Nostro USD/USD Notes8%
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

DetailsSME Auction Number 17Main Auction Number 24
Amount AllottedUS$2 324 864.48US$30 630 562.31
The Highest Rate86.000088.3300
The Lowest Rate80.000080.0000
Lowest Accepted Rate80.000080.0000
Total Bids AcceptedUS$2 324 864.48US$30 630 562.31
Number of Bids Received181289
Number of Accepted Bids166268
Number of Bids Disqualified1521

24 November Official Auction Breakdown of Allotted Funds

PurposeAmount Allotted SME Auction (US$)Amount Allotted Main Auction (US$)
Raw Materials627 543.7613 388 111.44
Machinery and Equipment488 162.796 158 604.61
Consumables (incl Spare, Tyres, Electricals)437 479.622 651 123.89
Pharmaceuticals and Chemicals85 396.281 043 660.49
Services (Loans, Dividends, Disinvestments, etc)190 567.682 367 928.69
Retail and Distribution (Incl. Food, Beverages, etc)253 443.972 581 077.85
Fuel, Electricity and Gas159 613.401 813 171.82
Paper and Packaging85 396.28626 883.52
Total2 324 864.4830 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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