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Zimdollar Drops To $105 At Official Market As RBZ Liberates Currency

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The Reserve Bank of Zimbabwe (RBZ) Governor, Dr.  John Mangudya presided over his 71st forex auction resulting in the Zimbabwe dollar continuing to lose value against the US dollar, data from the RBZ forex auction conducted yesterday, 16 November 2021 shows.

This week, the weighted average was US$1: ZWL$105.6965, a significant fall from last week’s rate that stood at US$1: ZWL$99.9301.

RBZ Governor Dr Mangudya said, ”881 bids were received on the Small to Medium enterprises forex auction, with 693 accepted and 188 disqualified. The total number of bids allotted was 693.”

He added that ”On the main forex auction, a total of 623 bids were received, 420 were accepted and 203 were disqualified. The total number of bids allotted was 420.”

The RBZ said bids that were disqualified were not eligible in terms of the Priority List.

Number of Bids Received 881 623
Number of Bids Disqualified 188 203
Total Number of Bids Accepted : 693 420
Total Number of Bids Allotted : 693 420
Total Value of Bids Accepted : USD5,520,428.32 USD36,228,651.92
Amount Allotted : USD5,520,428.32 USD36,228,651.92
Highest Rate Received : 120.0000 120.0000
Lowest Bid Rate Received : 98.0000 99.0000
Lowest Bid Rate Allotted : 98.0000 99.0000
Weighted Average Rate : 105.6965

 

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