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The Zimbabwe dollar moved steadily against the greenback at yesterday’s Reserve Bank of Zimbabwe (RBZ) Forex Auction with the Zimbabwe Dollar Official Rate As Of 01 November 2022 now at 634.
Even though, the Zimbabwe dollar depreciated in value slightly against the US dollar according to the results of the official foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya. The weighted average rate moved to US$1: ZWL$634.2539.
Only Last week, the foreign exchange weighted average rate was US$1: ZWL$632.1371.
Also 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.
♦ Weighted Average Rate 634.2539
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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