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Mangudya hits 63rd RBZ Forex Auction with US$1: ZWL$86.9267

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Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya reached a Governor’s milestone yesterday by conducting his 63rd foreign currency auction.The Zimbabwe dollar (ZWL$) marginally lost value against the US dollar as indicated by the results of the RBZ foreign currency (forex) auction conducted on Tuesday, 21 September 2021.

Last week the weighted average was US$1: ZWL$86.3010 and fell to US$1: ZWL$86.9267 this week.

This week, US$9.8 million was allocated to the Small to Medium Enterprises forex auction while US$29 million was allocated to the main forex auction.

Below is the RBZ summary of the forex auction:

Number of Bids Received : SME FX58/2021

1082

MAIN FX60/2021

443

Number of Bids Disqualified : 59 33
Total Number of Bids Accepted : 1023 410
Total Number of Bids Allotted : 1023 410
Total Value of Bids Accepted : USD 12 073 518.56 USD 34 894 442.49
Amount Allotted : USD 9,779,692.35 USD29,002,007.15
Highest Rate Received : 97.2000 95.0000
Lowest Bid Rate Received : 85.0000 85.0000
Lowest Bid Rate Allotted : 85.0000 85.0000
Weighted Average Rate : 86.9267
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 3,004,873.06 12,642,805.59
Machinery and Equipment 3,030,865.81 6,594,991.86
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,492,637.16 2,632,044.47
Services (Loans, Education, Dividends, Disinvestments, etc) 599,110.94 1,204,631.57
Retail and Distribution (Incl. Food, Beverages, etc) 819,992.52 3,262,929.05
Fuel, Electricity and Gas 20,482.41 0.00
Pharmaceuticals and Chemicals 495,895.86 1,942,533.00
Paper and Packaging 315,834.59 722,071.61
TOTAL 9,779,692.35 29,002,007.15
GRAND TOTAL AWARDED 38,781,699.50  
ross moyo

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