By- The Zimbabwe dollar has further weakened against the United States (US$) dollar on the foreign currency auction held by the Central Bank Tuesday.

This week the weighted average was US$1: ZWL$1,888.0119 up from US$1: ZWL$1,404.8039 reported on 16 May 2023.

The central bank allotted a total of US$14,166,812.38 down from US$14,444,323.31, with the majority of the allotment going to raw materials, followed by machinery and equipment.

The amount allotted for the Small to Medium Enterprises Forex Auction was US$957,712.91 down from US$1,576,700.13, while the Main Forex Auction was allotted US$13,209,099.47 up from US$13,171,159.91.

♦ Weighted Average Rate moved to 1,888.0119 up from 1,404.8039.

How the money was allocated:

Raw Materials ………………………………………………Small US$288,375.10; Main US$6,799,034.39

Machinery and Equipment Small …………………… US$318,256.50; Main US$2,184,686.84

Consumables (Incl. Spares, Tyres, Electricals, etc) ….Small US$109,719.60; Main US$778,350.98

Services (Loans, Education, Dividends, Disinvestments, etc) … Small US$98,780.03; Main US$552,310.76

Retail and Distribution (Incl. Food, Beverages, etc) …. Small US$95,177.70; Main US$1,704,604.16

Pharmaceuticals and Chemicals Small ……………….. US$19,949.30; Main US$401,843.00

Paper and Packaging Small ……………………………….. US$27,454.68; Main US$788,269.34

TOTAL SMEFK138/2023: …………………………… US$957,712.91; MAIN FX144/202313,209,099.47

GRAND TOTAL AWARDED …………….. US$14,166,812.38

Notes