{"id":84624,"date":"2023-10-11T06:49:01","date_gmt":"2023-10-11T04:49:01","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction"},"modified":"2023-10-11T10:11:15","modified_gmt":"2023-10-11T08:11:15","slug":"zwl-slightly-weakens-by-0-75-on-the-rbz-auction","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction","title":{"rendered":"ZWL slightly weakens by 0.75% on the RBZ Auction"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>THE ZWL slightly weakened by 0.75% on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction this week on the back of a significant amount of foreign currency allotted to the country\u2019s key economic productive sectors.<\/p>\n

A trading update released at the close of business Tuesday shows that the exchange rate depreciated to US$1: ZWL 5 633 down from the premium of ZWL5 591 recorded last week to signify a 0.75% decline.<\/p>\n

Accordingly, traders are allowed to peg the US$ at a high of ZW$6 196 after factoring in the -\/+ 10% below or above the official exchange rates.<\/p>\n

At that premium, the rates remain relatively stable as they are maintaining a close gap behind the parallel market rates where premiums of US$1: ZW$ 6 500 are being paid out for ordinary trades. However, some players in the alternative market are pegging the premiums higher than the aforementioned peg largely dependent on demand pull factors.<\/p>\n

Meanwhile, trades on the Wholesale Auction platform where banks purchase foreign currency for onward sales to their clients received a total of 17 bids which were allotted US$18,1 million which is below the US$20 million amount on offer.<\/p>\n

Market watchers believe that such a trend signifies that the levels of liquidity in the market are still under control as the Auction\u2019s available foreign currency is not purchased entirely.<\/p>\n

On the Retail Auction platform, a total of US$1,86 million was allotted, out of which Raw Materials took up US$552 534, machinery and equipment US$468 099, consumables US$209 539, services US$323 296, retail and distribution US$175 616 among others.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. THE ZWL slightly weakened by 0.75% on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction this week on the back of a significant amount of foreign currency allotted to the country\u2019s key economic productive sectors. A trading update released at the close of business Tuesday shows that the exchange rate depreciated […]<\/p>\n","protected":false},"author":84,"featured_media":84623,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,19],"class_list":["post-84624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nZWL slightly weakens by 0.75% on the RBZ Auction - zimbabwe<\/title>\n<meta name=\"description\" content=\"THE ZWL slightly weakened by 0.75% on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction this week on the back ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ZWL slightly weakens by 0.75% on the RBZ Auction\" \/>\n<meta property=\"og:description\" content=\"THE ZWL slightly weakened by 0.75% on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction this week on the back ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-11T04:49:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-11T08:11:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/10\/sm_1696995459.218458.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"498\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"ZWL slightly weakens by 0.75% on the RBZ Auction\",\"datePublished\":\"2023-10-11T04:49:01+00:00\",\"dateModified\":\"2023-10-11T08:11:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction\"},\"wordCount\":269,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/10\/sm_1696995459.218458.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zwl-slightly-weakens-by-0-75-on-the-rbz-auction\",\"name\":\"ZWL slightly weakens by 0.75% on the RBZ Auction - 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