Official And Black Market Exchange Rates

Nostro USD/USD Notes	8%
Nostro USD/ZWL Notes	$62.00
USD / ZWL$ ZIPIT/Bank	$115.00
USD / ZWL$ Swipe	$108.00
USD / ZWL$ OneMoney	$98.00
USD / ZWL$ Ecocash	$95.00
USD / BOND* or ZWL Cash	$90.00
USD / BOND* (USD1 Notes)**	$90.00
USD / BOND* or ZWL Cash	$85
USD / ZWL$ RBZ Average Rate	$81.8151

• *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 $90-100 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
• The OMIR is cited for historical purposes only. The RBZ and Finance Ministry killed fungibility on the ZSE.

Last updated 25 November 2020 07:45 hours

24 November Auction Summary

Details	SME Auction Number 17	Main Auction Number 24
Amount Allotted	US$2 324 864.48	US$30 630 562.31
The Highest Rate	86.0000	88.3300
The Lowest Rate	80.0000	80.0000
Lowest Accepted Rate	80.0000	80.0000
Total Bids Accepted	US$2 324 864.48	US$30 630 562.31
Number of Bids Received	181	289
Number of Accepted Bids	166	268
Number of Bids Disqualified	15	21

24 November Official Auction Breakdown of Allotted Funds

Purpose	Amount Allotted SME Auction (US$)	Amount Allotted Main Auction (US$)
Raw Materials	627 543.76	13 388 111.44
Machinery and Equipment	488 162.79	6 158 604.61
Consumables (incl Spare, Tyres, Electricals)	437 479.62	2 651 123.89
Pharmaceuticals and Chemicals	85 396.28	1 043 660.49
Services (Loans, Dividends, Disinvestments, etc)	190 567.68	2 367 928.69
Retail and Distribution (Incl. Food, Beverages, etc)	253 443.97	2 581 077.85
Fuel, Electricity and Gas	159 613.40	1 813 171.82
Paper and Packaging	85 396.28	626 883.52
Total	2 324 864.48	30 630 562.31

• A Grand Total of US$32 955 426.79was allotted this week
• This is the highest allocation ever since the auction system began
• The Zimbabwean dollar marginally lost value again this week
• 23 main auctions and 17 SME auctions have now been held 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, as well as other fungible shares, are now suspended indefinitely this means OMIR values cannot be easily updated
• 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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