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*Zimbabwe Dollar Drastically Falls At RBZ Foreign Currency Auction 17 May 2022* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?tq The foreign exchange weighted average rate has fallen to US$1: ZWL$258.5404 from US$1: ZWL$173.2685 which was reported by the Reserve Bank of Zimbabwe (RBZ) on 3 May. At this week’s forex auction conducted on 17 May, a total of US$6.8 down from the US$26.8 million that was allotted. The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- 1 068 bids were received on the Small to Medium enterprises forex auction, with 1 015 accepted and 53 disqualified. The total number of bids allotted was 135. On the main forex auction, a total of 433 bids were received, 407 were accepted and 26 were disqualified. The total number of bids allotted was 50. 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. SMEFX88/2022 MAINFX94/2022 Number of Bids Received : 1068 433 Number of Bids Disqualified : 53 26 Total Number of Bids Accepted : 1015 407 Total Number of Bids Allotted : 135 50 Total Value of Bids Accepted : USD8,998,155.54 USD42,053,973.50 Amount Allotted : USD1,240,118.58 USD5,604,709.04 Highest Rate Received : 300.0000 299.0000 Lowest Bid Rate Allotted : 220.0000 220.000 Weighted Average Rate : 258.5404 PURPOSE AMOUNT ALLOTTED SME AUCTION AMOUNT ALLOTTED MAIN AUCTION Raw Materials 399,298.05 3,162,049.14 Machinery and Equipment 421,176.31 1,022,000.57 Consumables (Incl. Spares, Tyres, Electricals, etc) 152,356.57 199,557.09 Services (Loans, Education, Dividends, Disinvestments, etc) 118,337.19 303,837.41 Retail and Distribution (Incl. Food, Beverages, etc) 82,083.50 335,266.58 Electricity – – Pharmaceuticals and Chemicals 66,866.96 50,000.00 Paper and Packaging – 531,998.25 TOTAL 1,240,118.58 5,604,709.04 GRAND TOTAL AWARDED 6,844,827.62 *More: Pindula News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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