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*RBZ Says US$3.6 Billion Allotted Since Inception Of Auction System* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ov A total of US$3 620 180 870 has been allotted to businesses on the Reserve Bank of Zimbabwe’s foreign exchange auction since the inception of the system in 2020. In a statement seen by Pindula News, RBZ governor, John Panonetsa Mangudya said: *FOREIGN EXCHANGE AUCTION ALLOTMENTS FOR OCTOBER 2022 AND FOREIGN EXCHANGE PAYMENTS FOR THE PERIOD JANUARY TO OCTOBER 2022* > In line with its commitment to regularly keep the public informed of developments in the foreign exchange market, the Bank hereby advises that: – > 1. The sum of US$39 184 168 was allotted to 139 beneficiaries under the Main Foreign Exchange Auction during the month of October 2022 and the sum of US$4 665 995 was allotted to 296 beneficiaries under the SMEs Foreign Exchange Auction during the month of October 2022. > 2. Total foreign exchange payments for the period January 2022 to October 2022 were US$6 776 525 337 broken down as follows:- > (i) foreign currency accounts (US$5 600 214 629); > (ii) Foreign Exchange Auction Allotments (US$1 023 800 057); and > (iii) the interbank market (US$152 510 650). > 3. The bulk of the auction allotments during the month of October 2022 (67%) was for payment for raw materials (US$18 187 311) and machinery and equipment (US$11 283 105), with the remaining 33% of the total allotments going towards payment for consumables US$2 720 261), services (US$2 330 865), retail and distribution (US$1 199 247), pharmaceuticals and chemicals (US$7 709 204) and packaging (US$420 170). > 4. Total cumulative foreign exchange auction allotments since inception of the Foreign Exchange Auction System stand at US$3 620 180 870. > 5. Details of beneficiaries and sums allotted can be accessed on the Bank’s website, www.rbz.co.zw. *More Pindula News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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