Zim Dollar Marginally Weakens Against US$ In The Latest Forex Auction Results

The Zimbabwe dollar has marginally lost against the greenback in the Forex auction results for 21 December 2020.

The weighted average this week marginally went up from ZWL$81.7368 last week to ZWL$ 81.7688 US$1.67 million was awarded to Small to Medium enterprises forex auction while US$27.91 million was awarded to the main forex auction.

In total, US$29.82 million was allotted this week the bulk of the allotment (US$13.3 million) going to raw materials. 129 bids were received on the Small to Medium enterprises forex auction, with 120 accepted and 9 disqualified.

On the main forex auction, a total of 237 bids were received, 227 were accepted while 10 were disqualified. The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List.

Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified. Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said.