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ZimDollar Continues To Fall

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Zimbabwe Dollar Falls To US$1: ZWL$416.2890 From US$1: ZWL$403.4048⊇

Despite the recent introduction of the Mosi-oa-Tunya gold coins by The Reserve Bank of Zimbabwe Governor Dr John Panonetsa Mangudya, the Zimbabwe dollar continued to shed value against the United States dollar as observed at yesterday’s foreign currency auction conducted by the RBZ.

According to RBZ Governor Dr Mangudya, the foreign exchange weighted average rate fell to US$1: ZWL$416.2890 from US$1: ZWL$403.4048 the Governor announced last week.

Willing buyer Willing Seller Bid Rate as at 22 July 2022 was ZWL397.3119.

Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were disqualified.

Some Bids were allotted on a pro-rata basis.

SMEFX97/2022: MAIN FX103/2022
Number of Bids Received : 704 236
Number of Bids Disqualified : 64 13
Total Number of Bids Accepted : 640 223
Total Number of Bids Allotted : 620 221
Total Value of Bids Accepted : USD4,430,341.14 JSD19,865,492.03
Amount Allotted : USD4,321,097.28 USD19,787,360.03
Highest Rate Received : 500.0000 490.0000
Lowest Bid Rate Allotted : 398.0000 399.0000
Weighted Average Rate : 416.2890
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,245,137.24 10,699,121.87
Machinery and Equipment 1,623,759.77 4,211,595.65
Consumables (Incl. Spares, Tyres, Electricals, etc) 471,701.87 1,370,024.51
Services (Loans, Education, Dividends, Disinvestments, etc) 430,799.05 1,594,852.38
Retail and Distribution (Incl. Food, Beverages, etc) 303,690.14 1,024,040.24
Electricity 0.00
Pharmaceuticals and Chemicals 125,599.67 660,457.97
Paper and Packaging 120,409.54 227,267.41
TOTAL 4,321,097.28 19,787,360.03
GRAND TOTAL AWARDED 24,108,457.31.

ross moyo

RBZ Allots US$24.1 Million

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