RBZ Dutch Auction FX Market sees Zim dollar breeze past ZWL97 as it looks set to end the year above ZWL110
Harare- The Zimbabwe Dollar breached the ZWL97 depreciating 4.17% as it looks set to hit ZWL100 mark in the month of November and potentially end the year around ZWL115. Grand total of allotted bids fell 15% to US$40.8mm as the central bank began implementing measures promised in the engagements with industry to allot only available foreign currency. On the other hand, the alternative market has seen the rate depreciate to ZWL180-185 range.
On the other hand, after weeks of strong rallying, the ZSE has seen profit takers arrive in droves even though one would have thought with a now rapidly weakening local currency, equities hedge would be sought.
However, perhaps the desire to crystalise gains have gotten the better of investors
Please find herein the RBZ Foreign Currency Auction Market results & Commentary for 26 October 2021.
| Auction Results 26 October 2021 | Auction Results 19 October 2021 | ||||
| SME Auction | Main Auction | SME Auction | Main Auction | ||
| 11,327,283.03 | 39,942,897.13 | 11,188,380.30 | 37,373,661.57 | ||
| Highest Rate Received | 110.0000 | 115.0000 | 105.0000 | 102.0000 | |
| Lowest Bid Rate Received | 90.0000 | 90.0000 | 88.5000 | 88.5000 | |
| Lowest Bid Rate Allotted | 95.0000 | 95.0000 | 90.0000 | 90.0000 | |
| Amount Allotted | 9,047,262.59 | 31,710,331.10 | 11,017,388.12 | 36,688,161.11 | |
| Total Number of Bids Received | 1336 | 598 | 1369 | 559 | |
| Total Number of Bids Accepted | 1282 | 568 | 1298 | 520 | |
| Number of Bids Allotted | 881 | 402 | 1243 | 502 | |
| Weighted Average Rate | 97.1361 | 4.1747% | 93.0810 | 100.0000% | |
| Purpose | SME AuctionAllotments | Main AuctionAllotments | SME AuctionAllotments | Main AuctionAllotments | |
| USD | USD | USD | USD | ||
| Raw Materials | 2,641,419.91 | 13,995,057.72 | 3,049,941.67 | 13,799,777.83 | |
| Machinery & Equipment | 2,938,244.92 | 8,412,238.04 | 3,460,523.13 | 9,877,882.27 | |
| Consumables | 1,334,586.82 | 2,993,185.24 | 1,869,021.43 | 4,290,143.67 | |
| Pharmaceuticals & Chemicals | 736,398.20 | 1,302,000.75 | 1,096,008.34 | 1,835,546.53 | |
| Services | 912,835.62 | 2,617,756.14 | 985,439.47 | 3,309,357.86 | |
| Retail & Distribution | 0.00 | 0.00 | 0.00 | 87,142.85 | |
| Fuel, Electricity & Gas | 331,653.20 | 1,568,495.54 | 356,694.20 | 2,181,884.67 | |
| Paper & Packaging | 152,123.92 | 821,597.67 | 199,759.88 | 1,306,425.43 | |
| Total | 9,047,262.59 | 31,710,331.10 | 11,017,388.12 | 36,688,161.11 | |
| Grand Total Awarded | 40,757,593.69 | -14.56% | 47,705,549.23 | ||
