ZWL weakens on AUction Market as RBZ FIU clamps down on hardware shops

[Bulls n Bears]

               <mailto:info at bulls.co.zw> 

 

 

Dear Subscriber,

 

Please find herein the RBZ Foreign Currency Auction Market results &
Commentary for 01 March 2022. 

 

	
Auction Results 01 March 2022

Auction Results 22 February 2022

	
US$

US$

US$

US$


 

SME Auction

Main Auction

SME Auction

Main Auction


Value of Bids Accepted

6,097,585.39

31,158,622.32

7,711,548.81

36,033,474.97


Total Number of Bids Received

970

521

936

538


Number of Bids Disqualified

71

50

97

53


Total Number of Bids Accepted

899

471

839

485


Number of Bids Allotted

899

471

776

394


Amount Allotted

6,097,585.39

31,158,622.32

7,214,768.53

29,581,020.42


Highest Rate Received

137.0000

140.0000

137.0000

140.0000


Lowest Bid Rate Received

				

Lowest Bid Rate Allotted

120.0000

121.0000

120.0000

122.0000

					

Weighted Average Rate

127.4864

2.7199%

124.0189

	

 

				

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

1,578,543.58

11,947,345.97

130,438.48

12,073,964.75


Machinery & Equipment 

1,929,616.29

7,879,063.04

3,393,868.67

7,337,379.27


Consumables  

1,033,569.71

2,420,070.99

1,905,771.90

2,821,117.03


Pharmaceuticals & Chemicals

521,512.26

2,943,223.88

713,215.69

1,602,944.17


Services 

616,198.12

3,793,314.52

559,499.28

3,325,877.60


Retail & Distribution 

27,999.04

0.00

28,752.39

0.00


Fuel, Electricity & Gas 

240,630.98

1,363,318.15

267,363.94

1,334,242.46


Paper & Packaging 

149,515.41

812,285.77

215,858.18

1,085,495.14


Total 

6,097,585.39

31,158,622.32

7,214,768.53

29,581,020.42


 

				

Grand Total Awarded

37,256,207.71

1.25%

36,795,788.95

	
						
						

Harare- The Zimbabwe dollar weakened by a further 2.7% to  ZWL127.4864 to
the greenback as allotted bids rose marginally to US$37.3m. Today, only
accepted bids were allotted forex.

 

This came as the RBZ clamped down on parallel market by freezing bank
accounts for corporates such as Halsteads, Electrosales and Transerve. This
came on the heels of a fine issued to upmarket Shangri La Restaurant.

 

The Alternative Market has remained largely stable at around ZWL230-ZWL240
and declining in some instances coming off to around ZWL220.

 

It remains to be seen if the market believes the measures will work given
inflation creep and a poor agriculture season.

 

Invest Wisely!

 

Bulls n Bears 

 

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