Business Reporter
THE Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction’s weekly allotments has disbursed US$19,2 million with a huge chunk of it going towards raw materials and economic productivity stimulation efforts.
A trading update released at the close of business Tuesday shows that on the Wholesale Auction platform where banks purchase foreign currency for onward selling to their clients disbursed US$17,7 million leaving a surplus of US$2,3 million from the amount of US$20 million placed on offer.
On the SME platfrom, a total US$1,56 million was disbursed to support a number of companies in the budding.
Accordingly ,Raw Materials needs were supported ton the tune of US$569 417 ,Machinery and Equipment US$402 144, Consumables US$250 058, Services US$122 696, Retail and Distribution US$141 160, Pharaceuticals and Chemicals US$51 817, Paper and Packaging US$31 203
The official rate of the day reached US$1:ZWL 5 903 being a sustained stable premium on the Auction for quite some time now.
