The Zimbabwe dollar gained for a third straight week, firming 1,2 percent to $81, 70 against the US dollar from last week’s $82, 69, and 83,32 the week prior to that.

Today’s auction saw total forex allocation reaching a new record of US$21,16 million, up from US$19, 2 million last week for both the main auction and the SMEs auction.

The main auction saw 164 successful bidders allocated US$20 million with another 10 bids disqualified. On the SMEs board, SMEs auction, 84 valid bidders received a total of US$1,14 million with another 15 disqualified.

Bids that were not eligible in terms of the priority list were disqualified; while bids with overdue CDIs, outstanding Bills of Entry and those with sufficient FCA (foreign currency accounts) balances were also disqualified.

The raw materials segment accounted for the bulk of the allotments with US$8,5 million on the main auction and US$216 017 on the SME board.

Machinery and equipment came in second with US$3,1 million on the main and US$218 345 on the SMEs, and consumables, in third place on the main auction US$1,3 million and but topped the SMEs auction at US$291 322.