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Zimbabwe Dollar Now ZwL 338.4921:USD1 Shedding More Value At Forex Auction

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The Reserve Bank Of Zimbabwe foreign currency Exchange Auction held 14 June 2022 saw the Zimbabwe dollar continue to shed value against the United States dollar.

The foreign exchange weighted average rate fell to US$1: ZWL$338.4921 from US$1: ZWL$325.3314 announced by the Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya last week.

The following are the SME’s and Main Auction results.

SMEFX92/2022 MAIN FX98/2022
Number of Bids Received : 849 290
Number of Bids Disqualified : 82 32
Total Number of Bids Accepted : 722 258
Total Number of Bids Allotted : 707 252
Total Value of Bids Accepted : USD3,642,701.09 USD21,635,580.55
Amount Allotted : USD3,399,345.72 USD21,124,292.41
Highest Rate Received : 365.0000 365.0000
Lowest Bid Rate Allotted : 320.0000 320.0000
Weighted Average Rate : 338.4921
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,049,423.15 12,017,258.17
Machinery and Equipment 1,268,280.56 3,934,339.14
Consumables (Incl. Spares, Tyres, Electricals, etc) 353,328.85 1,705,200.96
Services (Loans, Education, Dividends, Disinvestments, etc) 212,033.06 826,581.34
Retail and Distribution (Incl. Food, Beverages, etc) 248,441.83 1,223,673.03
Electricity 7,030.20 119,171.66
Pharmaceuticals and Chemicals 144,826.18 662,634.43
Paper and Packaging 115,981.89 635,433.68
TOTAL 3,399,345.72 21,124,292.41
GRAND TOTAL AWARDED 24,523,638.1.

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