Greenback remains firm against ZWL as Auction FX allotments decline

[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 22 February 2022

Auction Results 15 February 2022

	
US$

US$

US$

US$


 

SME Auction

Main Auction

SME Auction

Main Auction


Value of Bids Accepted

7,711,548.81

36,033,474.97

7,616,125.91

32,773,390.85


Total Number of Bids Received

936

538

943

546


Number of Bids Disqualified

97

53

99

78


Total Number of Bids Accepted

839

485

844

468


Number of Bids Allotted

776

394

844

420


Amount Allotted

7,214,768.53

29,581,020.42

7,616,125.91

29,588,776.75


Highest Rate Received

137.0000

140.0000

135.0000

135.0000


Lowest Bid Rate Received

				

Lowest Bid Rate Allotted

120.0000

122.0000

115.0000

119.0000

					

Weighted Average Rate

124.0189

2.8234%

120.5174

	

 

				

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

130,438.48

12,073,964.75

1,724,096.74

11,949,968.63


Machinery & Equipment 

3,393,868.67

7,337,379.27

2,571,095.35

6,788,161.77


Consumables  

1,905,771.90

2,821,117.03

1,140,156.52

3,199,010.56


Pharmaceuticals & Chemicals

713,215.69

1,602,944.17

1,051,993.40

2,639,725.86


Services 

559,499.28

3,325,877.60

617,456.92

2,970,176.75


Retail & Distribution 

28,752.39

0.00

31,770.53

113,813.32


Fuel, Electricity & Gas 

267,363.94

1,334,242.46

286,990.42

1,298,853.00


Paper & Packaging 

215,858.18

1,085,495.14

192,566.03

629,066.86


Total 

7,214,768.53

29,581,020.42

7,616,125.91

29,588,776.75


 

				

Grand Total Awarded

36,795,788.95

-1.10%

37,204,902.66

	
						
						

Harare- The Zimbabwe dollar weakened marginally by a 2.82% to ZWL124.0189 to
the greenback as allotted bids declined. Back logs will soon creep up on the
Auction Market if accepted bids continue to be higher than allotments.

 

In the past week, the RBZ Financial Intelligence Unit (FIU) imposed a
penalty on upmarket Shangri La Restaurant for using an exchange rate of
ZWL240 to the US$ against the market at circa ZWL120 to the US$. Market
intelligence says that there is an undocumented allowable cap of ZWL190 to
the US$ if selling in ZWL and accepting US$.

 

On the alternative market, the ZWL inched towards a mean of ZWL240. TM Pick
n Pay upped its rate to ZWL198.88 in a bid to outsmart the money changers
that mill outside the shops. It remains to be seen what the impact of the
FIU action will be as we have been in this place before with CFI directors
recently released after having been arrested on same matter of using
alternative market exchange rate

 

Meanwhile, the ZSE snapped a 22 day rally today as profit takers came to the
market but may only be temporary given the impending grain shortages owing
to erratic weather patterns across the country as well as missed 2020/2021
output targets. Inflation fears and exchange rate depreciation remain
entrenched and will provide support to the equities market.

 

Invest Wisely!

 

Bulls n Bears 

 

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