Official And Black Market Exchange Rates

Nostro USD/USD Notes	8%
Nostro USD/ZWL Notes	$65.00
OMIR (See notes below)	$122.22
USD / ZWL$ ZIPIT/Bank	$112.00
USD / ZWL$ Swipe	$107
USD / ZWL$ OneMoney	$100.00
USD / ZWL$ Ecocash	$96.00
USD / BOND* or ZWL Cash	$100.00
USD / BOND* (USD1 Notes)**	$100.00
USD / BOND* or ZWL Cash	$85
USD / ZWL$ RBZ Average Rate	$81.4965

• *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 21 September 2020 07:40 hours

15 September Auction Summary

Details	Main Auction Number 14	SME Auction Number 8
Amount Allotted	US$1 224 857.29	US$30 414 189.63
The Highest Rate	86.0000	86.7000
The Lowest Rate	78.0000	78.0000
Lowest Accepted Rate	78.0000	78.0000
Total Bids Accepted	US$1 224 857.29	US$30 414 189.63
Number of Bids Received	117	301
Number of Bids Disqualified	22	35

22 September Official Auction Breakdown of Allotted Funds

Purpose	Amount Allotted SME Auction (US$)	Amount Allotted Main Auction (US$)
Raw Materials	376 244.21	13 561 794.59
Machinery and Equipment	210 272.02	5 726 110.84
Consumables (incl Spare, Tyres, Electricals)	228 453.11	2 737 206.45
Pharmaceuticals and Chemicals	62 527.00	1 522 098.10
Services (Loans, Dividends, Disinvestments, etc)	118 470.39	2 418 570.33
Retail and Distribution (Incl. Food, Beverages, etc)	187 532.30	2 344 658.71
Fuel, Electricity and Gas	39 000.00	1 656 886.95
Paper and Packaging	11 358.29	446 863.66
Total	1 224 857.29	30 414 189.63

• 14 main auctions and 8 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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