• Home business RBZ Foreign Exchange Payments For January To August 2022 | Full Statement

    RBZ Foreign Exchange Payments For January To August 2022 | Full Statement

    By Newsreport.co.zw | Published: 22 Sep 2022

    The Reserve Bank of Zimbabwe (RBZ) has revealed the Foreign Exchange Auction Allotments for August 2022 and Foreign Exchange Payments for the period January to August 2022.

    In a statement, RBZ governor John Mangudya said that details about the allotments have been released to ensure that the public is informed of developments in the foreign exchange market. Part of the statement reads:

    In line with the Bank’s commitment to regularly keep the public informed of developments in the foreign exchange market, the Bank hereby publishes the following:

    1. A list of the 352 beneficiaries of US$74 818 220 allotted under the Main Foreign Exchange Auction during the month of August 2022;

    2. A list of the 1 154 beneficiaries of US$15 996 378 allotted under the SMEs Foreign
    Exchange Auction during the month of August 2022; and

    3. A schedule showing the total foreign exchange payments for the period January 2022 to August 2022, by source, amounting to US$5 306 865 010 broken down as follows: –

    (i) foreign currency accounts (US$4 267 521 501),

    (ii) Foreign Exchange Auction Allotments (US$925 501 215); and

    (iii) the interbank market (US$113 842 293).

    The bulk of the auction allotments during the month of August 2022 (71%) was for payment for raw materials (US$42 118 094) and machinery and equipment (US$22 343 924), with the remaining 29% of the total allotments going towards payment for services (US$9 345 489), consumables (US$7 913 708), retail and distribution (US$5 050 610), pharmaceuticals and chemicals (US$2 557 581), packaging (US$1 459 452) and fuel, electricity and gas (US$25 740), as shown in the tables below.

    Total cumulative foreign exchange auction allotments since the inception of the Foreign Exchange Auction System stand at US$3 521 882 028.

    Source Pindula News

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    24 Sep 2022

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