The auction, however, catered for only 10% of the foreign payments made so far this year with foreign currency accounts contributing 87% and the interbank market a paltry 3%.
A total of US$756.2 million was paid out with US$662,9 million coming from FCAs and US$14 million from the interbank market.
The Reserve Bank of Zimbabwe has reduced the money allocated to the auction to a maximum of US$5 million a week and has introduced a wholesale forex auction. It is slowly surrendering the forex market to banks and has liberalised the exchange rate to facilitate this.
Even the top 10 beneficiaries have changed with the only constant being Varun Beverages which was at the top and United Refineries which was at number 9. In second spot was Mount Meru Milling, followed by Dendairy, Cafca, Metbank, Mega Market Milling, Mega Market, Prodairy, United Refineries Limited and Restapedic Manufacturing.
Below is the full list of beneficiaries.
(79 VIEWS)
This post was last modified on June 16, 2023 10:31 pm
Zimbabwe’s currency, the ZiG, kicked off the week on a positive note after firming to…
Twenty-five white Zimbabwean farmers who took their R2 billion land damages claim to the South…
Africans must now tell their own stories because if they continue to denigrate themselves they…
Quarterly taxes, which are due next month, will force businesses to sell a quota of…
Zimbabweans will soon be able to change their ZiG to United States dollars and vice-versa…
Senator Sengezo Tshabangu yesterday expressed dismay at the pace at which the government is constructing…