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Zimbabwe Dollar Drops To ZWL$403.4048 from US$1: ZWL$391.5339

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Zimbabwe Dollar Drops To ZWL$403.4048 from US$1: ZWL$391.5339

The Zimbabwe dollar continued it’s downward trend at yesterday’s Reserve Bank of Zimbabwe RBZ Forex Auction.The current official Zimbabwe Dollar Rate as at 19 July 2022 is now ZWL$403.4048 from US$1: ZWL$391.5339.

The Zimbabwe dollar continued to shed value against the United States dollar as observed at Yesterday’s foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ).

The foreign exchange weighted average rate has fallen to US$1: ZWL$403.4048 from US$1: ZWL$391.5339 announced by the RBZ Governor Dr John Panonetsa Mangudya last week.

SMEFX96/2022: MAIN FX102/2022
Number of Bids Received : 594 214
Number of Bids Disqualified : 25 8
Total Number of Bids Accepted : 569 206
Total Number of Bids Allotted : 550 200
Total Value of Bids Accepted : USD3,867,264.37 USD19,685,492.47
Amount Allotted : USD3,762,731.31 USD19,161,542.54
Highest Rate Received : 450.0000 442.0000
Lowest Bid Rate Allotted : 382.0000 385.0000
Weighted Average Rate : 403.4048
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,140,296.19 10,097,040.50
Machinery and Equipment 1,388,815.64 3,897,765.28
Consumables (Incl. Spares, Tyres, Electricals, etc) 419,958.82 1,089,414.52
Services (Loans, Education, Dividends, Disinvestments, etc) 381,314.78 1,678,373.14
Retail and Distribution (Incl. Food, Beverages, etc) 269,662.01 1,172,171.43
Electricity 3,068.45
Pharmaceuticals and Chemicals 89,833.90 477,217.61
Paper and Packaging 69,781.52 749,560.06
TOTAL 3,762,731.31 19,161,542.54
GRAND TOTAL AWARDED 22,924,273.85

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