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ZWL Falls To US$1: ZWL$391.5339 From US$1: ZWL$ 379.2280

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Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya has said Tuesday’s Forex Auction saw the local Zimbabwe Dollar Currency Official Rate as at 12 July 2022 fall but remain steady against the greenback.

The Zimbabwe dollar continued it’s downwards trend, shedding value against the United States dollar as observed at Zimbabwe’s main 102nd foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ).

Mangudya said, “The foreign exchange weighted average rate has fallen to US$1: ZWL$391.5339 from US$1: ZWL$ 379.2280 announced last week.”

SMEFX95/2022: MAIN FX101/2022
Number of Bids Received : 643 212
Number of Bids Disqualified : 33 6
Total Number of Bids Accepted : 610 206
Total Number of Bids Allotted : 601 206
Total Value of Bids Accepted : USD4,109,266.59 USD19,506,514.99
Amount Allotted : USD4,053,982.01 USD19,506,514.99
Highest Rate Received : 420.0000 424.0000
Lowest Bid Rate Allotted : 366.0000 368.6400
Weighted Average Rate : 391.5339
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,311,715.92 9,854,894.09
Machinery and Equipment 1,311,033.71 4,331,443.64
Consumables (Incl. Spares, Tyres, Electricals, etc) 473,074.74 1,259,342.76
Services (Loans, Education, Dividends, Disinvestments, etc) 429,228.96 1,211,749.42
Retail and Distribution (Incl. Food, Beverages, etc) 291,251.46 1,302,076.56
Electricity 4,737.84 0.00
Pharmaceuticals and Chemicals 175,165.41 701,125.19
Paper and Packaging 57,773.97 845,883.33
TOTAL 4,053,982.01 19,506,514.99
GRAND TOTAL AWARDED 23,560,497.00

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