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US$41,1 Million Allotted To Forex Auction

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The apex bank Reserve Bank of Zimbabwe Governor, Dr John Panonetsa Mangudya says a total, US$41.1 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.He was making reference to his 64th main foreign currency auction held yesterday and 61st SME auction where US$9.4 million was allocated to the Small to Medium Enterprises forex auction while US$32 million was allocated to the main forex auction.

In a statement, Dr Mangudya said, ”1236 bids were received on the Small to Medium enterprises forex auction, with 1180 accepted and 56 disqualified.”

”On the main forex auction, a total of 450 bids were received, 428 were accepted while 22 were disqualified.”

Governor Mangudya added that ”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.

Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ Governor said.

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