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#Economy

First-ever combined forex auction results are in, rate now at 82.56

Harare Business district
   
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The first-ever combined forex auction (SMEs and Grand Auction) results are in. The Reserve bank last week decided to merge the two auctions after what seemed to have been a test run of the SMEs Auction.

The results are as follows:

SME Auction #2Main Auction #8
Amount AllottedUSD789 866.02USD17 981 174.01
Highest Rate90.000090.0000
Lowest Rate80.000077.0160
Lowest Accepted Rate80.000077.0160
Total BidsUSD789 866.02USD17 981 174.01
Number of Bids Recieved75171
Number of Bids Disqualified1515

Weighted Average Rate 82.5608

PurposeAmount Alloted Main Auction (USD)Amount Alloted SME Auction (USD)
Raw Materials 7 638 735.47235 721.60
Machinery and Equipment2 939 205.80148 685.35
Consumables2 530 257.93145 872.68
Pharmaceuticals and Chemicals1 421 435.6497 023.36
Services (Loans, Dividends and Disinvestments)1 353 774.0067 416.87
Retail and Distribution1 215 715.1770 746.16
Fuel. Electricity and Gas475 820.000
Paper and Packaging406 230.0024 400.00
TOTAL17 981 174.01789 866.02
Reserve bank of Zimbabwe

Grand Total USD18 771 040.43

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