ZWL crashes on parallel market while recently introduced Interbank closes ground on premium

[Bulls n Bears]

 <mailto:info at bulls.co.zw> 

 

 

Dear Subscriber,

 

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 12 April 2022. 

 

	
Auction Results 05 April 2022

Auction Results 12 April 2022

	
US$

US$

US$

US$


 

SME Auction

Main Auction

SME Auction

Main Auction


Value of Bids Accepted

3,702,817.86

28,340,493.17

5,344,407.74

27,455,844.97


Total Number of Bids Received

1,052

1,052

1,014

384


Number of Bids Disqualified

63

63

27

22


Total Number of Bids Accepted

989

989

987

362


Number of Bids Allotted

989

989

987

362


Amount Allotted

3,702,817.86

28,340,493.17

5,344,407.74

27,455,844.97


Highest Rate Received

160.0000

160.0000

156.0000

155.0000


Lowest Bid Rate Allotted

135.0000

142.0000

135

138

					

Weighted Average Rate

150.2157

2.89%

145.8721

100.00%


 

				

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

999,034.76

12,472,455.22

1,484,964.35

12,775,361.35


Machinery & Equipment 

1,335,612.26

6,541,458.23

1,822,353.87

6,147,142.15


Consumables  

464,584.40

2,333,023.45

741,667.68

2,206,114.68


Pharmaceuticals & Chemicals

390,693.30

2,072,381.50

508,531.55

1,981,989.39


Services 

315,999.45

2,673,241.77

454,214.21

2,284,519.89


Retail & Distribution 

11,807.00

50000

14,500.00

0


Fuel, Electricity & Gas 

124,064.76

1,212,463.34

207,543.39

1,381,449.14


Paper & Packaging 

61,021.93

985,469.66

110,632.69

679,268.37


Total 

3,702,817.86

28,340,493.17

5,344,407.74

27,455,844.97


 

				

Grand Total Awarded

32,043,311.03

-2.31%

32,800,252.71

	
						
						

Harare- The Zimbabwe dollar breached the ZWL150 psychological mark weakening
to ZWL150.2157 against the greenback, retreating by 2.89% today on the Dutch
Auction market taking its YTD depreciation on the official market to 33%. On
the alternative market, the local currency crashed to ZWL305-ZWL310, a 39%
YTD depreciation taking its premium to official market at 106%. 

 

The RBZ has also introduced an alternative market in the form of the Willing
Buyer-Willing Seller Interbank market. A close assessment shows that the
rate is at a premium of circa 50% to the official Auction Market. Currently
the rate is hovering around ZWL225 while various outlets are in the
ZWL240-ZWL250 band representing an additional premium of circa 10%.

 

There are now effectively 3 foreign exchange markets being Auction Market,
Wiling Buyer-Willing Seller Interbank and Alternative Market.

 

Currently the premium on Interbank is ranging from 25%-30%.

 

The market is hoping the RBZ will find courage and lets the Interbank market
allocate meaningful amounts to corporates to reduce pressure on parallel
market.

 

  <mailto:bulls at bullszimbabwe.com> 

 

Invest Wisely!

 

Bulls n Bears 

 

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