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USD$14,4 Million Allotted To Various Sectors – RBZ

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The Reserve Bank of Zimbabwe RBZ Governor has revealed that the central bank Allotted a total of US$14.14 million to various sectors at this week’s RBZ foreign currency auction.

Speaking to TechnoMag, Governor Mangudya explained the Central Bank’s committment to allotting industry as a whole especially the manufacturing and those that use raw materials for business.

Dr Mangudya said, “The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.

Mangudya revealed to this publication before going to publish that,
“1. Bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZW$ and those with sufficient FCA balances were also disqualified.

2. Some Bids were allotted on a pro-rata basis.

3. Willing buyer Willing Seller Bid Rate as of 2 September 2022 was ZW$545.2911.

Governor Mangudya added that, “345 bids were received on the Small to Medium Enterprises Forex Auction, with 341 accepted and 4 disqualified. The total amount allotted was USD2,659,595.81 down from 2 643 432.75 allotted last week.

“On the Main Forex Auction, a total of 119 bids were received, 111 were accepted and 8 were disqualified. The total amount allotted was USD11,489,204.90 down from USD12 681 789.09 allotted last week,” added the apex bank boss.

SME FX104/2022 MAIN FX110/2022
Number of Bids Received : 345 119
Number of Bids Disqualified : 4 8
Total Number of Bids Accepted : 341 111
Total Number of Bids Allotted : 288 99
Total Value of Bids Accepted : USD3,128,774.69 USD12,978,108.19
Amount Allotted : USD2,659,595.81 USD11,489,204.90
Highest Rate Received : 615,0000 630.0000
Lowest Bid Rate Allotted : 545.0000 545.0000
Weighted Average Rate : 580.1865
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 881,516.22 5,760,488.91
Machinery and Equipment 766,359.84 2,496,132.50
Consumables (Incl. Spares, Tyres, Electricals. etc) 294,407.16 875,799.93
Services (Loans, Education, Dividends, Disinvestments, etc) 393,672.24 1,368,718.37
Retail and Distribution (Incl. Food, Beverages, etc) 144,137.69 740,139.81
Electricity 10,000.00
Pharmaceuticals and Chemicals 130,203.79 200,092.27
Paper and Packaging 39,298.87 47,833.11
TOTAL 2,659,595.81 11,489,204.90
GRAND TOTAL AWARDED 14,148,800.71

ross moyo

ZimDollar Trades At US$1:ZWL$580 From Zwl$546

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