Home Business RBZ’s Forex Auction Results as at 09 November 2021

RBZ’s Forex Auction Results as at 09 November 2021

Forex auction

RBZ’s Forex Auction Results as at 09 November 2021. The Zimbabwe dollar has marginally lost value against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 09 November 2021.

This week, the weighted average was US$1: ZWL$99.9301, a slight depreciation from last week’s rate that stood at US$1: ZWL$98.9821. This week, US$11.08 million was allocated to the Small to Medium Enterprises forex auction while US$35.79 million was allocated to the main forex auction.

In total, US$46.87 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is up from the US$46.2 million allotted last week.

1 283 bids were received on the Small to Medium enterprises forex auction, with 1 238 accepted and 45 disqualified. The total number of bids allotted was 1 238. On the main forex auction, a total of 732 bids were received, 631 were accepted while 101 were disqualified. The total number of bids allotted was 631.

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.

Number of Bids Received 1283 732
Number of Bids Disqualified 45 101
Total Number of Bids Accepted 1238 631
Total Number of Bids Allotted 1238 631
Total Value of Bids Accepted : USD11,081,207.54 USD41,737,520.60
Amount Allotted : USD11,081,207.54 USD35,792,885.54
Highest Rate Received : 115.0000 115.0000
Lowest Bid Rate Received : 96.0000 97.1400
Lowest Bid Rate Allotted : 96.0000 97.1400
Weighted Average Rate : 99.9301


Raw Materials 2,680,358.38 13,440,963.00
Machinery and Equipment 3,906,669.62 11,276,442.00
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,621,803.73 2,755,134.32
Services (Loans, Education, Dividends, Disinvestments, etc) 1,030,215.16 2,391,255.59
Retail and Distribution (Incl. Food, Beverages, etc) 1,033,587.14 2,717,413.32
Fuel, Electricity and Gas 31605.49 61,963.54
Pharmaceuticals and Chemicals 554,207.68 2,070,566.65
Paper and Packaging 222,760.34 1,079,147.12
TOTAL 11,081,207.54 35,792,885.54



Source – Pindula News

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