The official rate changes on a weekly basis while the unofficial rates can change anytime.

Nostro USD/USD Notes10%
Nostro USD/ZWL Notes$105
USD / ZWL$ ZIPIT/Bank^$142.00
USD / ZWL$ Swipe***$142.00
USD / ZWL$ OneMoney$120.00
USD / ZWL$ Ecocash$120.00
USD / BOND* or ZWL Cash$120.00
USD / BOND** or ZWL Cash (USD1 Notes)$120.00
USD / ZWL$ RBZ Average Rate$85.2455
USD / ZWL$ Skrill138.00
USD / ZWL$ Bitcoin148.00
USD/USD Skrll1.02-1.05
USD/USD Bitcoin1.07-1.15
Rand/ZWL OneMoney & EcocashR140: 1250 ZWL
Rand/ZWL ZWL CashR140: 1200 ZWL
Rand/USD You buying Rand using USD13.80: 1 USD
Rand/USD You buying USD using Rand14:00: 1 USD

Last updated 16 June 2021 14:35 hours

  • *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 $120 ZWL cash per 1 USD but when you sell on the streets you will likely only get about $ 110 ZWL
  • Our site is about informing you about the latest prices but we know people might also be interested in other rates so we have included both of them above
  • **Due to an acute change problem in the market $1 USD notes sometimes (but not always) sell a premium
  • *** Usually indicates the rate paid by dealers who deal with amounts of above US$100 and the implied rate used by shops when selling their wares. Small and middle dealers who interface with people in the streets pay the rate somewhere near that indicated by ^.
  • We have seen some people advertising to buy Nostro USD in exchange for Cash USD at a discount.
  • Even though Skrill has announced that it will close Zimbabwean accounts, Skrill balances are coveted by people who are into gambling and forex trading.
  • It’s not as coveted as Bitcoin which offers people the ability to move funds around away from the gaze of authorities. Bitcoin is also used in gambling and forex trading.

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.

How are implied rates calculated?

As already pointed out we are primarily interested in prices. So here is an example, of how we come up with the implied rates. The bulk of employed people in Zimbabwe are civil servants who earn RTGS. We pose as a person who wants to buy something in RTGS, walk into a pharmacy or shop which sells primarily in USD. There is an item x selling for US$1 and we ask for the RTGS price.

The cashier pulls out their giant business calculator or enters a mysterious code into their system. And a few moments later, you are told a price. This usually goes along the lines of “If you are paying using Swipe/ZIPIT you will have to pay $125 ZWL.” When we get home we pull out our own calculators and attempt to come up with the rate that was used.

15 June 2021 Auction Summary

DetailsSME Auction Number 44Main Auction Number
50
Amount AllottedUS$7 934 235.31US$38 979 127.69
The Highest Rate90.000090.0000
The Lowest Rate82.000082.0000
Lowest Accepted Rate82.000082.0000
Total Bids AcceptedUS$7 934 235.31US$38 979 127.69
Number of Bids Received546451
Number of Accepted Bids521397
Number of Bids Alloted521397
Number of Bids Disqualified2554

15 June Auction results and Forex Allocations

PurposeAmount Allotted SME Auction (US$)Amount Allotted Main Auction (US$)
Raw Materials1 844 866.4414 488 442.38
Machinery and Equipment1 983 854.148 093 703.75
Consumables (incl Spare, Tyres, Electricals)2 053 997.773 906 651.15
Services (Loans, Education, Dividends, Disinvestments, etc)631 633.352 303 990.07
Retail and Distribution (Incl. Food, Beverages, etc)580 585.473 446 719.93
Fuel, Electricity and Gas117 050.012 182 124.53
Pharmaceuticals and Chemicals397 982.973 616 210.02
Paper and Packaging324 265.16941 285.86
Total7 934 235.3138 979 127.69
  • A Grand Total of US$46 913 363.00 was distributed through the auction during the week of 1 June 2021
  • About US$46.9 million was disbursed through the auction compared to about US$34.8 million last week
  • Officially, the Zimbabwean dollar marginally lost value as it moved from US$1: $85.074 ZWL to US$1: $85.2455 ZWL this week
  • There have been 50 main auctions and 44 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.
  • 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

  • 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.
  • The RBZ banned Ecocash Cash-in and Cash-out and agents the primary means through which illegal traders by and sell foreign currency. This dampened the market and has driven the sellers even further underground. Thanks to these actions the Ecocash rate on the black market has remained closer to the cash rate as there is very little movement of funds in this arena.
  • 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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