{"id":33161,"date":"2021-01-20T22:55:34","date_gmt":"2021-01-20T20:55:34","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=33161"},"modified":"2021-01-20T19:04:48","modified_gmt":"2021-01-20T17:04:48","slug":"rbz-auction-defies-covid-19-odds-allots-us35-3-million-amid-sustained-stability","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-auction-defies-covid-19-odds-allots-us35-3-million-amid-sustained-stability","title":{"rendered":"RBZ Auction Defies Covid-19 Odds, Allots US$35.3 Million Amid Sustained Stability"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>By Alois Vinga<\/b> – CONTRARY to earlier market speculation that the current Covid-19 lockdown pandemic will trigger a slowdown in trades, the Reserve Bank of Zimbabwe (RBZ) has defied the odds, allotting a total US$35.3 million amid sustained exchange rate stability.<\/p>\n

A trading update released at the close of the FX02\/2021 auction trades shows that a total US$35.3 million was allotted to companies in line with the priority needs of boosting industrial productivity.<\/p>\n

The amount is slightly lower than US$35.8 million allotted last week when the auction kicked off for the first time in the new year.<\/p>\n

The amounts allotted in the past two weeks are much higher than the peak figures of US$33 million reached last year prompting market watchers to conclude that confidence in the auction is on an upward trend.<\/p>\n

The official exchange rate closed the day at $82.08 against the US$1, gaining by one cent from the figure of $82.09 recorded last week.<\/p>\n

The main auction which hosts large corporates received 260 bids.<\/p>\n

A total US$32.5 million was allotted on the platform with a highest bid rate of $86 and a low of $80.<\/p>\n

Priority allotments went towards raw materials support which earned US$14.9 million, machinery and equipment US$6.2 million, consumables US$1.6 million, services US$1.8 million, retail and distribution US$2.3 million, fuel, electricity and gas US$3.5 million with paper and packaging receiving the least amount.<\/p>\n

On the Small to Medium Enterprises platform, a total 228 bids were received while nine were disqualified.<\/p>\n

The total value of bids accepted was US$2.9 million with highest bidding rates reaching $87 and a low of $80.<\/p>\n

Priority allotments went towards raw materials receiving US$723 820, machinery and equipment US$527 444, consumables US$681 830, services US$359 206 among other priority allotments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. By Alois Vinga – CONTRARY to earlier market speculation that the current Covid-19 lockdown pandemic will trigger a slowdown in trades, the Reserve Bank of Zimbabwe (RBZ) has defied the odds, allotting a total US$35.3 million amid sustained exchange rate stability. A trading update released at the close of the FX02\/2021 auction […]<\/p>\n","protected":false},"author":84,"featured_media":33160,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,19],"class_list":["post-33161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nRBZ Auction Defies Covid-19 Odds, Allots US$35.3 Million Amid Sustained Stability - zimbabwe<\/title>\n<meta name=\"description\" content=\"By Alois Vinga - CONTRARY to earlier market speculation that the current Covid-19 lockdown pandemic will trigger ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-auction-defies-covid-19-odds-allots-us35-3-million-amid-sustained-stability\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBZ Auction Defies Covid-19 Odds, Allots US$35.3 Million Amid Sustained Stability\" \/>\n<meta property=\"og:description\" content=\"By Alois Vinga - 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