RBZ Foreign Exchange Auction Allotments For December 2023 | Full Text

The Reserve Bank of Zimbabwe (RBZ) has revealed the Foreign Exchange Auction Allotments and Foreign Exchange Payments for December 2023. A statement issued by the central bank reads:

FOREIGN EXCHANGE AUCTION ALLOTMENTS AND FOREIGN EXCHANGE PAYMENTS FOR DECEMBER 2023

In line with its commitment to regularly keep the public informed of developments in the foreign exchange market, the Bank hereby advises that: –

1. The sum of US$3 909 195 was allotted to 228 beneficiaries under the Retail Foreign Exchange Auction during the month of December 2023 and the sum of US$12 830 473 was allotted to 263 beneficiaries under the Wholesale Foreign Exchange Auction during the month of December 2023.

2. Total foreign exchange payments for December 2023 were US$685 413 107 broken down as follows: –

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(i) foreign currency accounts (US$651 028 674);
(ii) Foreign Exchange Auction Allotments (US$16 739 668); and
(iii) the interbank market (US$17 644 765).

3. The bulk of the retail auction allotments during the month of December 2023 (58%) was for payment for raw materials (US$1 489 281) and machinery and equipment (US$763 311), with the remaining 42% of the total allotments going towards payment for services (US$474 514), consumables (US$556 276), retail and distribution (US$129 617), pharmaceuticals and chemicals (US$399 609), and manufactured goods (US$96 587).

4. Total cumulative foreign exchange auction allotments since the inception of the Foreign Exchange Auction System in June 2020 stand at US$4 120 819 400.

5. Details of beneficiaries and sums allotted can be accessed on the Bank’s website, www.rbz.co.zw.

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