Vol. 28 No. 13

Week Ending
27th March 2026

Weekly Economic
Highlights
TABLE OF CONTENTS


GOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND
7.

1. OVERVIEW
This report presents an overview of key developments in the monetary and financial sectors of the economy
for the week ending 27th March 2026. It highlights trends in domestic money and capital markets, national
payment systems, exchange rates, and global commodity prices.
Local and foreign currency time deposit rates increased across most tenors except for savings rates which
remained the same during the week under review. On the lending side, both the local and foreign currency
lending rates decreased across most maturities except for maximum corporate rates which increased.
Capital markets had a positive momentum during the week ending 27th March 2026. The Zimbabwe Stock
Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) both traded positively for the second
consecutive week adding 2.38% and 5.16% to close the week at 362.34 points and 251.68 points, respectively.
The total value of transactions processed through the National Payment Systems platforms increased by 4.44%
from ZiG44.02 billion recorded in the previous week to ZiG45.97 billion. The volume of transactions
processed increased by 18.70% from 17 million to 20 million during the same period. The largest share of
transactional values was processed through the Real-Time Gross Settlement (RTGS) system, accounting for
78.49%, while mobile money accounted for 84.77% of the transaction volumes.
On the interbank market, the Zimbabwe Gold (ZiG) currency depreciated by 0.01%, to an average of ZiG25.32
per US$1 during the week ending 27th March 2026.
The weekly international average prices for most selected commodities declined except for nickel prices which
remained unchanged during the same week. Average weekly precious metals prices, particularly gold,
platinum and palladium decreased due to strengthening of the US dollar, heightened expectations of tighter
monetary policy and persistent geopolitical tensions.
Average weekly lithium prices weakened on the back of low electric vehicle sales, particularly in China. Brent
crude oil prices fell as tensions in the Middle East eased.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
Deposit rates
06-Mar-2026
13-Mar-2026
20-Mar-2026
27-Mar-2026
Savings


Minimum

Maximum

1-month deposit


Minimum

Maximum

3-months deposit


Minimum

Maximum

6-months deposit


Minimum

Maximum

12-months deposit


Minimum

Maximum

Over 1 year


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026


Average commercial bank deposit rates (Foreign Currency (US$) (%)
US$ Deposit rates
06-Mar-2026
13-Mar-2026
20-Mar-2026
27-Mar-2026
Savings


Minimum

Maximum

1-month deposit


Minimum

Maximum

3-month deposit


Minimum

Maximum

6-month deposit


Minimum

Maximum

12-Month deposit


Minimum

Maximum

Over 1 year


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026

Commercial bank weighted lending rates (Local Currency (ZiG) (%)
ZiG Lending rates
06-Mar-2026
13-Mar-2026
20-Mar-2026
27-Mar-2026
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026

Commercial bank weighted lending rates (Foreign Currency (US$) (%)
US$ Lending rates
06-Mar-2026
13-Mar-2026
20-Mar-2026
27-Mar-2026
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026

Commercial banks and building societies mortgage lending rates (%)
Mortgage Lending
rates
06-Mar-2026
13-Mar-2026
20-Mar-2026
27-Mar-2026
ZiG Lending rates


Minimum

Maximum

US$ Lending rates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026


EQUITY MARKETS

ZSE Indicators


All
Share
Index
(points)
Top 10
Index
(points)
Top 15
Index
(points)
Medium
Cap
(points)
Small Cap
(points)
Mining
Index
(points)
Grand
Market
Cap (ZiG
billion)
Market
Turnover
(ZiG
million)
Volume
of Shares
(million)
06-Mar 26

13-Mar 26

20-Mar 26

27-Mar-26

Weekly
Change

Source: Zimbabwe Stock Exchange, 2026

VFEX Indicators
Date


All Share Index
Points
Grand Market
Capitalisation
(US$ billion)
Market Turnover
(US$ million)
Volume of Shares
(million)
06- Mar 26

13-Mar 26

20-Mar 26

27-Mar-26

Weekly Change (%)

Source: Victoria Falls Stock Exchange, 2026

Figure 1: ZSE and VFEX Indicators


Source: Zimbabwe Stock Exchange and Victoria Falls Stock Exchange, 2026

17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
13-Mar-26
20-Mar-26
27-Mar-26
US$ Thousand
VFEX Market Turnover

17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
13-Mar-26
20-Mar-26
27-Mar-26
Indices
ZSE Indices
All Share Index (ZSE)
Top 10 Index
Mining Index


17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
13-Mar-26
20-Mar-26
27-Mar-26
ZiG Thousands
ZSE Market Turnover

31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
13-Mar-26
20-Mar-26
27-Mar-26
ZiG Billion
ZSE Market Capitalisation

17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
13-Mar-26
20-Mar-26
27-Mar-26
Index
VFEX All Share Index
1.8


17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
13-Mar-26
20-Mar-26
27-Mar-26
US$ Billion
VFEX Market Capitalisation

3. CLEARING AND SETTLEMENT ACTIVITY
Source: Reserve Bank of Zimbabwe, 2026

4. ENERGY PRICES

Energy Prices

06-Mar-2026
13-Mar-2026
20-Mar-2026
27-Mar-2026
Domestic Energy Prices
US$
US$
US$
US$
Diesel 50/ litre

Petrol Blend E5/ litre

LP Gas / kg


International Energy Prices
(Weekly average)
US$/barrel
US$/barrel
US$/barrel
US$/barrel
Crude Oil Prices
(US$/barrel)

Source: Zimbabwe Energy Regulatory Authority and BBC 2026

5. GOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND GOLD BACKED DIGITAL
TOKENS (GBDT)

Gold PM Fix and Gold Backed Digital Token Prices
Date
Gold PM Fix
GBDT ZiG Price per Mg
GBDT US$ Price per Mg
US$/oz
Buy
Sell
Buy
Sell
23-Mar-26

24-Mar-26

25-Mar-26

26-Mar-26

27-Mar-26

Source: London Bullion Market Association and Reserve Bank of Zimbabwe, 2026


PAYMENT STREAM
WEEK ENDING
20 March 2026
WEEK ENDING
27 March 2026
WEEKLY
CHANGE (%)

VALUES

RTGS
36,609,719,328.55
36,080,779,367.93
(1.44)
Of which ZiG
12,982,285,734.62
13,539,692,198.27
4.29
Of which US$ transactions
(ZiG Equivalent)
23,627,433,593.93
22,541,087,169.66
(4.60)
POS
1,370,891,552.93
2,359,118,337.41
72.09
ATM
1,172,408,796.43
1,989,095,423.25
69.66
MOBILE BANKING
193,151,539.00
133,720,654.69
(30.77)
MOBILE MONEY
4,472,447,047.79
5,067,981,852.37
13.32
ZIPIT MOBILE
196,597,609.95
340,284,297.26
73.09
TOTAL
44,015,215,874.65
45,970,979,932.91
4.44

VOLUMES

RTGS
185,138
314,819
70.05
Of which ZiG
69,417
112,563
62.15
Of which US$
115,721
202,256
74.78
POS
1,227,680
1,800,063
46.62
ATM
147,551
255,406
73.10
MOBILE BANKING
227,695
396,799
74.27
MOBILE MONEY
15,076,952
17,180,010
13.95
ZIPIT MOBILE
209,130
320,676
53.34
TOTAL
17,074,146
20,267,773
18.70

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
23-Mar-2026
24-Mar-2026
25-Mar-2026
26-Mar-2026
27-Mar-2026
1.00Oz


US$

ZiG

0.50Oz


US$

ZiG

0.25Oz


US$

ZiG

0.10Oz


US$

ZiG

Source: Reserve Bank of Zimbabwe, 2026


6. EXTERNAL SECTOR


Exchange Rate Developments (ZiG per Unit of Foreign Currency)


USD
ZAR
GBP
BWP
EURO
Weekly Average
(16 Mar – 20 Mar)

23-Mar-26

24-Mar-26

25-Mar-26

26-Mar-26

27-Mar-26

Weekly Average
(23 Mar – 27 Mar)

Appr (-)/Depr (+) (%) of the
ZiG

Source: Reserve Bank of Zimbabwe, 2026


International Commodity Prices

Gold
Platinum
Palladium
Nickel
Lithium

US$/oz
US$/ounce
US$/ounce
US$/tonne
US$/tonne
Weekly Average
(16 Mar –20 Mar)

23-Mar-26

24-Mar-26

25-Mar-26

26-Mar-26

27-Mar-26

Weekly Average
(23 Mar – 27 Mar)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2026

Figure 3: Average Weekly International Commodity Price Developments (31st October 2025– 27th March 2026)


Source: BBC, KITCO and Bloomberg, 2026

RESERVE BANK OF ZIMBABWE
APRIL 2026

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
13-Mar
20-Mar
27-Mar
US$/oz
Gold

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
13-Mar
20-Mar
27-Mar
US$/oz
Crude Oil

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
13-Mar
20-Mar
27-Mar
US$/oz
Platinum

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
13-Mar
20-Mar
27-Mar
US$/oz
Palladium

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
13-Mar
20-Mar
27-Mar
US$/oz
Nickel

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
13-Mar
20-Mar
27-Mar
US$/oz
Lithium