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US$41.74 Million Allotted At This Week’s RBZ Forex Auction

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The Reserve Bank of Zimbabwe (RBZ) Governor  Dr. John Panonetsa Mangudya this week, made a dip from last week after a mere US$5.52 million was allocated to the Small to Medium Enterprises (SME) forex auction while US$36.22 million was allocated to the main forex auction. In total, US$41.74 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.

This is down from the US$46.87 million allotted last week. This registered a decrease of US$5.13 million. It must be noted however categorically that US 5.56 million was less at the SME auction as last week the SME’s were allocated double US$11.08 million while US$35.79 million was allocated at yesterday’s main forex auction registering actually an increase of US$430 000.

881 bids were received on the Small to Medium enterprises forex auction, with 693 accepted and 188 disqualified. The total number of bids allotted was 693.

On the main forex auction, a total of 623 bids were received, 420 were accepted and 203 were disqualified. The total number of bids allotted was 420.

The RBZ said bids that were disqualified were not eligible in terms of the Priority List.

Number of Bids Received 881 623
Number of Bids Disqualified 188 203
Total Number of Bids Accepted : 693 420
Total Number of Bids Allotted : 693 420
Total Value of Bids Accepted : USD5,520,428.32 USD36,228,651.92
Amount Allotted : USD5,520,428.32 USD36,228,651.92
Highest Rate Received : 120.0000 120.0000
Lowest Bid Rate Received : 98.0000 99.0000
Lowest Bid Rate Allotted : 98.0000 99.0000
Weighted Average Rate : 105.6965

 

PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 1,405,954.73 17,774,247.85
Machinery and Equipment 1,922,137.75 8,131,714.77
Consumables (Incl. Spares, Tyres, Electricals, etc) 918,202.29 2,722,912.23
Services (Loans, Education, Dividends, Disinvestments, etc) 452,103.47 2,333,735.28
Retail and Distribution (Incl. Food, Beverages, etc) 444,542.24 2,392,568.40
Fuel, Electricity and Gas 16837.16 55,497.02
Pharmaceuticals and Chemicals 239,740.13 1,797,632.32
Paper and Packaging 120,964.55 1,020,344.05
TOTAL 5,520,482.32 36,228,651.92
GRAND TOTAL AWARDED 41,749,134.24

 

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