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*RBZ Forex Auction: Zimbabwe Dollar Further Drops Against USD* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?bk The Zimbabwe dollar continued to shed value against the USD according to results from the Reserve Bank of Zimbabwe (RBZ)’s foreign exchange auction. Results from the Tuesday, 11 May 2021 RBZ forex auction show that the weighted average fell slightly from US$1: ZWL$84.5282 last week to US$1:ZWL$84.6140 this week. ---------- itel A70 256GB $99USD WhatsApp: https://wa.me/+263715068543 Calls: 0772464000 ---------- This week US$5 million was allocated to the Small to Medium Enterprises forex auction while US$37 million was allocated to the main forex auction. In total, US$42 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. 382 bids were received on the Small to Medium enterprises forex auction, with 335 accepted and 47 disqualified. On the main forex auction, a total of 362 bids were received, 329 were accepted while 33 were disqualified. The Reserve Bank of Zimbabwe (RBZ) said bids that were disqualified were not eligible in terms of the Priority List. Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified. Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said. PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION Raw Materials 1,193,446.14 16,412,069.18 Machinery and Equipment 1,327,093.83 6,507,907.31 Consumables (Incl. Spares, Tyres, Electricals, etc) 1,097,024.55 3,344,573.54 Services (Loans, Education, Dividends, Disinvestments, etc) 338,693.52 3,166,705.23 Retail and Distribution (Incl. Food, Beverages, etc) 454,994.39 2,480,283.20 Fuel, Electricity and Gas 157,948.86 1,446,674.21 Pharmaceuticals and Chemicals 295,113.59 2,087,994.87 Paper and Packaging 224,770.33 1,090,274.88 TOTAL 5,089,085.21 36,536,482.42 GRAND TOTAL AWARDED 41,625,567.63 More: Pindula News _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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