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

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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

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US$46.49 Million Allotted At RBZ’s 65th Main And 61st SME Forex Auctions

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