RBZ Postpones The 1st 2022 Foreign Currency Exchange Auction

The Governor of the Reserve Bank of Zimbabwe (RBZ), Dr John Panonetsa Mangudya has postponed the first 2022 Foreign Exchange Auction that was scheduled for Tuesday the 11th of January.

Mangudya said the auction will now be conducted on the 18th of this month.            

In a statement, the central bank said the move is in line with the need to facilitate proper documentation systems delayed due to the COVID-19 pandemic.  Pindula News presents the statement:

IMPACT OF COVID-19 ON SUBMISSION OF FOREIGN EXCHANGE AUCTION BID DOCUMENTATION AND DEFERMENT OF FIRST AUCTION OF 2022

The Reserve Bank of Zimbabwe wishes to advise the public that the spike in Covid-19 infections has impacted negatively on the ability of Authorised Dealers to timeously submit essential information required to carry out the due diligence on auction bid documentation submitted by their clients. As a result, Authorised Dealers were not able to submit all the required information for the first auction of 2022, originally set for 11 January 2022.

In order to give Authorised Dealers sufficient time to carry out the necessary due diligence and submit the required documentation, the first auction of 2022 will be held on 18 January 2022.

RBZ’s last auction was on 14 December last year. The central bank then closed the Auction System in line with the resolutions of the Monetary Policy Committee (MPC) meeting of 3 Dec 2021 and in view of the festive season that was approaching.

More: Pindula News

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