RBZ weekly Auction allotments hit US$25,5 million

Business Reporter

THE Reserve Bank of Zimbabwe (RBZ) Auction platform this week sustained productivity priority allotting a total US$25,5 million to bolster productivity.

The latest trading update shows that on the Main Auction platform, the number of bids received were 263 out of which 235 were accepted.

A bias towards productivity stimulation was sustained with raw materials receiving US$11 million, machinery and equipment US$3,5 million, consumables US$1,8 million, services US$1,6 million, Retail and distribution US$1,4 million, pharmaceuticals and chemicals US$954 924, paper and packaging US$630 079.

A total amount of US$21,1 million was allotted on the platform.

On the Small to Medium Enterprises platform, 613 bids were accepted with raw materials receiving US$1 million, machinery and equipment US$1,6 million, consumables US$583 152, Services US$376 205, retail and distribution US$385 571, pharmaceuticals and chemicals US$193 117, paper and packaging US$ 115 257.

The official exchange rate reached US$1:ZW$308,52 with a grand total of US$25,5 million being allotted on the two platforms.  

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