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*RBZ Foreign Auction Currency: Zimbabwe Dollar Continues To Lose Value* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?km The Zimbabwe dollar continued to shed value against the United States dollar as observed at today’s foreign currency auction conducted by the Reserve Bank of Zimbabwe (RBZ). The foreign exchange weighted average rate has fallen to US$1: ZWL$325.3314 from US$1: ZWL$308.5201 announced by the Reserve Bank of Zimbabwe (RBZ) last week. ---------- Latest itel S24 available on Pindula: 128GB storage $119 USD WhatsApp +263783450793 ---------- At this week’s RBZ foreign currency auction conducted on Tuesday, 07 June 2022, a total of US$25 million was allotted. The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week. 855 bids were received on the Small to Medium enterprises forex auction, with 753 accepted and 102 disqualified. The total number of bids allotted was 753. On the main forex auction, a total of 317 bids were received, 274 were accepted and 43 were disqualified. The total number of bids allotted was 274. The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified. Some bids were also allotted on a pro-rata basis. SMEFX91/2022 MAIN FX97/2022 Number of Bids Received : 855 317 Number of Bids Disqualified : 102 43 Total Number of Bids Accepted : 753 274 Total Number of Bids Allotted : 753 274 Total Value of Bids Accepted : USD4,269,142.30 USD20,665,498.04 Amount Allotted : USD4,269,142.30 USD20,665,498.04 Highest Rate Received : 350.0000 350.0000 Lowest Bid Rate Allotted : 295.0000 295.0000 Weighted Average Rate : 325.3314 PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION Raw Materials 1,279,708.33 11,493,062.61 Machinery and Equipment 1,597,956.90 3,665,882.99 Consumables (Incl. Spares, Tyres, Electricals, etc) 424,281.67 1,510,009.41 Services (Loans, Education, Dividends, Disinvestments, etc) 325,110.73 1,236,837.05 Retail and Distribution (Incl. Food, Beverages, etc) 312,977.80 947,019.68 Electricity 9,767.03 109,266.09 Pharmaceuticals and Chemicals 166,387.47 783,510.85 Paper and Packaging 152,952.37 919,909.36 TOTAL 4,269,142.30 20,665,498.04 GRAND TOTAL AWARDED 24,934,640.34 *More: Pindula News is best enjoyed via the App. Download it here* itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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