemented by Government to foster price and exchange rate stability in the economy.
These measures include tight monetary and fiscal policy, insistence on value for money for Government procurement and effective monetary and surveillance by the Financial Intelligence Unit (FIU).
The transitory exchange rate volatility in the parallel market witnessed in the economy for March this year is merely a reflection of the store of value demand for foreign currency.
</blockquote>
Vice President Chiwenga stated that Zimbabwe has been experiencing an increase in foreign currency inflows, with a peak of US$11.6 billion in 2022, up from historic averages of around US$5 billion to US$6 billion per year. He added: 
<blockquote>
So, there is no point in rushing as though the world is coming to an end.
Reflecting this positive development, the country has also been recording current account surpluses since 2019, a critical condition for currency stability.
As such, Government is staying the course of the current monetary and fiscal policy measures which have proved effective in restoring and sustaining price and exchange rate stability.
</blockquote>
According to Vice President Chiwenga, the Reserve Bank of Zimbabwe (RBZ) is expanding investment options for individuals and corporations with excess Zimbabwe dollar balances.
He added that the Central Bank is planning to introduce “gold-backed digital products” to complement the Mosi-oa-Tunya gold coins currently available. The former military boss said this initiative will allow for the widespread trading of gold coins, expanding the tradable assets in the economy for storage purposes and reducing the speculative demand for foreign currency.
His remarks come as the <a href="https://zero.pindula.co.zw/prices-of-basic-commodities-have-significantly-increased-survey/">black market exchange rate</a> for the local currency has moved to between $1 800 and $2 100 to the US dollar, compared to the official rate of $1 021.
The decline of the Zimbabwe dollar has resulted in businesses raising the prices of their commodities as they price their products at double the official market.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

VP Chiwenga Calls For Calm Amid Decline Of Zimbabwe Dollar

The Zimbabwe dollar this week depreciated by less than ZWL$3.00 against the United States dollar on the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> foreign currency auction.
This Tuesday, 21 March 2023, the weighted average moved to US$1: ZWL$915.1822, from US$1: US$1: ZWL$912.5828 which was set on 14 March 2023.
The central bank said a total of US$18,719,881.96 was allotted today down from US$19,819,940.12, 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$1,950,094.82 down from US$2,530,187.62.
The total amount allotted on the Main Forex Auction was US$16,769,787.14 down from US$17,289,752.50.
<blockquote>
♦ Weighted Average Rate 915.1822 from 912.5828.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) US$572,024.56  (MA) US$7,324,594.15
Machinery and Equipment……………………..…(SME)US4578,298.43  … (MA)US$3,187,757.32
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME)US$301,083.28 … (MA)US41,338,761.04
Services (Loans, Education, Dividends, Disinvestments…) (SME)US$148,676.81  … (MA)US41,468,144.95
Retail and Distribution (Incl. Food, Beverages, etc)…(SME)US$252,715.86 … (MA)US$2,164,656.62
Electricity ………………………………………………. (SME) US$9,936.75
Pharmaceuticals and Chemicals …………….… (SME)US$64,907.54  … (MA)US$683,282.50
Paper and Packaging …………………………… (SME)US$22,451.59 ….(MA)US$602,590.56
TOTAL Amount allotted for the SMEFX124/2023 ………..US$1,950,094.82
TOTAL Amount allotted for the MAIN FX130/2023 ………US$16,769,787.14
GRAND TOTAL AWARDED ………………………… US$18,719,881.96
</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>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Zimbabwe Dollar Official Rate As Of 21 March 2023

The Zimbabwe dollar this week shed only $4.66 to average $912.5828 against the United States dollar on the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> foreign currency auction.
This Tuesday, 14 March 2023, the weighted average moved to US$1: ZWL$912.5828, from US$1: ZWL$$907.9236 that was set on 07 March 2023.
The central bank said a total of US$19,819,940.12 was allotted today up from US$18,079,094.38, 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$2,530,187.62 up from US$2,144,924.87.
The total amount allotted on the Main Forex Auction was US$17,289,752.50 up from US$15,934,169.51.
<blockquote>
♦ Weighted Average Rate 912.5828 from 907.9236.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) US$ 742,403.42  (MA) US$9,572,202.10
Machinery and Equipment……………………..…(SME) US$730,643.76  … (MA)US$2,429,410.70
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$407,072.60 … (MA)US$1,091,171.52
Services (Loans, Education, Dividends, Disinvestments…) (SME)US$206,857.61  … (MA) US$1,101,088.97
Retail and Distribution (Incl. Food, Beverages, etc)…(SME)US$291,079.27 … (MA)US$1,800,702.01
Electricity ………………………………………………. (MA) US$30,000.00
Pharmaceuticals and Chemicals …………….… (SME)US$99,076.09  … (MA)US$418,023.70
Paper and Packaging …………………………… (SME)US$53,054.87 ….(MA)US$847,153.50
TOTAL Amount allotted for the SMEFX124/2023 ………..US$2,530,187.62
TOTAL Amount allotted for the MAIN FX130/2023 ………US$17,289,752.50
GRAND TOTAL AWARDED ………………………… US$19,819,940.12
</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>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Zimbabwe Dollar Official Rate As Of 14 March 2023

The Zimbabwe dollar has breached the $900 mark against the US dollar on the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> foreign currency auction.
This Tuesday, 07 March 2023, the weighted average moved to US$1: ZWL$907.9236, from US$1: ZWL$892.6349 that was set on 28 February 2023.
The central bank said a total of US$18,079,094.38 was allotted today up from US$17,562,464.59, 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$2,144,924.87 down from US$2,165,675.36.
The total amount allotted on the Main Forex Auction was US$15,934,169.51 up from US$15,396,789.59.
<blockquote>
♦ Weighted Average Rate 907.9236 from 892.6349.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) US$ 603,795.73  (MA) US$7,959,704.89
Machinery and Equipment……………………..…(SME) US$630,601.33  … (MA)US$3,262,466.97
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$230,563.99 … (MA)US$966,846.51
Services (Loans, Education, Dividends, Disinvestments…) (SME)US$208,993.30  … (MA) US$1,306,547.18
Retail and Distribution (Incl. Food, Beverages, etc)…(SME)US$347,457.00 … (MA)US$1,182,639.25
Electricity ………………………………………………. (SME) US$3,409.13
Pharmaceuticals and Chemicals …………….… (SME)US$84,198.09  … (MA)US$410,374.94
Paper and Packaging …………………………… (SME)US$35,906.30 ….(MA)US$845,589.77
TOTAL Amount allotted for the SMEFX124/2023 ………..US$2,144,924.87
TOTAL Amount allotted for the MAIN FX130/2023 ………US$15,934,169.51
GRAND TOTAL AWARDED ………………………… US$18,079,094.38
</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>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Zimbabwe Dollar Breaches $900 Mark: Official Rate As Of 07 March 2023

The Zimbabwe dollar has continued to lose value against the US dollar, data released by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> this Tuesday show.
On 28 February 2023, the weighted average at the foreign currency auction moved to US$1: ZWL$892.6349,  fromUS$1: ZWL$881.7513 that was set on 22 February 2023.
The central bank said a total of US$17,562,464.59 was allotted today down from US$19,632,591,61, 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$2,165,675.36 up from US$1,814,191.43.
The total amount allotted on the Main Forex Auction was US$15,396,789.59 down from US$17,818,400.18.
<blockquote>
♦ Weighted Average Rate 856.8403 from 831.8147.
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials……………………………………(SME) US$652,589.50  (MA) US$7,856,434.10
Machinery and Equipment……………………..…(SME) US$525,704.45  … (MA)US$2,891,433.86
Consumables (Incl. Spares, Tyres, Electricals, etc)…(SME) US$339,961.23 … (MA)US$1,264,055.69
Services (Loans, Education, Dividends, Disinvestments…) (SME)US$197,421.92  … (MA) US$1,333,618.55
Retail and Distribution (Incl. Food, Beverages, etc)…(SME)US$251,868.14… (MA)US$991,023.07
Electricity ………………………………………………. (SME) US$9,860.16
Pharmaceuticals and Chemicals …………….… (SME)US$85,531.27  … (MA)US$353,928.77
Paper and Packaging …………………………… (SME)US$102,738.69 ….(MA)US$706,295.19
TOTAL Amount allotted for the SMEFX124/2023 ………..US$2,165,675.36
TOTAL Amount allotted for the MAIN FX130/2023 ………US$15,396,789.59
GRAND TOTAL AWARDED ………………………… US$17,562,464.59
</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>
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Zimbabwe Dollar Official Rate As Of 28 February 2023

The Zimbabwe dollar lost further ground 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, 15 November 2022.
The weighted average rate has moved to US$1: ZWL$639.1003.
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-18-october-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$636.2104.
In its latest update, the central bank said a total of US$13,053,307.52, was allotted this week, up from US$11,895,147.24thatwas allotted to various sectors at last week’s 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$1,333,267.85 up from US$1,080,615.32allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FX117/2022) was US$11,720,039.67 up from US$10,814,531.92allotted last week.
<blockquote>
♦ Weighted Average Rate 639.1003
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials………………………………………………………………..US$5,504,579.49
Machinery and Equipment………………………………………………US$2,273,841.85
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$1,245,775.99
Services (Loans, Education, Dividends, Disinvestments, etc)…US$1,696,012.26
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$755,839.47
Electricity Pharmaceuticals and Chemicals …………………………US$839,715.68
Paper and Packaging …………………………………………………………US$737,542.78
TOTAL Amount allotted for the SMEFX111/2022 …………. US$1,333,267.85
TOTAL Amount allotted for the MAIN FM117/2022 …… US$11,720,039.67
GRAND TOTAL AWARDED ……………………………. US$13,053,307.52
<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 11 November 2022 was ZW$609.6679
</blockquote>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 15 November 2022

The value of the Zimbabwe dollar fell slightly 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, 08 November 2022. The weighted average rate has moved to US$1: ZWL$636.2104.
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-18-october-2022/">Last week</a>, the foreign exchange weighted average rate was US$1: ZWL$634.2539.
In its latest update, the central bank said a total of US$11,895,147.24, was allotted this week, up from US$11,496,730.86thatwas allotted to various sectors at last week’s 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$1,080,615.32 down from US$1,121,380.58allotted last week.
The total amount allotted on the Main Forex Auction (MAIN FX117/2022) was US$10,814,531.92 up from US$10,375,350.28allotted last week.
<blockquote>
♦ Weighted Average Rate 636.2104
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
Raw Materials………………………………………………………………..US$6,097,578.24
Machinery and Equipment………………………………………………US$2,083,630.54
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$1,006,728.77
Services (Loans, Education, Dividends, Disinvestments, etc)…US$1,477,131.25
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$737,107.63
Electricity Pharmaceuticals and Chemicals …………………………US$378501.41
Paper and Packaging …………………………………………………………US$114,469.4
TOTAL Amount allotted for the SMEFX111/2022 …………. US$1,080,615.32
<blockquote>
TOTAL Amount allotted for the MAIN FM117/2022 …… US$10,814,531.92
GRAND TOTAL AWARDED ……………………………. US$11,895,147.24
</blockquote>
<h2>Notes</h2>
<blockquote>
<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.
3. Willing buyer Willing seller Bid Rate as at 04 November 2022 was ZW$608.2111
</blockquote>
</blockquote>
</blockquote>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 08 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 <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 25 October 2022. The weighted average rate has moved to US$1: ZWL$634.2539.
<a href="https://zero.pindula.co.zw/rbz-forex-auction-zimbabwe-dollar-official-rate-as-of-18-october-2022/">Last week</a>, 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.
<blockquote>
♦ Weighted Average Rate 634.2539
</blockquote>
<h2>How the money was allocated:</h2>
<blockquote>
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
</blockquote>
<h2>Notes</h2>
<blockquote>
<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.
3. Willing buyer Willing seller Bid Rate as at 28 October 2022 was ZW$632.7703
</blockquote>
</blockquote>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 01 November 2022

The Reserve Bank of Zimbabwe (RBZ) has revealed the Foreign Exchange Auction Allotments for August 2022 and Foreign Exchange Payments for the period January to August 2022.
In a statement, RBZ governor John Mangudya said that details about the allotments have been released to ensure that the public is informed of developments in the foreign exchange market. Part of the statement reads:
<blockquote>
In line with the Bank’s commitment to regularly keep the public informed of developments in the foreign exchange market, the Bank hereby publishes the following:
1. A list of the 352 beneficiaries of US$74 818 220 allotted under the Main Foreign Exchange Auction during the month of August 2022;
2. A list of the 1 154 beneficiaries of US$15 996 378 allotted under the SMEs Foreign
Exchange Auction during the month of August 2022; and
3. A schedule showing the total foreign exchange payments for the period January 2022 to August 2022, by source, amounting to US$5 306 865 010 broken down as follows: –
(i) foreign currency accounts (US$4 267 521 501),
(ii) Foreign Exchange Auction Allotments (US$925 501 215); and
(iii) the interbank market (US$113 842 293).
The bulk of the auction allotments during the month of August 2022 (71%) was for payment for raw materials (US$42 118 094) and machinery and equipment (US$22 343 924), with the remaining 29% of the total allotments going towards payment for services (US$9 345 489), consumables (US$7 913 708), retail and distribution (US$5 050 610), pharmaceuticals and chemicals (US$2 557 581), packaging (US$1 459 452) and fuel, electricity and gas (US$25 740), as shown in the tables below.
Total cumulative foreign exchange auction allotments since the inception of the Foreign Exchange Auction System stand at US$3 521 882 028.
</blockquote>
<a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/09/FOREIGN_EXCHANGE_AUCTION_SYSTEM_ALLOTMENTS_-_AUGUST_2022.pdf">Click the highlighted text to down the full statement in PDF format</a>

RBZ Foreign Exchange Payments For January To August 2022 | Full Statement

The Zimbabwe dollar has continued its downward spiral against the US dollar. According to the results of the official foreign currency auction conducted by the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> today, 20 September 2022, the weighted average rate has fallen to US$1: ZWL$613.3681.
Last week, the foreign exchange weighted average rate was US$1: ZWL$604.2580.
In an update seen by Pindula News, the central bank reported that a total of US$13.66 millionwas allotted to various sectors at this 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.
245 bids were received on the Small to Medium Enterprises Forex Auction, with 230 accepted and 15 disqualified. The total amount allotted was USD2,099,695.45 down from the USD2,196,092.29 allotted last week.
On the Main Forex Auction, a total of 103 bids were received, 100 were accepted and 3 were disqualified. The total amount allotted was USD11,562,566.29 down from USD13,429,628.61 allotted last week.
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.94">
<h2>SME FX105/2022</h2>
Number of Bids Received
</td>
<td title="Character Accurarcy=99.9">
<h2>MAIN FX111/2022</h2>
245
</td>
</tr>
<tr>
<td title="Character Accurarcy=99.63">Number of Bids Disqualified :</td>
<td title="Character Accurarcy=99.84">15</td>
</tr>
<tr>
<td title="Character Accurarcy=98.83">Total Number of Bids Accepted :</td>
<td title="Character Accurarcy=99.95">230</td>
</tr>
<tr>
<td title="Character Accurarcy=99.24">Total Number of Bids Allotted :</td>
<td title="Character Accurarcy=99.9">229</td>
</tr>
<tr>
<td title="Character Accurarcy=99.67">Total Value of Bids Accepted :</td>
<td title="Character Accurarcy=99.09">USD2,109,508.47</td>
</tr>
<tr>
<td title="Character Accurarcy=98.91">Amount Allotted :</td>
<td title="Character Accurarcy=99.33">USD2,099,695.45</td>
</tr>
<tr>
<td title="Character Accurarcy=98.55">Highest Rate Received :</td>
<td title="Character Accurarcy=99.25">655.0000</td>
</tr>
<tr>
<td title="Character Accurarcy=98.63">Lowest Bid Rate Allotted :</td>
<td title="Character Accurarcy=98.38">570.0000</td>
</tr>
<tr>
<td title="Character Accurarcy=99.01">Weighted Average Rate :</td>
<td title="Character Accurarcy=99.76">613.3681</td>
</tr>
</tbody>
</table>
<table>
<tbody>
<tr>
<td title="Character Accurarcy=99.83">PURPOSE</td>
<td title="Character Accurarcy=99.84">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.62">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Raw Materials</td>
<td title="Character Accurarcy=99.89">544,543.20</td>
<td title="Character Accurarcy=99.88">5,481,712.32</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td title="Character Accurarcy=99.9">664,958.47</td>
<td title="Character Accurarcy=99.86">2,897,448.71</td>
</tr>
<tr>
<td title="Character Accurarcy=99.32">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.97">286,454.89</td>
<td title="Character Accurarcy=99.93">781,648.34</td>
</tr>
<tr>
<td title="Character Accurarcy=99">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.97">288,805.86</td>
<td title="Character Accurarcy=99.95">1,095,578.45</td>
</tr>
<tr>
<td title="Character Accurarcy=99.4">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.75">163,244.46</td>
<td title="Character Accurarcy=99.95">766,563.72</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Electricity</td>
<td title="Character Accurarcy=99.89">51,255.00</td>
</tr>
<tr>
<td title="Character Accurarcy=99.82">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.89">92,325.75</td>
<td title="Character Accurarcy=99.78">353,813.31</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Paper and Packaging</td>
<td title="Character Accurarcy=99.93">59,362.82</td>
<td title="Character Accurarcy=99.92">134,546.44</td>
</tr>
<tr>
<td title="Character Accurarcy=99.83">TOTAL</td>
<td title="Character Accurarcy=99.91">2,099,695.45</td>
<td title="Character Accurarcy=99.89">11,562,566.29</td>
</tr>
<tr>
<td title="Character Accurarcy=99.84">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=99.84">13,662,261.74</td>
</tr>
</tbody>
</table>
<h2>Notes</h2>
<blockquote>
1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZW$ 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 of 9 September 2022 was ZW$568.1885.
</blockquote>

RBZ Forex Auction: Zimbabwe Dollar Official Rate As Of 20 September 2022

The Zimbabwe dollar has lost further ground against the US dollar at <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">the Reserve Bank of Zimbabwe (RBZ)</a> foreign currency (forex) auction.
Data released by the central bank following the forex auction conducted on Tuesday, 1 March 2022 shows that the value of the local currency fell by $3.4675 against the US dollar.
This week the weighted average was US$1: ZWL$127.4864 down from the 22 February 2022 rate that stood at US$1: ZWL$124.0189.
In total, US$37.2 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week.
970 bids were received on the Small to Medium enterprises forex auction, with 899 accepted and 71 disqualified. The total number of bids allotted was 899.
On the main forex auction, a total of 521 bids were received, 471 were accepted and 50 were disqualified. The total number of bids allotted was 471.
In a statement seen by Pindula News, RBZ said Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
<table class="table table-bordered table-hover" id="table_2" style="width: 99.8636%; height: 55px;">
<tbody>
<tr>
<td style="width: 45.019%;" title="Character Accurarcy=99">                                                                </td>
<td style="width: 25.1509%;" title="Character Accurarcy=99.94">SMEFX76/2022</td>
<td style="width: 201.658%;" title="Character Accurarcy=99.84">MAIN FX82/2022</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_2" style="width: 100.068%;">
<tbody>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=98.9">Number of Bids Received :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.97">970</td>
<td style="width: 106.81%;" title="Character Accurarcy=99.96">521</td>
</tr>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=99.19">Number of Bids Disqualified :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.88">71</td>
<td style="width: 106.81%;" title="Character Accurarcy=99.98">50</td>
</tr>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=99.71">Total Number of Bids Accepted :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.96">899</td>
<td style="width: 106.81%;" title="Character Accurarcy=99.95">471</td>
</tr>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=99.71">Total Number of Bids Allotted :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.96">899</td>
<td style="width: 106.81%;" title="Character Accurarcy=99.91">471</td>
</tr>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=99.24">Total Value of Bids Accepted :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.54">USD6,097,585.39</td>
<td style="width: 106.81%;" title="Character Accurarcy=94.19">USD31, 158,622.32</td>
</tr>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=98.14">Amount Allotted :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.03">USD6,097,585.39</td>
<td style="width: 106.81%;" title="Character Accurarcy=81.02">USD31, ,158,622.32</td>
</tr>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=99.01">Highest Rate Received :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.76">137</td>
<td style="width: 106.81%;" title="Character Accurarcy=99.86">140</td>
</tr>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=99.53">Lowest Bid Rate Allotted :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.81">120</td>
<td style="width: 106.81%;" title="Character Accurarcy=99.84">121</td>
</tr>
<tr>
<td style="width: 44.9821%;" title="Character Accurarcy=99.22">Weighted Average Rate :</td>
<td style="width: 25.0896%;" title="Character Accurarcy=99.46">127.4864</td>
<td style="width: 106.81%;" title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=99.79">PURPOSE</td>
<td title="Character Accurarcy=99.85">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.88">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Raw Materials</td>
<td title="Character Accurarcy=99.82">1,578,543.58</td>
<td title="Character Accurarcy=99.81">11,947,345.97</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td title="Character Accurarcy=99.9">1,929,616.29</td>
<td title="Character Accurarcy=99.87">7,879,063.04</td>
</tr>
<tr>
<td title="Character Accurarcy=99.59">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.89">1,033,569.71</td>
<td title="Character Accurarcy=99.78">2,420,070.99</td>
</tr>
<tr>
<td title="Character Accurarcy=99.53">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.89">521,512.26</td>
<td title="Character Accurarcy=99.57">2,943,223.88</td>
</tr>
<tr>
<td title="Character Accurarcy=99.5">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.93">616,198.12</td>
<td title="Character Accurarcy=99.82">3,793,314.52</td>
</tr>
<tr>
<td title="Character Accurarcy=99.89">Electricity</td>
<td title="Character Accurarcy=99.83">27,999.04</td>
<td title="Character Accurarcy=96.4">–</td>
</tr>
<tr>
<td title="Character Accurarcy=99.73">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.93">240,630.98</td>
<td title="Character Accurarcy=99.89">1,363,318.15</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Paper and Packaging</td>
<td title="Character Accurarcy=99.82">149,515.41</td>
<td title="Character Accurarcy=99.56">812,285.77</td>
</tr>
<tr>
<td title="Character Accurarcy=99.81">TOTAL</td>
<td title="Character Accurarcy=99.96">6,097,585.39</td>
<td title="Character Accurarcy=99.83">31,158,622.32</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_2" style="width: 100.109%; height: 39px;">
<tbody>
<tr style="height: 39px;">
<td style="width: 40.1043%; height: 39px;" title="Character Accurarcy=99"> GRAND TOTAL</td>
<td style="width: 77.4492%; height: 39px;" title="Character Accurarcy=99.94">37, 256, 207.71</td>
</tr>
</tbody>
</table>
 
 
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RBZ Forex Auction: The Zimbabwe Dollar Continues On A Downward Trend

The Zimbabwe dollar has lost further ground against the US dollar at <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">the Reserve Bank of Zimbabwe (RBZ)</a> foreign currency (forex) auction.
Data released by the central bank following the forex auction conducted on Tuesday, 22 February 2022 shows that the value of the local currency fell by $3.5015 against the US dollar.
This week the weighted average was US$1: ZWL$124.0189 down from the 15 February 2022 rate that stood at US$1: ZWL$120.5174.
In total, US$36.7 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is slightly lower than the US$37.2 million allotted last week.
936 bids were received on the Small to Medium enterprises forex auction, with 839 accepted and 97 disqualified. The total number of bids allotted was 776.
<div class="google-auto-placed ap_container">
On the main forex auction, a total of 538 bids were received, 485 were accepted and 53 were disqualified. The total number of bids allotted was 394.
In a statement seen by Pindula News, RBZ said Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
<table class="table table-bordered table-hover" id="table_2" style="width: 79.4918%; height: 31px;">
<tbody>
<tr>
<td style="width: 46.7611%;" title="Character Accurarcy=99">            </td>
<td style="width: 24.8988%;" title="Character Accurarcy=99.94"> SMEFX76/2022</td>
<td style="width: 87.0445%;" title="Character Accurarcy=99.84">MAIN FX82/2022 </td>
</tr>
</tbody>
</table>
</div>
<table class="table table-bordered table-hover" id="table_2" style="width: 79.4834%;">
<tbody>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99">Number of Bids Received :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=99.94">936</td>
<td style="width: 84.3373%;" title="Character Accurarcy=99.84">538</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.49">Number of Bids Disqualified :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=99.92">97</td>
<td style="width: 84.3373%;" title="Character Accurarcy=99.97">53</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.74">Total Number of Bids Accepted :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=99.91">839</td>
<td style="width: 84.3373%;" title="Character Accurarcy=99.95">485</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.79">Total Number of Bids Allotted :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=99.96">776</td>
<td style="width: 84.3373%;" title="Character Accurarcy=99.84">394</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.48">Total Value of Bids Accepted :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=99.3">USD7,711,548.81</td>
<td style="width: 84.3373%;" title="Character Accurarcy=97.69">USD36,033,474.97</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=98.43">Amount Allotted :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=99.2">USD7,214,768.53</td>
<td style="width: 84.3373%;" title="Character Accurarcy=98.96">USD29,581,020.42</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=98.62">Highest Rate Received :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=98.79">137.0000</td>
<td style="width: 84.3373%;" title="Character Accurarcy=98.15">140.0000</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.15">Lowest Bid Rate Allotted :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=98.42">120.0000</td>
<td style="width: 84.3373%;" title="Character Accurarcy=98.22">122.0000</td>
</tr>
<tr>
<td style="width: 46.7871%;" title="Character Accurarcy=99.5">Weighted Average Rate :</td>
<td style="width: 24.8996%;" title="Character Accurarcy=99.74">124.0189</td>
<td style="width: 84.3373%;" title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=99.82">PURPOSE</td>
<td title="Character Accurarcy=99.77">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.89">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.92">Raw Materials</td>
<td title="Character Accurarcy=99.91">130,438.48</td>
<td title="Character Accurarcy=99.81">12,073,964.75</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td title="Character Accurarcy=99.91">3,393,868.67</td>
<td title="Character Accurarcy=99.85">7,337,379.27</td>
</tr>
<tr>
<td title="Character Accurarcy=99.75">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.95">1,905,771.90</td>
<td title="Character Accurarcy=99.83">2,821,117.03</td>
</tr>
<tr>
<td title="Character Accurarcy=99.13">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.91">713,215.69</td>
<td title="Character Accurarcy=99.82">1,602,944.17</td>
</tr>
<tr>
<td title="Character Accurarcy=99.71">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.86">559,499.28</td>
<td title="Character Accurarcy=99.91">3,325,877.60</td>
</tr>
<tr>
<td title="Character Accurarcy=99.94">Electricity</td>
<td title="Character Accurarcy=99.93">28,752.39</td>
<td title="Character Accurarcy=99.93">0.00</td>
</tr>
<tr>
<td title="Character Accurarcy=99.73">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.92">267,363.94</td>
<td title="Character Accurarcy=98.97">1,334,242.46</td>
</tr>
<tr>
<td title="Character Accurarcy=99.88">Paper and Packaging</td>
<td title="Character Accurarcy=99.88">215,858.18</td>
<td title="Character Accurarcy=99.89">1,085,495.14</td>
</tr>
<tr>
<td title="Character Accurarcy=99.83">TOTAL</td>
<td title="Character Accurarcy=99.93">7,214,768.53</td>
<td title="Character Accurarcy=99.83">29,581,020.42</td>
</tr>
<tr>
<td title="Character Accurarcy=99.89">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=0"> </td>
<td title="Character Accurarcy=99.74">36,795,788.95</td>
</tr>
</tbody>
</table>
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