Zimbabwe dollar continues to weaken as highest accepted bid rate rose to ZWL97.20

Wed Sep 22 06:12:26 CAT 2021

 <mailto:info at bulls.co.zw> 

Dear Subscriber,

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 21 September 2021. 

Auction Results 21 September 2021

Auction Results 14 September 2021

SME Auction

Main Auction

SME Auction

Main Auction

Value of Bids Accepted (USD)

12,073,518.56

34,894,442.49

8,004,968.66

35,791,364.07

Highest Rate (ZWL)

97.2000

95.0000

92.0000

90.0000

Lowest Rate (ZWL)

85.0000

85.0000

85.0000

85.0000

85.0000

85.0000

85.0000

85.0000

Amount Allotted (USD)

9,779,692.35

0.00

8,004,968.66

33,522,285.59

Number of Bids received

1082

443

862

444

Number of Bids rejected

59

33

148

60

Weighted Average Rate (ZWL)

86.9267

0.7198%

86.3010

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments

USD

USD

USD

USD

Raw Materials 

3,004,873.06

12,642,805.59

2,377,278.00

13,078,080.28

Machinery & Equipment 

3,030,865.81

6,594,991.86

2,479,855.75

8,320,526.83

Consumables  

1,492,637.16

2,632,044.47

1,213,396.43

2,679,565.53

Pharmaceuticals & Chemicals

599,110.94

1,204,631.57

602,455.25

1,550,903.97

Services 

819,992.52

3,262,929.05

734,088.06

4,168,993.39

Retail & Distribution 

20,482.41

0.00

0.00

273,803.57

Fuel, Electricity & Gas 

495,895.86

1,942,533.00

372,145.54

2,356,203.49

Paper & Packaging 

315,834.59

722,071.61

225,749.63

1,094,208.53

Total 

9,779,692.35

29,002,007.15

8,004,968.66

33,522,285.59

Grand Total Awarded

38,781,699.50

-6.61%

41,527,254.25

<https://www.icaz.org.zw/Shared_Content/Events/Event_Display.aspx?EventKey=M
ASTER0921&WebsiteKey=b11170c6-d941-42bf-a9af-c4a345ef4547> Harare- The
Zimbabwe Dollar continued on a losing streak weakening a further 0.72%
versus the greenback on the auction market while the aggregate allotted bids
declined 6.61% from US$41.5m to US$38.8m in the previous week.

This also came as the SME Auction allotments rose 22% to US$9.8mfrom US$8.0m
on record bids of 1,082 and Main Auction allotments fell  by 13% to US$29.0m
from US$33.5m

The USD remained range-bound on the parallel market with individual trades
in the ZWL150-ZWL155 range while big transactions remained firm and stable
in ZWL160-ZWL165 ranges. 

This is also against   a review in the price of wheat producer price to
ZWL55,517.69 (US$364/MT) up 26% from ZWL43,778.84. This is likely to
increase money supply as deliveries for the winter wheat get underway.

The Ministry of Finance has now started allotting cash available instead of
accepted bids to cut back on arrears for allotted bids.

<https://www.icaz.org.zw/Shared_Content/Events/Event_Display.aspx?EventKey=M
ASTER0921&WebsiteKey=b11170c6-d941-42bf-a9af-c4a345ef4547> 	

Invest Wisely!

Bulls n Bears 

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