Eagle's eyes on the Zimbabwe dollar as Auction rate hesitates to break the ZWL100 barrier

[Bulls n Bears]

               <mailto:info at bulls.co.zw> 

 

 

Dear Subscriber,

 

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 09 November 2021. 

 

	
Auction Results 09 November 2021

Auction Results 02 November 2021

					

 

SME Auction

Main Auction

SME Auction

Main Auction


Value of Bids Accepted

11,081,207.54

41,737,520.60

10,192,606.45

36,223,877.51


Highest Rate Received

115.0000

115.0000

120.0000

120.0000


Lowest Bid  Rate Received

96.0000

97.1400

95.0000

95.0000


Lowest Bid Rate Allotted

96.0000

97.1400

96.0000

96.0000


Amount Allotted 

11,081,207.54

35,792,885.54

10,182,138.13

36,205,839.71


Total Number of Bids Received

1,283

732

1334

659


Total Number of Bids Accepted

1,238

631

1267

608


Number of Bids Allotted

1,238

631

1253

605


 

				

Weighted Average Rate

99.9301

0.9487%

98.9821

	

 

 

 

 

 


Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

2,680,358.38

13,440,963.00

2,394,317.68

12,901,079.32


Machinery & Equipment 

3,906,669.62

11,276,442.00

3,758,991.50

10,654,060.05


Consumables  

1,621,803.73

2,755,134.32

1,434,640.59

3,359,302.18


Pharmaceuticals & Chemicals

1,030,215.16

2,391,255.59

1,173,402.01

2,201,160.30


Services 

1,033,587.14

2,717,413.32

847,494.68

4,207,524.96


Retail & Distribution 

31,605.49

61,963.54

8,890.05

0.00


Fuel, Electricity & Gas 

554,207.68

2,070,566.65

412,520.43

1,847,415.04


Paper & Packaging 

222,760.34

1,079,147.12

151,881.19

1,035,297.86


Total 

11,081,207.54

35,792,885.54

10,182,138.13

36,205,839.71


 

				

Grand Total Awarded

46,874,093.08

1.05%

46,387,977.84

	
						
						

Harare- The markets watched keenly the Auction market and we bet many were
left wondering when the Auction Rate did not cross the ZWL100 barrier as
expected. However, at ZWL99.9301 to the greenback, the rate is as good as
ZWL100

 

On the alternative market, the ZWL continued to weaken unabated. It was
being quoted at an average of ZWL192 from ZWL183 the prior week as market
anticipates expansion in money supply on the back of payments to cotton and
winter wheat farmers who need to hedge their value ahead of the next farming
season.

 

It is quite clear that the Auction rate will not be held below ZWL100
anymore and that the Alternative Market rate is headed for ZWL200 this
November unless some seismic policy shifts take place.

 

 

Invest Wisely!

 

Bulls n Bears 

 

Cellphone:        +27 71 5444 769

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