Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya Allotted most of the money from yesterday’s forex auction to raw materials.
36,7 Million was allotted in total with machinery and equipment coming second and third in the size of allocations.
The allotment was slightly lower by half a million United States dollars compared to US$37.2 million allotted last week.
Dr Mangudya revealed to this publication that “936 bids were received on the Small to Medium enterprises forex auction, with 839 accepted and 97 disqualified.”
Mangudya revealed that, “The total number of bids allotted was 776.On the main forex auction, a total of 538 bids were received, 485 were accepted and 53 were disqualified. The total number of bids allotted was 394.”
In a statement released by the RBZ boss, Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
SMEFX76/2022 MAIN FX82/2022
Number of Bids Received : 936 538
Number of Bids Disqualified : 97 53
Total Number of Bids Accepted : 839 485
Total Number of Bids Allotted : 776 394
Total Value of Bids Accepted : USD7,711,548.81 USD36,033,474.97
Amount Allotted : USD7,214,768.53 USD29,581,020.42
Highest Rate Received : 137.0000 140.0000
Lowest Bid Rate Allotted : 120.0000 122.0000
Weighted Average Rate : 124.0189
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 130,438.48 12,073,964.75
Machinery and Equipment 3,393,868.67 7,337,379.27
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,905,771.90 2,821,117.03
Services (Loans, Education, Dividends, Disinvestments, etc) 713,215.69 1,602,944.17
Retail and Distribution (Incl. Food, Beverages, etc) 559,499.28 3,325,877.60
Electricity 28,752.39 0.00
Pharmaceuticals and Chemicals 267,363.94 1,334,242.46
Paper and Packaging 215,858.18 1,085,495.14
TOTAL 7,214,768.53 29,581,020.42
GRAND TOTAL AWARDED 36,795,788.95