The Zimbabwe dollar this week lost value against the United States dollar on the foreign currency auction held by the Central Bank.
On 16 May 2023, the weighted average wasUS$1: ZWL$1,404.8039up fromUS$1: ZWL$1,212.5.8reported on 09 May 2023.
The central bank allotted a total ofUS$14,444,323.31 down from US$16,349 930.31, with the majority of the allotment going to raw materials, followed by machinery and equipment.
The amount allotted for the Small to Medium Enterprises Forex Auction wasUS$1,576,700.13down fromUS$2,280,785.72, while the Main Forex Auction was allottedUS$13,171,159.91down fromUS$16,772,580.66.
♦ Weighted Average Rate moved to 1,404.8039 up from 1,212.5.8.
How the money was allocated:
Raw Materials ………………………………………….(SME) US$350,687.48 …(MAIN) US$7,007,641.38
Machinery and Equipment ………………………….(SME) US$415,614.30 …(MAIN) US$1,926,117.50
Consumables (Incl. Spares, Tyres, Electricals, etc) …(SME) US$202,560.71 …(MAIN) US$1,001,696.74
Services (Loans, Education, Dividends, Disinvestments, etc) …(SME) US$100,494.32 ….(MAIN) US$983,240.01
Retail and Distribution (Incl. Food, Beverages, etc) …(SME) US$125,715.23 …(MAIN) US$1,514,194.61
lubricants Pharmaceuticals and Chemicals ….(SME) US$62,647.17 …(MAIN) US$341,262.52
Paper and Packaging ……………………………..(SME) US$15,444.19 …(MAIN) US$397,007.15
TOTAL ……………………………………………….(SME) US$1,273,163.40 … (MAIN) US$13,171,159.91
GRAND TOTAL AWARDED………………..US$14,444,323.31
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