Greenback firms as Zimbabwe dollar breaks the ZWL87 psychological benchmark

[Bulls n Bears]

 <mailto:info at bulls.co.zw> 

 

 

Dear Subscriber,

 

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 28 September 2021. 

 

	
Auction Results 28 September 2021

Auction Results 21 September 2021

					

 

SME Auction

Main Auction

SME Auction

Main Auction


Value of Bids Accepted (USD)

10,582,486.96

34,192,013.42

12,073,518.56

34,894,442.49


Highest Rate (ZWL)

97.2000

95.0000

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)

9,377,226.27

31,709,267.96

9,779,692.35

29,002,007.15


Number of Bids received

1236

450

1082

443


Number of Bids rejected

56

22

59

33


 

				

Weighted Average Rate (ZWL)

87.6653

0.8425%

86.9267

	

 

				

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

2,953,286.28

12,919,239.28

3,004,873.06

12,642,805.59


Machinery & Equipment 

2,738,627.65

7,983,704.69

3,030,865.81

6,594,991.86


Consumables  

1,465,622.73

2,648,090.96

1,492,637.16

2,632,044.47


Pharmaceuticals & Chemicals

584,600.46

1,471,247.99

599,110.94

1,204,631.57


Services 

961,374.21

3,535,845.96

819,992.52

3,262,929.05


Retail & Distribution 

0.00

0.00

20,482.41

0.00


Fuel, Electricity & Gas 

370,929.89

1,904,542.68

495,895.86

1,942,533.00


Paper & Packaging 

302,785.05

1,246,596.40

315,834.59

722,071.61


Total 

9,377,226.27

31,709,267.96

9,779,692.35

29,002,007.15


 

				

Grand Total Awarded

41,086,494.23

5.94%

38,781,699.50

	
						
						

 
<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 nearly 1% versus the greenback
on the auction market to break through the ZWL87 psychological benchmark and
just falling short of the ZWL88 mark. This is regardless of the recovery in
bids allotted to US$41.1m up 5.94% on prior week.

 

The USD firmed significantly on the parallel market with individual trades
moving to ZWL155-ZWL160 band while the big volumes were in the ZWL170-ZWL172
to the US$.

 

This also came as RBZ blacklisted about 20 individuals for two years from
accessing financial and mobile services due to alleged participation in the
2020 currency crisis. 

 

Furthermore, this weakness came as the September Year on Year inflation rose
to 51.55% from 50.24% in August potentially signalling an end to technical
decline in inflation with the rise in month on month inflation signalling
the challenges on the ground.

 

Reports of a US$70m injection by RBZ to ease auction market backlog and the
clampdown on parallel market activities for forex have done little to steady
the nerves of the investors. The pressure is expected to remain on the ZWL
on both official and alternative market. 

On the other hand, the ZSE has resumed the bull run crossing the ZWL1
trillion market capitalisation with the ZSE All Share Index registering a
219.43 YTD return.

 


	
	
<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 

 

Cellphone:        +27 71 5444 769

Alt. Email:         <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:           <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:                 <http://www.bullszimbabwe.com/category/blogs/>
www.bullszimbabwe.com/category/blogs/ 

Twitter:            @bullsbears2010

LinkedIn:         Bulls n Bears Zimbabwe

Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe



 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210928/9f4702c6/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 24490 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210928/9f4702c6/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 195827 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210928/9f4702c6/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 91780 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210928/9f4702c6/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.emz
Type: application/octet-stream
Size: 2597 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210928/9f4702c6/attachment-0001.obj>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image008.png
Type: image/png
Size: 29238 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210928/9f4702c6/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image009.png
Type: image/png
Size: 173103 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210928/9f4702c6/attachment-0003.png>