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Zimdollar slides against US$

by Staff reporter
30 Sep 2021 at 07:09hrs | Views
THE Zimbabwe dollar marginally slipped by 0,85 percentage points to trade at 87,67 against the United States dollar at the weekly foreign exchange auction conducted on Tuesday from last week's rate of 86,93.

US$41,08 million was allotted this week with US$12,92 million going towards raw materials procurement by companies under the main auction system against US$12,64 million last week.

A total of US$2,95 million went to the SMEs auction for raw material procurement this week compared to US$3 million last week.

For machinery and equipment procurement, the main auction, this week allotted companies US$7,98 million compared to US$6,59 million the previous week.

The auction allocated US$2,74 million to the productive sector under the SMEs sector for machinery and equipment procurement while US$3,03 million was disbursed for the same cause last week.

Other allocations were made for consumables such as spares, tyres and electricals as well as retail and distribution, pharmaceuticals, chemicals, fuel electricity and gas.

Source - chronicle