More Zimbabwe companies getting money from forex auction as it allots record US$42.5 million today


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More than 730 companies, 401 from the small and medium enterprises sector and 330 large companies, were today allotted a record US$42.5 million with the small companies gettingUS$6.2 million.

According to the Reserve Bank of Zimbabwe, 1 744 small companies and 1 334 large companies benefitted from the foreign currency auction between June last year and April this year.

But in the three auctions so far held this month 1 034 small companies and 940 large companies have benefitted. They were allotted US$121.5 million.

The auction has so far disbursed US$1.3 billion since its launch, US$674.4 million this year alone.

The Zimbabwe dollar today eased by 4 cents to average $84.6497 from last week’s $84.6140.

The highest offer was $90 while the lowest offer remained at $82.

Click here to see the list of 3 078 companies that got forex from the RBZ between June 2020 and April 2021.

 

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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