Mangudya’s 65th Forex Auction Yields US$1: ZWL$88.5532

The Apex Bank Boss, Reserve Bank of Zimbabwe Governor Dr John Panonetsa Mangudya says the Zimbabwe dollar has remained relatively stable despite losing marginal ground against the US dollar as indicated by the results of the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted yesterday on Tuesday, 05 October 2021.

Last week the weighted average was US$1: ZWL$87.6653 and fell to US$1: ZWL$88.5532 this week.

Below is the RBZ summary of the forex auction:

Number of Bids Received :	1 217	466
Number of Bids Disqualified :	53	22
Total Number of Bids Accepted :	1 164	444
Total Number of Bids Allotted :	164	444
Total Value of Bids Accepted :	USD10,695,839.38	USD35,798,776.22
Amount Allotted :	USD10,695,839.38	USD35,798,776.22
Highest Rate Received :	98.0000	96.0000
Lowest Bid Rate Received :	85.0000	85.0000
Lowest Bid Rate Allotted :	85.0000	85.0000
Weighted Average Rate :	88.5532

PURPOSE	AMOUNT ALLOTTED SME AUCTION	AMOUNT ALLOTTED MAIN AUCTION
Raw Materials	3,247,758.50	15,226,564.09
Machinery and Equipment	3,595,447.33	8,272,309.33
Consumables (Incl. Spares, Tyres, Electricals, etc)	1,431,730.56	3,597,274.31
Services (Loans, Education, Dividends, Disinvestments, etc)	799,181.28	1,759,691.19
Retail and Distribution (Incl. Food, Beverages, etc)	997,704.92	3,573,549.89
Fuel, Electricity and Gas	29,354.10	129,343.11
Pharmaceuticals and Chemicals	405,158.72	2,131,929.23
Paper and Packaging	189,503.97	1,108,115.07
TOTAL	10,695,839.38	35,798,776.22
GRAND TOTAL AWARDED	46,494,615.60