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More businesses benefit from RBZ forex auction system

by Staff Reporter
14 May 2021 at 08:23hrs | Views
THE Reserve Bank of Zimbabwe (RBZ) on Wednesday published a list of institutions and individuals that have accessed foreign currency from the auction system from June 2020 to April 2021.

A total US$1,095,577,970 was allotted from the main auction board to 1 334 institutions. A total of 1 744 firms accessed US$80,712,429 from the SMEs Foreign Exchange Auction.

Blue Ribbon Foods is the biggest beneficiary after purchasing US$17.2 million from the auction system. Varun Beverages, which is into the production of beverages, was second after accessing US$15.2 million.

Other familiar firms that got more than US$10 million include but are not limited to Dairibord US$11,4 million, Surface Wilmar US$11.9 million, United Refineries US$12.7 million, among others.

Royal Harare Golf Club got the least amount of US$1,299. The RBZ said the statement on who got what from the auction is being issued in line with the Bank's commitment to regularly keep the public informed on developments under the Foreign Exchange Auction System.

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Source - Chronicle

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