The willing seller willing buyer midrate is the official rate.
|USD / ZWL ZIPIT/Bank||1400|
|Black Market Sell Rate||1260|
|Black Market Buy Rate||1120|
|USD / ZWL Swipe||1400|
|USD / ZWL OneMoney||1300|
|USD / ZWL Ecocash||1300|
|USD / BOND or ZWL Cash||1200|
|USD / ZWL RBZ Auction Rate||915.1822|
|USD / ZWL Willing Buyer Willing Seller||915.1822Official|
|Maximum Rate Businesses Can Use||1006.70042|
|USD / ZWL Mosi oa Tunya Gold Coin Rate||945.8557|
|USD / ZWL Skrill||1400|
|USD / ZWL Bitcoin||1400|
Last Updated on Wednesday 22 March 2023 at 13:04:29 Central Africa Time
- If you need more rates involving the ZWL and currencies from other parts of the world you can see up-to-date rates involving the ZWL versus 190 rates here.
- The Gold Coin Rate is the rate at which gold coins are being sold in ZWL versus the USD price they are selling at on a given day
- On 8 May 2022 willing buyer willing seller rate became the official rate in Zimbabwe supplanting the Auction rate.
- Electronic transactions attract a tax of 2% this is known as the Intermediated Money Transfer Tax (IMT Tax)
- Businesses can use a rate that is within 10% of the prevailing willing-buyer willing-seller rate
- Our site is about informing you about the latest prices we have never dealt with, are not dealing and will never involve ourselves in black market deals.
Something important to note
NB Our rates are there to help you navigate and make sense of prices offered in some shops which either a high rate e.g. Tuckshops, Pharmacies or deduce the implied rate used by some shops to set their prices based on what they sell their products in USD for in their online stores and ZWL in brick and mortar stores. It should not be used as a guide to the black market.
This should not be used as some magical guide to the world of illicit foreign currency trading. We are more interested in the prices of various items than anything else and will continue to focus on that aspect.
Tuesday, 21 March 2023 Auction Summary
|Details||SME Auction 129||Main Auction 135|
|Amount Allotted||US$1 950 094.84||US$16 769 787.14|
|The Highest Rate||$1 010.00||$1 000.00|
|The Lowest Rate||$915.00||$915.00|
|Lowest Accepted Rate||$915.00||$915.00|
|Number of Bids Received||238||271|
|Number of Accepted Bids||229||266|
|Number of Bids Allotted||229||265|
|Number of Bids Disqualified||9||5|
Tuesday, 14 March 2023 RBZ Foreign Currency Allocations
|Purpose||Amount Allotted SME Auction (US$)||Amount Allotted Main Auction (US$)|
|Raw Materials||US$742 403.42||US$9 572 202.10|
|Machinery and Equipment||US$730 643.76||US$2 429 410.70|
|Consumables (Incl. Spares, Tyres, Electricals, etc)||US$206 857.61||US$1 101 088.97|
|Services (Loans, Education, Dividends, Disinvestments, etc)||US$206 857.61||US$1 101 088.97|
|Retail and Distribution (Incl. Food, Beverages, etc)||US$291 079.27||US$1 800 702.01|
|Pharmaceuticals and Chemicals||US$99 076.09||US$418 023.70|
|Paper and Packaging||US$53 054.87||US$847 153.50|
|TOTAL||US$2 530 187.62||US$17 289 752.50|
Highlights from the Tuesday, 21 March 2023 Auction
- A Grand Total of US$18,719,881.98 was distributed through the auction during the week of Tuesday, 21 March 2023, which is US$1,100,058.14 less than the US$19,819,940.12 distributed from the last auction on Tuesday, 14 March 2023
- Officially, the Zimbabwean dollar lost value by $2.5994ZWL as it moved from $912.5828 ZWL:1 USD to $915.1822 : 1 USD
- There have been 135 main auctions and 129 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 RBZ's priority list, the bidding company having what appears to be enough foreign currency in its account(s), 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.
- The data published by the RBZ shows that the bulk of forex trading takes place on the forex auction
- However, this market is not yet open to individuals who earn RTGS and are in need of forex for example:
- Individuals who want to pay their pay-TV subscriptions which are only payable in USD- in one year the RBZ provided that showed that almost US$100 million was being spent on this
- Individuals looking to pay fees for themselves or their children in foreign universities
- People who want to import vehicles and other goods and services for themselves
- Informal businesses whose import needs are not in line with the foreign currency priority list
Other Things to note
- 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.
Foreign Currency-Related News
Wages of those in the baking sector to be now based in USDAnalysis and Opinion, Market Intelligence, black market, black market rates, rbz
The Zimbabwean government has approved Statutory Instrument 22 of 2023, which includes changes to the […]...
Just like the ZWL, the ZSE is doomed tooAnalysis and Opinion, Market Intelligence, black market, black market rates
Not so long ago we talked about how the Zimbabwean dollar (ZWL) is not long […]...
Zimbabwean traders reject $20 ZWL noteAnalysis and Opinion, Market Intelligence, black market, black market rates, rbz
Over the past couple of weeks, we have seen more and more traders rejecting the […]...
ZIMSEC Grade 7 2023 Examination Fees: What You Need to KnowMarket Intelligence, 2023 examination fees, black market, black market rates, examination fees, grade 7, zimbabwe school examinations council, zimsec
The Zimbabwe Schools Examinations Council (ZIMSEC) has announced the fees for the 2023 Grade Seven […]...
Skyrocketing Inflation Rates in Zimbabwe: A Closer Look at January 2023 FiguresAnalysis and Opinion, black market, black market rates, inflation
Zimbabweans are grappling with the harsh reality of skyrocketing inflation rates that have taken the […]...
Competing Regional Manufacturers Fishing for US Dollars in Zimbabwe MarketMarket Intelligence, black market, black market rates, dollarisation
According to Charles Msipa, Managing Director of Schweppes Zimbabwe Limited (SZL), the rapid dollarization of […]...