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RBZ Allots US$24.8 Million For This Week

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Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya at this week’s RBZ foreign currency auction conducted on Tuesday, 21 June 2022, allotted a total of US$24.8 million.

The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.

Governor Mangudya said, “770 bids were received on the Small to Medium enterprises forex auction, with 698 accepted and 72 disqualified. The total number of bids allotted was 688.

“On the main forex auction, a total of 279 bids were received, 257 were accepted and 22 were disqualified. The total number of bids allotted was 254.”

Mangudya said, “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.

SMEFX93/2022 MAIN FX99/2022
Number of Bids Received : 770 279
Number of Bids Disqualified : 72 22
Total Number of Bids Accepted : 698 257
Total Number of Bids Allotted : 688 254
Total Value of Bids Accepted : USD3,532,866.47 USD21,534,506.41
Amount Allotted : USD3,489,505.04 USD21,408,737.57
Highest Rate Received : 375.0000 375.0000
Lowest Bid Rate Allotted : 330.0000 330.0000
Weighted Average Rate : 352.0626
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 957,593.45 10,702,657.11
Machinery and Equipment 1,232,585.88 5,147,821.43
Consumables (Incl. Spares, Tyres, Electricals, etc) 374,354.35 1,119,943.76
Services (Loans, Education, Dividends, Disinvestments, etc) 309,683.41 1,306,746.74
Retail and Distribution (Incl. Food, Beverages, etc) 267,646.08 1,575,999.13
Electricity 0 59,485.00
Pharmaceuticals and Chemicals 176,963.70 1,088,300.65
Paper and Packaging 170,678.17 407,783.75
TOTAL 3,489,505.04 21,408,737.57
GRAND TOTAL AWARDED 24,898,242.61

ross moyo

Zwl Falls To US$1: ZWL$ 352.0626 From US$1: ZWL$338.4921

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