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Reserve Bank of Zimbabwe Governor Dr John Panonetsa Mangudya has exclusively revealed to TechnoMag that a total of US$11,496,730.86, up from US$10,600,227.09 that was allotted yesterday to various sectors at last week’s RBZ foreign currency auction.
Dr Mangudya said, “The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.”
Mangudya added that, “The total amount allotted for the Small to Medium Enterprises Forex Auction (SMEFX111/2022) was US$1,121,380.58 up from USD1,062,029.45 allotted last week.”
The Governor said the, “Total amount allotted on the Main Forex Auction (MAIN FX117/2022) was US$10,375,350.28 down from US$USD10,637,610.97 allotted last week.”
Mangudya added that, “1. Bids with overdue CD1s, outstanding Bills of Entry (BOEs), insufficient ZWL 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 at 28 October 2022 was ZW$632.7703.”
The Governor made it pot and clara the Weighted Average Rate is 634.2539.
This is How the money was allocated:
Raw Materials………………………………………………………………..US$4,333,879.27
Machinery and Equipment………………………………………………US$2,592,507.19
Consumables (Incl. Spares, Tyres, Electricals, etc)………………US$853,228.67
Services (Loans, Education, Dividends, Disinvestments, etc)…US$2,484,555.16
Retail and Distribution (Incl. Food, Beverages, etc) ……………..US$772,939.83
Electricity Pharmaceuticals and Chemicals …………………………US$315,355.66
Paper and Packaging …………………………………………………………US$144,265.08
TOTAL Amount allotted for the SMEFX111/2022 …………. US$1,121,380.58
TOTAL Amount allotted for the MAIN FM117/2022 …… US$10,375,350.28
GRAND TOTAL AWARDED ……………………………. US$11,496,730.86
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