RBZ allocates $USD26 million at latest forex auction

By ZBC Reporter

The Reserve Bank of Zimbabwe, RBZ, continues to demonstrate its capacity to meet foreign currency demand after a whooping $USD26 million was allocated at this Tuesday’s forex auction with the local currency appreciating marginally against the greenback to $81.35.

Raw materials claimed the largest chunk of the forex allocation at $USD8.4 million while Machinery and Equipment claimed second position with $USD4.2 million in a move synonymous with the country’s economic productivity agenda.

A total of 307 bids were fully satisfied for both the small to medium Enterprises Auction and the main Auction.