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RBZ Allots USD$46.87 Million, USD$600K Up From Previous Auction

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Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya has said a total, US$46.87 million was allotted at this week’s forex auction, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is up from the US$46.2 million  allotted last week.

Governor Mangudya said, ”This week, US$11.08 million was allocated to the Small to Medium Enterprises forex auction while US$35.79 million was allocated to the main forex auction.”

Mangudya added that, ”1 283 bids were received on the Small to Medium enterprises forex auction, with 1 238 accepted and 45 disqualified. The total number of bids allotted was 1 238.”

The Governor’s office went on to emphasize that, ”On the main forex auction, a total of 732 bids were received, 631 were accepted while 101 were disqualified. The total number of bids allotted was 631.”

RBZ Governor Dr. Mangudya said bids that were disqualified were not eligible in terms of the Priority List Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.

Number of Bids Received 1283 732
Number of Bids Disqualified 45 101
Total Number of Bids Accepted 1238 631
Total Number of Bids Allotted 1238 631
Total Value of Bids Accepted : USD11,081,207.54 USD41,737,520.60
Amount Allotted : USD11,081,207.54 USD35,792,885.54
Highest Rate Received : 115.0000 115.0000
Lowest Bid Rate Received : 96.0000 97.1400
Lowest Bid Rate Allotted : 96.0000 97.1400
Weighted Average Rate : 99.9301

 

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