Breaking NewsBreakingNewsBusinessTech-Business

RBZ Allots US$23.56 Million This Week

0

A total of US$23.56 million was allotted, at this week’s Reserve Bank of Zimbabwe (RBZ) foreign currency auction conducted yesterday Tuesday, 12 July 2022.

Reserve Bank of Zimbabwe Governor Dr John Panonetsa Mangudya said, “The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.”

The Governor added, “643 bids were received on the Small to Medium Enterprises Forex Auction, with 610 accepted and 33 disqualified. The total number of bids allotted was 601.”

On the Main Forex Auction, a total of 212 bids were received, 206 were accepted and 6 were disqualified. The total number of bids allotted was 206.

The RBZ Governor maintained, “Bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.”

Some bids were also allotted on a pro-rata basis.

SMEFX95/2022: MAIN FX101/2022
Number of Bids Received : 643 212
Number of Bids Disqualified : 33 6
Total Number of Bids Accepted : 610 206
Total Number of Bids Allotted : 601 206
Total Value of Bids Accepted : USD4,109,266.59 USD19,506,514.99
Amount Allotted : USD4,053,982.01 USD19,506,514.99
Highest Rate Received : 420.0000 424.0000
Lowest Bid Rate Allotted : 366.0000 368.6400
Weighted Average Rate : 391.5339
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,311,715.92 9,854,894.09
Machinery and Equipment 1,311,033.71 4,331,443.64
Consumables (Incl. Spares, Tyres, Electricals, etc) 473,074.74 1,259,342.76
Services (Loans, Education, Dividends, Disinvestments, etc) 429,228.96 1,211,749.42
Retail and Distribution (Incl. Food, Beverages, etc) 291,251.46 1,302,076.56
Electricity 4,737.84 0.00
Pharmaceuticals and Chemicals 175,165.41 701,125.19
Paper and Packaging 57,773.97 845,883.33
TOTAL 4,053,982.01 19,506,514.99
GRAND TOTAL AWARDED 23,560,497.00

ross moyo

ZWL Falls To US$1: ZWL$391.5339 From US$1: ZWL$ 379.2280

Previous article

Zim Lithium Secured By China’s US$300Million Investment Toward Vision 2030

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.