Auction FX Market sees Zim dollar face resistance at ZWL100

[Bulls n Bears]

               <mailto:info at bulls.co.zw> 

 

 

Dear Subscriber,

 

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 02 November 2021. 

 

	
Auction Results 02 November 2021

Auction Results 26 October 2021

					

 

SME Auction

Main Auction

SME Auction

Main Auction


Value of Bids Accepted

10,192,606.45

36,223,877.51

11,327,283.03

39,942,897.13


Highest Rate Received

120.0000

120.0000

110.0000

115.0000


Lowest Bid  Rate Received

95.0000

95.0000

90.0000

90.0000


Lowest Bid Rate Allotted

96.0000

96.0000

95.0000

95.0000


Amount Allotted 

10,182,138.13

36,205,839.71

9,047,262.59

31,710,331.10


Total Number of Bids Received

1334

659

1336

598


Total Number of Bids Accepted

1267

608

1282

568


Number of Bids Allotted

1253

605

881

402


 

				

Weighted Average Rate

98.9821

1.8650%

97.1361

	

 

 

 

 

 


Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

2,394,317.68

12,901,079.32

2,641,419.91

13,995,057.72


Machinery & Equipment 

3,758,991.50

10,654,060.05

2,938,244.92

8,412,238.04


Consumables  

1,434,640.59

3,359,302.18

1,334,586.82

2,993,185.24


Pharmaceuticals & Chemicals

1,173,402.01

2,201,160.30

736,398.20

1,302,000.75


Services 

847,494.68

4,207,524.96

912,835.62

2,617,756.14


Retail & Distribution 

8,890.05

0.00

0.00

0.00


Fuel, Electricity & Gas 

412,520.43

1,847,415.04

331,653.20

1,568,495.54


Paper & Packaging 

151,881.19

1,035,297.86

152,123.92

821,597.67


Total 

10,182,138.13

36,205,839.71

9,047,262.59

31,710,331.10


 

				

Grand Total Awarded

46,387,977.84

13.81%

40,757,593.69

	
						
						

Harare- The market held its breath ahead of the release of RBZ Auction
Foreign Currency results for 2 November waiting to see if the rate would
breach the ZWL100 psychological barrier but it wasn't to be. The local unit
slowly its depreciation against the greenback  to 1.9% to close at nearly
ZWL99. The highest bid rate received rose to ZWL120 on all markets
signifying desperation by players on the market top get access to the
dollars.

 

On the alternative market, the ZWL traded in a tight range of ZWL180-ZWL183
while odd lots were around ZWL170-ZWL175. Cash rate has also moved to almost
ZWL150.

 

Meanwhile the ZSE is seeing buyers come back in select counters after a bout
of profit taking last week as inflation fears creep in on the back of
exchange rate weakening notwithstanding contractionary monetary policy
overtures.

 

The big question on every economic agent right now is if the RBZ and Fiscal
authorities have in in them to let the Auction rate respond to market
demands or they will attempt to stabilise the Auction at ZWL100 level before
allowing it to break through the resistance level.

 

 

Invest Wisely!

 

Bulls n Bears 

 

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