RBZ auction weekly allotments hit US$30,3 million

Business Reporter

THE Reserve Bank of Zimbabwe (RBZ) this week allotted US$30,3 million notable impact of recently announced  foreign currency liberalisation measures on the exchange rates market.

A trading update released at the close of business Tuesday shows that on the  Main Auction , 417 bids were received out of which , raw materials were allotted  US$12,4 million , machinery and equipment US$6,2 million, consumables US$1,7 million, services US$1,7 million retail US$2 million and pharmaceuticals US$1 million .

The total allotted on the main auction platform reached US$26 million.

On the SME Auction, a total 1 122 bids were received with a total value of US$4,2 million.

Raw materials on the platform were allotted US$1 million, machinery and equipment US$1,4 million, consumables US$489 801, services US$603 222, retail and distribution US$363 293, pharmaceuticals and chemicals US$184 609, paper and packaging US$135 306.

A grand total of US$30,3 million was allotted on the two platforms.

The official exchange rate closed the day at US$1 : ZW$155,14 up from US$1: ZW$145,87 recorded last week.

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