Techzim

Zimbabwe and regional technology news and updates

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RECHARGE


Businesses to face Z$50K fine for not accepting ZWL$ equivalent of US$ goods & services

Here are new regulations for forex use under SI 127 of 2021 which details penalties for businesses who infringe Foreign Exchange Act and Bank Use Act


Forex Auction results, Zim dollar gains again, rate now at 82.699

The Zim dollar has for the second week in a row appreciated slightly. This week’s Forex Auction results show that the median average is ZWL$82.6993 against last week’s rate of ZWL$83.3209. Last week’s climb was by ZWL$0.0785, and this week there is a slightly more substantial climb of ZWL$0.6216 when compared to last week. The […]


Foreign Exchange Auction, Zim dollar makes a marginal gain, rate at 83.32

The combined SMEs and Main Foreign Exchange Auction has concluded. This week the local currency made a marginal gain with weighted average sitting at ZWL$83.3209. Last week weighted average and effectively the rate sat at ZWL$83.3994 which is a very small uptick of ZWL$0.0785. This is the first time that there has been a bounceback […]


First-ever combined forex auction results are in, rate now at 82.56

The first-ever combined forex auction (SMEs and Grand Auction) results are in. The Reserve bank last week decided to merge the two auctions after what seemed to have been a test run of the SMEs Auction. The results are as follows: SME Auction #2 Main Auction #8 Amount Allotted USD789 866.02 USD17 981 174.01 Highest […]


Full Text: RBZ introduces a second forex auction for small to medium enterprises

One of the criticisms against the foreign currency auction introduced by Zimbabwe’s central bank some two months ago was that it was a big boys and gals club. The minimum amount of forex an entity could bid for in this auction was USD50,000. It looks as if the central bank seeks to correct that. Here […]


Forex Auction number 7, rate now at 80.47

This week’s foreign exchange auction has been completed and the results are as follows: Amount Allotted US$ 18 531 336.74 The Highest Rate ZWL$ 87.00 The Lowest Rate ZWL$ 70.00 The Lowest Bid Accepted Rate ZWL$ 78.00 Total Bids: US$ 19 773 961.25 Weighted Average Rate ZWL$80.4663 PURPOSE AMOUNT ALLOTTED Raw materials 7,566,099.30 Machinery and […]


RBZ forex auction round 5, rate now at 72.15

The fifth Foreign Exchange has been completed and the results are as follows: New rate is ZWL$72.147 The highest rate ZWL$82.17000 The lowest rate ZWL$55.00 The lowest accepted rate ZWL$70.00 Total bids amounted to US$20 316 153.74 Allotted amountUS$14 853 708.88 PURPOSE AMOUNT ALLOTTED US$ Raw Material 7 417 479.47 Machinery and Equipment 2 309 […]


Bankers Association of Zimbabwe has released a statement in support of the Forex Auction

The Bankers Association of Zimbabwe (BAZ), whose main mandate is to support the banking business of member banks, supports the Foreign Exchange Auction Trading System introduced by the Reserve Bank of Zimbabwe (RBZ) on 17 June 2020 and became operational with effect from 23 June 2020. The introduction of a Foreign Exchange Auction Trading System […]


Forex Auction number 4 results, rate now at 68.89

The fourth running of the Foreign Exchange Auction has been completed and the weighted average is ZWL$68.8879. An increase from last week’s ZWL$65.88. Which means the “official” rate is US$1 : ZWL$ 68.89 Bids: The Highest Rate ZWL$85.00 (down from last week’s ZWL$90.00) the Lowest Rate ZWL$40.00 (up from last week’s ZWL$30.00) Allotted Amount this […]


Foreign Exchange Auction results are in, “official” rate is 65.88

Foreign exchange auction results are in. The rate is sitting at US$1.00 to ZWL$65.8765 (rounded up to 65.88). The highest bid was ZWL$90.00 and the lowest was ZWL$30.00. The weighted average was ZWL$65.8765 an increase from last week’s ZWL$63.7. The amount allotted was US$13 602 407.84 a decrease from last week’s US$16 321 028.61. (The […]


ZERA releases new fuel prices

Following the Forex Auction giving Zimbabwe an Official Exchange rate of 1:57, ZERA has released fuel prices with effect from the 24th of June 2020. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash number: Buy Please dial our USSD code *405# on your phone to buy airtime because this […]