ZWL weakens further as some state universities levy fees in US$

[Bulls n Bears]

               <mailto:info at bulls.co.zw> 

 

 

Dear Subscriber,

 

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 08 February 2022. 

 

	
Auction Results 08 February 2022

Auction Results 01 February 2022

	
US$

US$

US$

US$


 

SME Auction

Main Auction

SME Auction

Main Auction


Value of Bids Accepted

7,616,125.91

32,773,390.85

7,633,061.96

32,792,172.96


Total Number of Bids Received

943

546

898

536


Number of Bids Disqualified

99

78

100

85


Total Number of Bids Accepted

844

468

798

451


Number of Bids Allotted

844

420

798

410


Amount Allotted

7,616,125.91

29,588,776.75

7,633,061.96

30,198,858.89


Highest Rate Received

135.0000

135.0000

135.0000

130.0000


Lowest Bid Rate Received

				

Lowest Bid Rate Allotted

115.0000

119.0000

115.0000

116.0000

					

Weighted Average Rate

120.5174

1.3630%

118.8748

	

 

				

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

1,724,096.74

11,949,968.63

1,802,664.35

11,821,018.14


Machinery & Equipment 

2,571,095.35

6,788,161.77

2,264,729.79

7,901,825.18


Consumables  

1,140,156.52

3,199,010.56

876,554.00

3,562,165.30


Pharmaceuticals & Chemicals

1,051,993.40

2,639,725.86

916,491.54

1,661,438.04


Services 

617,456.92

2,970,176.75

568,363.12

3,280,283.01


Retail & Distribution 

31,770.53

113,813.32

20,620.00

0.00


Fuel, Electricity & Gas 

286,990.42

1,298,853.00

353,407.93

1,397,826.60


Paper & Packaging 

192,566.03

629,066.86

158,511.17

574,302.62


Total 

7,616,125.91

29,588,776.75

6,961,341.90

30,198,858.89


 

				

Grand Total Awarded

37,204,902.66

0.12%

37,160,200.79

	
						
						

Harare- The Zimbabwe dollar weakened marginally by a further 1.36% to
ZWL120.5174 to the greenback as re-dollarisation indications became
entrenched.

 

Some state Universities have become the latest entities to levy fees to
students in US$s with Chinhoyi University of Technology sending out the US$
fees notice with students supposed to pay fees ranging from US$386 for
Humanities to US$535 for Health Sciences pending approval of 2022 fees.

 

On the alternative market, the ZWL remained range bound in the
ZWL230-ZWL240. Retailers were giving 50% discounts if one pays in US$ in a
bid to attract US$ cash. This gives an implied rate of ZWL175 on average for
basic goods.

 

More and more economic agents continue to shift to the US$ business models
thus reducing possibility of de-dollarising in the near term. Globally, no
country has ever dollarized formally and then successfully de-dollarised.
The amount of confidence required is just beyond regulatory capabilities.
Multi currency environment is normally the functional end result.

 

But we cannot fault the authorities for trying. Everyone wants to own a
printing press.

 

Invest Wisely!

 

Bulls n Bears 

 

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