Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya says last week, a total, US$46.2 million was allotted to the forex Auction with the bulk of the allotment going to raw materials followed by machinery and equipment. This is up from the US$40.7 million allotted last week.
Dr. Mangudya said, ”US$10 million was allocated to the Small to Medium Enterprises forex auction while US$36.2 million allocated to the main forex auction.”
The apex bank Governor added that, ”1334 bids were received on the Small to Medium enterprises forex auction, with 1267 accepted and 67 disqualified. The total number of bids allotted was 1253.”
On the main forex auction, a total of 659 bids were received, 608 were accepted while 51 were disqualified. The total number of bids allotted was 605.
The RBZ boss Dr Mangudya said 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.
Number of Bids Received :
Number of Bids Disqualified : 67 51
Total Number of Bids Accepted : 1267 608
Total Number of Bids Allotted : 1253 605
Total Value of Bids Accepted : USD10,192,606.45 USD36,223,877.51
Amount Allotted : USD 10,182,138.13 USD36,205,839.71
Highest Rate Received : 120.000 120.0000
Lowest Bid Rate Received : 95.0000 95,0000
Lowest Bid Rate Allotted : 96,0000 96,0000
Weighted Average Rate : 98.9821
PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION
Raw Materials 2,394,317.68 12,901,079.32
Machinery and Equipment 3,758,991.50 10,654,060.05
Consumables (Incl. Spares, Tyres, Electricals, etc) 1,434,640.59 3,359,302.18
Services (Loans, Education, Dividends, Disinvestments, etc) 1,173,402.01 2,201,160.30
Retail and Distribution (Incl. Food, Beverages, etc) 847,494.68 4,207,524.96
Fuel, Electricity and Gas 8,890.05 0
Pharmaceuticals and Chemicals 412,520.43 1,847,415.04
Paper and Packaging 151,881.19 1,035,297.86
TOTAL 10,182,138.13 36,205,839.71
GRAND TOTAL AWARDED 46,387,977.84