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Mangudya allots US$38.8 million this week

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Mangudya allots US$38.8 million this week

In his 63rd foreign currency auction, Governor of the apex bank , Reserve Bank of Zimbabwe Dr John Mangudya allotted a total, US$38.8 million this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

1082 bids were received on the Small to Medium enterprises forex auction, with 1023 accepted and 59 disqualified.

On the main forex auction, a total of 443 bids were received, 410 were accepted while 33 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.

 

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Mangudya hits 63rd RBZ Forex Auction with US$1: ZWL$86.9267

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