peter
Business Reporter
A TOTAL of US$46 million was allotted this Tuesday at the Reserve Bank of Zimbabwe’s weekly foreign currency auction platform conducted yesterday.
The bulk of the allotment was channelled towards raw material procurement followed by machinery and equipment, said the RBZ in a latest report.
A total of US$8,7 million was allocated to the Small to Medium Enterprises auction against US$37,3 million that was allocated to the main auction.
The main auction received a total of 402 bids from which 370 were accepted while 32 were disqualified.
The SMEs auction received 588 bids with 544 accepted and 44 disqualified.
The Zimbabwe dollar has slightly weakened to 85,63 against the United States dollar. Last Tuesday, the exchange rate at the auction was $85.50.
Online Reporter