Zimbabwe dollar breaks the ZWL88 psychological benchmark on Auction Market as parallel market races ahead

[Bulls n Bears]

 <mailto:info at bulls.co.zw> 

 

 

Dear Subscriber,

 

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 05 October 2021. 

 

	
Auction Results 05 October 2021

Auction Results 28 September 2021

					

 

SME Auction

Main Auction

SME Auction

Main Auction


Value of Bids Accepted (USD)

10,695,839.38

35,798,776.22

10,582,486.96

34,192,013.42


Highest Rate (ZWL)

98.0000

96.0000

97.2000

95.0000


Lowest Rate (ZWL)

85.0000

85.0000

85.0000

85.0000


 

85.0000

85.0000

85.0000

85.0000


Amount Allotted (USD)

10,695,839.38

35,798,776.22

9,377,226.27

31,709,267.96


Number of Bids received

1217

466

1236

450


Number of Bids rejected

53

22

56

22


 

				

Weighted Average Rate (ZWL)

88.5532

1.0027%

87.6653

	

 

				

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

3,247,758.50

15,226,564.09

2,953,286.28

12,919,239.28


Machinery & Equipment 

3,595,447.33

8,272,309.33

2,738,627.65

7,983,704.69


Consumables  

1,431,730.56

3,597,274.31

1,465,622.73

2,648,090.96


Pharmaceuticals & Chemicals

799,181.28

1,759,691.19

584,600.46

1,471,247.99


Services 

997,704.92

3,573,549.89

961,374.21

3,535,845.96


Retail & Distribution 

29,354.10

129,343.11

0.00

0.00


Fuel, Electricity & Gas 

405,158.72

2,131,929.23

370,929.89

1,904,542.68


Paper & Packaging 

189,503.97

1,108,115.07

302,785.05

1,246,596.40


Total 

10,695,839.38

35,798,776.22

9,377,226.27

31,709,267.96


 

				

Grand Total Awarded

46,494,615.60

13.16%

41,086,494.23

	
						
						

Harare- The Zimbabwe Dollar continued on a losing streak shedding 1% versus
the greenback on the auction market to break through the ZWL88 psychological
benchmark. This is regardless of the increase in bids allotted to US$46.5m
up 13% on prior week.

 

The USD firmed significantly on the parallel market with individual trades
moving to ZWL160-ZWL170 band while the big volumes were in the ZWL170-ZWL180
to the US$.

 

This also comes on the back of the RBZ publishing the timelines to clear the
Auction Market backlog which has been partly responsible for driving the
parallel market rate as the companies awaiting disbursements had to resort
to it to fund operations and raw materials imports.


The ZSE is now above ZWL1 trillion market cap or US$6bn at the alternative
market rate as parallel market rate movement re-ignites inflation fears.

 

 

Invest Wisely!

 

Bulls n Bears 

 

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