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RBZ Allots US$24.1 Million

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RBZ Allots US$24.1 Million

 

Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya at this week’s RBZ foreign currency auction conducted yesterday, 26 July 2022, allotted a total of US$24.1 million.

 

 

Mangudya reiterated that as usual, “The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.”

 

He added that, “704 bids were received on the Small to Medium Enterprises Forex Auction, with 640 accepted and 64 disqualified. The total number of bids allotted was 620.”

 

 

With the introduction of the Mosi-oa-Tunya gold coins expected to revive further the Economy, Mangudya said, “On the Main Forex Auction, a total of 236 bids were received, 223 were accepted and 13 were disqualified. The total number of bids allotted was 221.”

 

The RBZ Governor emphasized, “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.

 

SMEFX97/2022: MAIN FX103/2022

Number of Bids Received : 704 236

Number of Bids Disqualified : 64 13

Total Number of Bids Accepted : 640 223

Total Number of Bids Allotted : 620 221

Total Value of Bids Accepted : USD4,430,341.14 JSD19,865,492.03

Amount Allotted : USD4,321,097.28 USD19,787,360.03

Highest Rate Received : 500.0000 490.0000

Lowest Bid Rate Allotted : 398.0000 399.0000

Weighted Average Rate : 416.2890

PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION

Raw Materials 1,245,137.24 10,699,121.87

Machinery and Equipment 1,623,759.77 4,211,595.65

Consumables (Incl. Spares, Tyres, Electricals, etc) 471,701.87 1,370,024.51

Services (Loans, Education, Dividends, Disinvestments, etc) 430,799.05 1,594,852.38

Retail and Distribution (Incl. Food, Beverages, etc) 303,690.14 1,024,040.24

Electricity 0.00

Pharmaceuticals and Chemicals 125,599.67 660,457.97

Paper and Packaging 120,409.54 227,267.41

TOTAL 4,321,097.28 19,787,360.03

GRAND TOTAL AWARDED 24,108,457.31

ross moyo

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