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*RBZ Foreign Exchange Auction Allotments For December 2023 | Full Text*

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The Reserve Bank of Zimbabwe (RBZ) has revealed the Foreign Exchange Auction Allotments and Foreign Exchange Payments for December 2023. A statement issued by the central bank reads:

> FOREIGN EXCHANGE AUCTION ALLOTMENTS AND FOREIGN EXCHANGE PAYMENTS FOR DECEMBER 2023

> 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$3 909 195 was allotted to 228 beneficiaries under the Retail Foreign Exchange Auction during the month of December 2023 and the sum of US$12 830 473 was allotted to 263 beneficiaries under the Wholesale Foreign Exchange Auction during the month of December 2023.

> 2. Total foreign exchange payments for December 2023 were US$685 413 107 broken down as follows: –

> (i) foreign currency accounts (US$651 028 674);
(ii) Foreign Exchange Auction Allotments (US$16 739 668); and
(iii) the interbank market (US$17 644 765).

> 3. The bulk of the retail auction allotments during the month of December 2023 (58%) was for payment for raw materials (US$1 489 281) and machinery and equipment (US$763 311), with the remaining 42% of the total allotments going towards payment for services (US$474 514), consumables (US$556 276), retail and distribution (US$129 617), pharmaceuticals and chemicals (US$399 609), and manufactured goods (US$96 587).

> 4. Total cumulative foreign exchange auction allotments since the inception of the Foreign Exchange Auction System in June 2020 stand at US$4 120 819 400.

> 5. Details of beneficiaries and sums allotted can be accessed on the Bank’s website, www.rbz.co.zw.

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