“Official” ZW$ To US$ Rate Now At 63

Farai Mudzingwa Avatar

The second interbank auction was held earlier today and the ZW$:US$ is now at 1:63.7. The FX auction availed US$16.3 million this week, up from last week’s US$10 million.

The highest bid was ZW$92 and the lowest was ZW$37. The weighted average was ZW$63.7 up slightly from $57.3 we saw last week.

Again demand continues to outweigh supply; bidders wanted US$18.9m but the market only provided the aforementioned US$16.3m.

PurposeAmount alloted
Raw materials7 203 581
Consumables2 577 201
Food and beverages1 725 377
Agriculture1 050 389
Chemicals1 006 115
Medicals766 627
Machinery and equipment641 112
Services559 000
LPG Gas416 623
Other375 000
Total16 321 028

Also, check out our new Forex Rates page which contains the official rates, along with black market and Old Mutual Implied Rates. There’s also explains on that page with details on what the black market and OMIR are.

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