Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya conducted the latest foreign currency exchange auction whereby the central bank Governor allotted a total of US$13.66 million to various sectors at this week’s RBZ auction.
Speaking exclusively to TechnoMag, Governor Mangudya said, “The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
“245 bids were received on the Small to Medium Enterprises Forex Auction, with 230 accepted and 15 disqualified. The total amount allotted was USD2,099,695.45 down from the USD2,196,092.29 allotted last week.
Dr Mangudya added that, “On the Main Forex Auction, a total of 103 bids were received, 100 were accepted and 3 were disqualified. The total amount allotted was USD11,562,566.29 down from USD13,429,628.61 allotted last week.
Mangudya also made it pot and clara to TechnoMag that,
“1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZW$ and those with sufficient FCA balances were also disqualified.
2. Some Bids were allotted on a pro-rata basis.
3. Willing buyer Willing Seller Bid Rate as of 9 September 2022 was ZW$568.1885.”