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ZimDollar Trades At US$1:ZWL$580 From Zwl$546

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ZimDollar Trades At US$1:ZWL$580 From Zwl$546

Reserve Bank of Zimbabwe RBZ Governor Dr John Panonetsa Mangudya has revealed to TechnoMag that the Zimbabwe dollar is now trading at 580 Zimbabwean dollars against the Green back following this weeks RBZ foreign currency auction.

Governor Mangudya’s forex Auction means that the Zimbabwe dollar has lost further ground against the US dollar at the official forex auction the Apex Bank conducted , 06 September 2022.

Exact forex auction results point to the foreign exchange weighted average rate now at precisely US$1: ZWL$580.1865 from US$1: ZWL$546.8254 announced by the RBZ Governor last week.

 

SME FX104/2022 MAIN FX110/2022
Number of Bids Received : 345 119
Number of Bids Disqualified : 4 8
Total Number of Bids Accepted : 341 111
Total Number of Bids Allotted : 288 99
Total Value of Bids Accepted : USD3,128,774.69 USD12,978,108.19
Amount Allotted : USD2,659,595.81 USD11,489,204.90
Highest Rate Received : 615,0000 630.0000
Lowest Bid Rate Allotted : 545.0000 545.0000
Weighted Average Rate : 580.1865
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 881,516.22 5,760,488.91
Machinery and Equipment 766,359.84 2,496,132.50
Consumables (Incl. Spares, Tyres, Electricals. etc) 294,407.16 875,799.93
Services (Loans, Education, Dividends, Disinvestments, etc) 393,672.24 1,368,718.37
Retail and Distribution (Incl. Food, Beverages, etc) 144,137.69 740,139.81
Electricity 10,000.00
Pharmaceuticals and Chemicals 130,203.79 200,092.27
Paper and Packaging 39,298.87 47,833.11
TOTAL 2,659,595.81 11,489,204.90
GRAND TOTAL AWARDED 14,148,800.71

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