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RBZ Allots USD 24,5Million At Forex Auction

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Reserve Bank Of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya at the foreign currency auction conducted on Tuesday, 14 June 2022, allotted a total of US$24.5 million.

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

Mangudya added that, “849 bids were received on the Small to Medium enterprises forex auction, with 722 accepted and 82 disqualified. The total number of bids allotted was 707.”

Mangudya said, “On the main forex auction, a total of 290 bids were received, 258 were accepted and 32 were disqualified. The total number of bids allotted was 258.”

The RBZ Governor added “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.

SMEFX92/2022 MAIN FX98/2022
Number of Bids Received : 849 290
Number of Bids Disqualified : 82 32
Total Number of Bids Accepted : 722 258
Total Number of Bids Allotted : 707 252
Total Value of Bids Accepted : USD3,642,701.09 USD21,635,580.55
Amount Allotted : USD3,399,345.72 USD21,124,292.41
Highest Rate Received : 365.0000 365.0000
Lowest Bid Rate Allotted : 320.0000 320.0000
Weighted Average Rate : 338.4921
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,049,423.15 12,017,258.17
Machinery and Equipment 1,268,280.56 3,934,339.14
Consumables (Incl. Spares, Tyres, Electricals, etc) 353,328.85 1,705,200.96
Services (Loans, Education, Dividends, Disinvestments, etc) 212,033.06 826,581.34
Retail and Distribution (Incl. Food, Beverages, etc) 248,441.83 1,223,673.03
Electricity 7,030.20 119,171.66
Pharmaceuticals and Chemicals 144,826.18 662,634.43
Paper and Packaging 115,981.89 635,433.68
TOTAL 3,399,345.72 21,124,292.41
GRAND TOTAL AWARDED 24,523,638.1.

ross moyo

Zimbabwe Dollar Now ZwL 338.4921:USD1 Shedding More Value At Forex Auction

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