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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