RBZ weekly auction allotments hit US$37,5 million
Business Reporter
THE Reserve Bank of Zimbabwe (RBZ) weekly allotments reached a total US$37,5 million with priority being sustained towards supporting key productive needs of the economy.
A trading update released at the close of business shows that SME Auction received 798 bids with worth of US$7,6 million but however US$6,9 million was allotted with highest bidding rates reaching $135 received and a low of $115
Raw materials allotted US$1,8 million, machinery and equipment US$2,2 million, consumables US$876 554,Services US$916 491, Retail and distribution US$568 363, electricity $20 620,phamaceuticals and chemicals US$353 407, Paper and packaging US$158 511.
The total sum allotted on the platform was US$6,9 million.
On the Main Auction, 451 bids were approved with raw materials being allotted US$11,8 million ,machinery and equipment US$7,9 million, consumables US$3,5 million, services US$1,6 million , retail and distribution US$3,2 million, pharmaceuticals US$1,3 million.
The total allotted US$30,1 million and the two auctions combined , a grand total of US$37,5 million was allotted on the two platforms.
Te official rate declined to US$1 :$118,87 down from US$1:$116,65 recorded last week, a figure representing a 1,9% decline.
Although a bit higher than the official market rates, parallel market premiums have been relatively stable over the last two weeks with premiums ranging between US$1:$200 up to a high of US$1:$240.
