Record RBZ Auction allocation as Zimbabwe receives US$961m SDR allocation

Wed Aug 25 11:52:48 CAT 2021

 <mailto:info at bulls.co.zw> 

Dear Subscriber,

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 24 August 2021. 

Auction Results 17 August 2021

Auction Results 11 August 2021

SME Auction

Main Auction

SME Auction

Main Auction

Value of Bids Accepted (USD)

15,157,605.64

41,284,248.05

12,357,545.21

38,179,408.02

Highest Rate (ZWL)

95.0000

90.0000

90.0000

91.0000

Lowest Rate (ZWL)

82.5000

83.0000

82.5000

82.5000

82.5000

83.0000

82.5000

82.5000

Amount Allotted (USD)

15,157,605.64

36,532,794.36

12,357,545.21

36,747,358.03

Number of Bids received

971

425

843

413

Number of Bids rejected

34

26

79

24

Weighted Average Rate (ZWL)

85.9084

0.0924%

85.8290

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments

USD

USD

USD

USD

Raw Materials 

3,436,846.75

14,931,751.41

2,602,606.69

16,084,510.52

Machinery & Equipment 

4,165,020.38

8,341,921.49

2,916,795.17

8,720,467.04

Consumables  

3,314,351.23

2,189,046.00

3,063,886.09

2,187,488.80

Pharmaceuticals & Chemicals

1,300,977.26

1,530,409.87

861,513.52

1,809,919.73

Services 

1,504,108.07

4,551,438.30

1,688,192.68

3,973,338.31

Retail & Distribution 

332,729.19

1,854,938.81

253,910.32

1,678,523.58

Fuel, Electricity & Gas 

662,544.75

2,765,470.75

580,359.01

1,642,222.27

Paper & Packaging 

441,028.01

367,817.73

390,281.73

650,887.78

Total 

15,157,605.64

36,532,794.36

12,357,545.21

36,747,358.03

Grand Total Awarded

51,690,400.00

5.27%

49,104,903.24

 <mailto:info at bulls.co.zw> Harare- The Zimbabwe Dollar weakened 0.1% versus
the greenback on the auction market as the allotted bids rose 5.27% to
another record of US$51.7m vs US$49.1m in the prior week.

This comes against a statement by the Ministry of Finance and the Reserve
Bank of Zimbabwe that the country had received US$961m as its allocation
for. the Special Drawing Rights (SDRs). 

Whilst this is positive for the country in terms of boosting the forex
reserves, the economic impact will not be immediate given the processes
required for industry players to get allocation on the auction market,
import raw materials and then export or implement import substitution.

The USD remained firm on the parallel market but at the upper end of the
ZWL145-ZWL155 band. In the near term, there is unlikely to be significant
impact on the interbank and alternative market exchange rates with both
expected to be sticky at current levels as the RBZ is unlikely to widen the
criteria for entities qualifying for allocation.

These companies are likely to remain dependent on alternative market for the
forex requirements and that will keep the USD firm on the black market.

Invest Wisely!

Bulls n Bears 

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