Zimbabwe’s local currency dollar weakened by a marginal 0,84 percent to settle at $83,37 from $82,67 to the United States dollar following the latest Reserve Bank of Zimbabwe (RBZ)’s foreign currency auction.

The highest bid on both the main and SMEs platforms merged at $89. Similarly the lowest bid was the same at 80, while the lowest alloted bid on both platforms was $82.

Foreign currency disbursements to industries saw raw materials accounting for the bulk of allotments at US$15, 67 million on the main auction and US$602 842 on the SMEs section.

Machinery and equipment came in second with US$3,91 million on the main and US$507 883 on the SMEs section. And consumables came in third on the main auction at US$2,91 million; but on the SMEs section, consumables took up US$520 178.

The latest foreign currency auction platform saw the Reserve Bank of Zimbabwe (RBZ) accepting bids to the tune of US$36,69 million.

But similar to last week, the total amount alloted was slightly lower at US$36,32 million.

And of the US$36,32 million that was alloted, big businesses took up US$33,7 million, while the SMEs took up US$2,62 million.

The value of bids accepted from big corporates was US$33, 9 million, while US$2,7 million worth of bids on the SMEs platform were accepted. The total number of bids on the auction platform continued to tick upwards, rising to 545 from 533 last week.