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
|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|
|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|
|GRAND TOTAL AWARDED||38,781,699.50|