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RBZ Governor Allots US$22.92 Million

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RBZ Governor Allots US$22.92 Million

Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya at this week’s RBZ foreign currency auction conducted on yesterday, 19 July 2022, allotted a total of US$22.92 million.

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

“594 bids were received on the Small to Medium Enterprises Forex Auction, with 569 accepted and 25 disqualified. The total number of bids allotted was 550.”

Mangudya added that, “On the Main Forex Auction, a total of 214 bids were received, 206 were accepted and 8 were disqualified. The total number of bids allotted was 200.”

The RBZ Governor 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.

  • SMEFX96/2022: MAIN FX102/2022
    Number of Bids Received : 594 214
    Number of Bids Disqualified : 25 8
    Total Number of Bids Accepted : 569 206
    Total Number of Bids Allotted : 550 200
    Total Value of Bids Accepted : USD3,867,264.37 USD19,685,492.47
    Amount Allotted : USD3,762,731.31 USD19,161,542.54
    Highest Rate Received : 450.0000 442.0000
    Lowest Bid Rate Allotted : 382.0000 385.0000
    Weighted Average Rate : 403.4048
    PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
    Raw Materials 1,140,296.19 10,097,040.50
    Machinery and Equipment 1,388,815.64 3,897,765.28
    Consumables (Incl. Spares, Tyres, Electricals, etc) 419,958.82 1,089,414.52
    Services (Loans, Education, Dividends, Disinvestments, etc) 381,314.78 1,678,373.14
    Retail and Distribution (Incl. Food, Beverages, etc) 269,662.01 1,172,171.43
    Electricity 3,068.45
    Pharmaceuticals and Chemicals 89,833.90 477,217.61
    Paper and Packaging 69,781.52 749,560.06
    TOTAL 3,762,731.31 19,161,542.54
    GRAND TOTAL AWARDED 22,924,273.85
ross moyo

Zimbabwe Dollar Drops To ZWL$403.4048 from US$1: ZWL$391.5339

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