By ZBC Reporter
THE month of May has seen nearly 160 million United States dollars being disbursed through the foreign currency auction platform where more than two thousand 500 qualifying bids were allotted.
For the month under review, the Zimbabwe dollar has remained largely stable against the United States dollar with a moving average of 84.63 for every one US dollar.
Raw materials as has become the norm accounted for the largest chunk of the total share with 59.9 million United States dollars.
Machinery and Equipment got a substantial amount of 30.5 million United States dollars, showing significant strides in the retooling exercise.
Fuel, electricity and Gas which are key commodities in oiling economic activities took a staggering 7.4 Million United States dollars while Pharmaceuticals and chemicals also critical in attaining an efficient and effective health delivery system got 11.3 Million United States Dollars.
Paper and Packaging were at 5.1 Million United States dollars while the total bids accepted last month were a massive 2 709 as confidence with the auction system’s capacity continues to grow among economic players.
Meanwhile, this Tuesday’s results of the auction system show that the local currency marginally shed 4 points against the United States dollar from last week’s $84.73 to $84.77 with a total of 38.4 million United States dollars being disbursed.
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