Zimbabwe auction allots US$99.6 million to 2 070 businesses in June


0

The Zimbabwe foreign exchange auction allotted US$99.6 million to 2 070 businesses in June with 72% of the money going to the productive sector.

According to figures released by the Reserve Bank of Zimbabwe today, 505 major firms got US$84 million while 1 565 small and medium enterprises were allotted $15.5 million.

Raw materials accounted for 49% of the money allotted while 23% was for machinery and equipment.

The auction accounted for 20% of the foreign currency that was paid out in the first half of this year.

The bulk, 78%, was from foreign currency accounts.

The interbank market accounted for only 2%.

Here is where the money went in June:

(68 VIEWS)

Don't be shellfish... Please SHAREShare on google
Google
Share on twitter
Twitter
Share on facebook
Facebook
Share on linkedin
Linkedin
Share on email
Email
Share on print
Print

Like it? Share with your friends!

0
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.

0 Comments

Your email address will not be published. Required fields are marked *