Home Business RBZ publishes list of Forex Auction allotments and payments

RBZ publishes list of Forex Auction allotments and payments

Zimbabwe to ban firms from forex auctions over ‘rampant abuse’

RBZ publishes list of Forex Auction allotments and payments.

The central bank said that the release of the information is in line with the Bank’s commitment to regularly keep the public informed of developments in the foreign exchange market.

The Reserve Bank of Zimbabwe has published the Foreign Exchange Auction Allotments for April 2022 and Foreign Exchange Payments for the period from January to April 2022. The RBZ released a list of the 749 beneficiaries of US$107 801 206 allotted under the Main Foreign Exchange Auction during the month of April 2022.

The Bank also published the list of the 2 142 beneficiaries of US$17 850 257 allotted under the SMEs Foreign Exchange Auction during the month of April 2022. The RBZ added:

A schedule showing the total foreign exchange payments for the period January 2022 to April 2022, by source, amounting to US$2 440 874 016 broken down as follows: –

(i) foreign currency accounts (US$1 854 284 195),

(ii) Foreign Exchange Auction Allotments (US$528 126 996); and

(iii) the interbank market (US$58 462 825).

The bulk of the auction allotments during the month of April 2022 (68%) was for payment for raw materials (US$55 369 119) and machinery and equipment (US$30 688 074), with the remaining 32% of the total allotments going towards payment for retail and distribution (US$10 713 036), consumables (US$10 366 460), services (US$9 133 409), pharmaceuticals and chemicals (US$5 574 526), packaging (US$3 617 236) and fuel, electricity and gas (US$189 604), as shown in the tables below.

Total cumulative foreign exchange auction allotments since the inception of the Foreign Exchange Auction System stand at US$3 124 507 809.

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Source – Pindula News

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