|Nostro USD/USD Notes||5.5%|
|Nostro USD/ZWL Notes||$80.00|
|USD / ZWL$ ZIPIT/Bank||$118.00|
|USD / ZWL$ Swipe||$116.00|
|USD / ZWL$ OneMoney||$108.00|
|USD / ZWL$ Ecocash||$106.00|
|USD / BOND* or ZWL Cash||$95.00|
|USD / BOND* (USD1 Notes)**||$100.00|
|USD / BOND* or ZWL Cash||$95|
|USD / ZWL$ RBZ Average Rate||$82.0833|
- *There is a difference between the rate that shops use for their calculations e.g. when you have to top up in ZWL notes (bond) versus the rate you will get by illegally selling USD on the streets
- For example, shops currently use a rate of $95-100 ZWL cash per 1 USD but when you sell on the streets you will only get about $85 ZWL
- This site is about prices hence the rate cited above
- **Due to an acute change problem in the market $1 USD notes are selling for a premium
Last updated 20 January 05:15 hours
19 January Auction Summary
|Details||SME Auction Number 23||Main Auction Number 29|
|Amount Allotted||US$2 875 202.48||US$32 474 342.83|
|The Highest Rate||87.0000||86.0000|
|The Lowest Rate||80.0000||80.0000|
|Lowest Accepted Rate||80.0000||80.0000|
|Total Bids Accepted||US$2 875 202.48||US$32 474 342.83|
|Number of Bids Received||228||289|
|Number of Accepted Bids||219||260|
|Number of Bids Disqualified||9||29|
19 January Auction results and Forex Allocations
|Purpose||Amount Allotted SME Auction (US$)||Amount Allotted Main Auction (US$)|
|Raw Materials||723 820.73||14 860 000.50|
|Machinery and Equipment||527 444.38||6 218 398.68|
|Consumables (incl Spare, Tyres, Electricals)||681 830.48||1 621 972.59|
|Services (Loans, Education, Dividends, Disinvestments, etc)||359 206.46||2 336 665.61|
|Retail and Distribution (Incl. Food, Beverages, etc)||180 481.80||2 336 665.61|
|Fuel, Electricity and Gas||163 003.96||3 451572.03|
|Pharmaceuticals and Chemicals||165 453.82||1 8333 334.58|
|Paper and Packaging||73 960.85||391 993.44|
|Total||2 875 202.48||32 474 342.83|
- A Grand Total of US$35349 545.31 was allotted this week
- Almost US$32.5 million was disbursed through the auction compared to US$35.8 million last week
- The Zimbabwean dollar remained relatively stable at US$1 : ZWL$82 this week
- 2 main auctions and 2 SME auctions have now been held since the beginning of the year. There have been 29 main auctions and 23 SME auctions since the auction system began
- The average rate is to be used with caution. Please read our explanation on why the rate is to be treated as a rough guide rather than used for internal calculations
- Reasons for disqualification include things like the need for the foreign currency not being on the priority list, the bidding company has what appears to be adequate foreign currency in their accounts, companies that seem like they are externalising etc.
- What all this means is that demand for foreign currency still far outstrips supply and
- Some people/entities who wanted foreign currency were not able to get it
- More often than not these entities find a way to get that foreign currency as failure is not an option.
Other Things to note
- The Zimbabwe Stock Exchange (ZSE) has resumed operations but Old Mutual shares are now not being traded on it.
- The new official rate is determined by an auction which is carried out once a week. The above official rate will last for a week after the auction.
- Weeks ago the RBZ banned Ecocash Cash-in and Cash-out, the primary means through which illegal traders by and sell foreign currency. This dampened the market and has driven the sellers even further underground.
- You can read our analysis of the latest FIU directive that promises to crack on illegal foreign currency dealer adverts on social media here
- We don’t illegally trade in foreign currency. This data is obtained from various sources including MarketWatch and WhatsApp groups based on what illegal traders are offering or asking for.
- There is an undeniable link between prices in Zimbabwe and the black market exchange rates which a lot of businesses, including retailers and manufacturers use to compute their prices.
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