The Zimbabwe dollar has gained ground against the US dollar for the third week in a row on this Tuesday’s forex auction.
The local currency traded at ZWL$81.70 (weighted average) against the US dollar at today’s forex auction, firming from ZWL$82.69 last week and the previous week’s ZWL$83.32.
Today, US$21.16 million was allotted, from US$19.2m last week, and US$16m at the previous week’s auction.
The full Forex Auction 15/09/20 results are as follows:
SME Auction #7 | Main Auction #13 | |
Amount Allotted | US$1 145 006.39 | US$20 023 899.32 |
The Highest Rate | 86.5000 | 88.0000 |
The Lowest Rate | 75.0000 | 75.0000 |
Lowest Accepted Rate | 75.0000 | 75.0000 |
Total Bids Accepted | US$1 145 006.39 | US$20 023 899.32 |
Number of Bids Received | 96 | 174 |
Number of Bids Disqualified | 12 | 10 |
Forex Auction Weighted Average Rate: ZWL$81.7076
PURPOSE | Amount Allotted SME Auction (US$) | Amount Allotted Main Auction (US$) |
Raw Materials | 216 017.57 | 8 517 466.62 |
Machinery and Equipment | 218 345.42 | 3 184 717.63 |
Consumables (incl Spare, Tyres, Electricals) | 291 332.10 | 1 357 389.93 |
Pharmaceuticals and Chemicals | 69 586.00 | 1 201 484.00 |
Services (Loans, Dividends, Disinvestments, etc) | 148 175.75 | 1 982 763.37 |
Retail and Distribution (Incl. Food, Beverages, etc) | 67 557.05 | 1 561 290.48 |
Fuel, Electricity and Gas | 40 000.00 | 1 279 959.95 |
Paper and Packaging | 94 002.50 | 938 827.34 |
Total | 1 145 006.39 | 20 023 899.32 |