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SMES FOREX AUCTION: To Be Run On Tuesdays, All Qualifying Bids Allotted In Full - 6 August 2020

3 years agoThu, 06 Aug 2020 14:40:58 GMT
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SMES FOREX AUCTION: To Be Run On Tuesdays, All Qualifying Bids Allotted In Full - 6 August 2020

The Reserve Bank of Zimbabwe (RBZ) has announced that the Small to Medium Enterprises (SMEs) foreign currency auction which was launched recently will now be held on Tuesdays.

The first auction was held this Thursday as initially stated.

The central bank also noted in a statement that all qualifying bids were allotted in full.

In a statement issued after this week’s auction, RBZ said:

  1. The Weighted Average Rate remained at the same level of the Main Auction.
  2. Bids, which were not eligible in terms of the Priority List, were disqualified.
  3. Bids with overdue (‘his, outstanding Bills of Entry (BOEs) and those with sufficient FCA balances were also disqualified
  4. All qualifying bids were allotted in full.
  5. Going forward the SMEs Auction will be run concurrently with the Main Auction on Tuesdays.

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