Zimbabwe Dollar makes more gains against the dollar


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