Parallel market premium reduces marginally as ZWL depreciates on Auction Market

[Bulls n Bears]

               <mailto:info at bulls.co.zw> 

 

 

Dear Subscriber,

 

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

7,611,522.31

29,656,084.19

6,097,585.39

31,158,622.32


Total Number of Bids Received

936

410

970

521


Number of Bids Disqualified

71

33

71

50


Total Number of Bids Accepted

865

377

899

471


Number of Bids Allotted

778

355

899

471


Amount Allotted

7,209,867.35

28,632,570.60

6,097,585.39

31,158,622.32


Highest Rate Received

145.0000

145.0000

137.0000

140.0000


Lowest Bid Rate Received

-

-

		

Lowest Bid Rate Allotted

125.5800

127.0000

120.0000

121.0000

					

Weighted Average Rate

130.1567

2.0516%

127.4864

	

 

				

Purpose

SME Auction

Allotments

Main Auction

Allotments

SME Auction

Allotments

Main Auction

Allotments


 

USD

USD

USD

USD


Raw Materials 

1,782,463.49

11,787,591.18

1,578,543.58

11,947,345.97


Machinery & Equipment 

2,229,658.99

7,085,195.79

1,929,616.29

7,879,063.04


Consumables  

1,148,388.18

1,896,608.79

1,033,569.71

2,420,070.99


Pharmaceuticals & Chemicals

751,761.21

1,670,724.91

521,512.26

2,943,223.88


Services 

684,521.55

3,664,142.68

616,198.12

3,793,314.52


Retail & Distribution 

29,519.00

50,000.00

27,999.04

0.00


Fuel, Electricity & Gas 

424,077.57

1,572,392.12

240,630.98

1,363,318.15


Paper & Packaging 

159,477.36

905,915.13

149,515.41

812,285.77


Total 

7,209,867.35

28,632,570.60

6,097,585.39

31,158,622.32


 

				

Grand Total Awarded

35,842,437.95

-3.79%

37,256,207.71

	
						
						

Harare- The Zimbabwe dollar weakened by a further 2.1% to  ZWL130.1567 to
the greenback as the parallel market held in the 220-230 resulting in the
premium clawing back to 69%-77% from a high of almost 90% at some stage.

 

There is risk to the allocations that may emanate from spike in import bills
for grain owing to erratic rains as well as coming from increase oil prices
in the short term.

 

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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