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*RBZ Forex Auction Results – 08 March 2022* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?lk The local currency has further depreciated against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency (forex) auction conducted on Tuesday, 8 March 2022. This week the weighted average was US$1: ZWL$130.1567 down from the 1 March 2022 rate that stood at US$1: ZWL$127.4864. ---------- Latest itel S24 available on Pindula: 128GB storage, 4GB RAM $119 USD WhatsApp: +263715068543 Calls: 0772464000 Buy Online: https://www.pindula.co.zw/market/itel-s24-128gb-22-20240426142756795795/?s=wanews ---------- In total, US$35.8 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment, the same as last week. 936 bids were received on the Small to Medium enterprises forex auction, with 865 accepted and 71 disqualified. The total number of bids allotted was 778. On the main forex auction, a total of 410 bids were received, 377 were accepted and 33 were disqualified. The total number of bids allotted was 355. The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified. Some bids were also allotted on a pro-rata basis. Number of Bids Received : 936 410 Number of Bids Disqualified 71 33 Total Number of Bids Accepted : 865 377 Total Number of Bids Allotted : 778 355 Total Value of Bids Accepted : USD7,611,522.31 USD29,656,084.19 Amount Allotted : USD7,209,867.35 USD28,632,570.60 Highest Rate Received : 145.0000 145.0000 Lowest Bid Rate Allotted : 125.5800 127.0000 Weighted Average Rate : 130.1567 PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION Raw Materials 1,782,463.49 11,787,591.18 Machinery and Equipment 2,229,658.99 7,085,195.79 Consumables (Incl. Spares, Tyres, Electricals, etc) 1,148,388.18 1,896,608.79 Services (Loans, Education, Dividends, Disinvestments, etc) 751,761.21 1,670,724.91 Retail and Distribution (Incl. Food, Beverages, etc) 684,521.55 3,664,142.68 Electricity 29,519.00 50,000.00 Pharmaceuticals and Chemicals 424,077.57 1,572,392.12 Paper and Packaging 159,477.36 905,915.13 TOTAL 7,209,867.35 28,632,570.60 GRAND TOTAL AWARDED 35,842,437.95 *More: Pindula News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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