Vol. 28 No. 9

Week Ending
27th February 2026

Weekly Economic
Highlights
TABLE OF CONTENTS


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

1. OVERVIEW
This report provides a synopsis of the monetary and financial developments for the week ending 27th February
2026. It includes updates on domestic money and capital markets, national payment systems, as well as
international commodity prices and exchange rates.
Domestic money market developments were mixed during the week under review. The local and foreign
currency deposit rates remained unchanged across all tenors. Meanwhile, both the local currency and foreign
lending rates for corporate clients increased, while lending rates for the individual clients declined.
Capital markets also reflected mixed trends over the same period. The Zimbabwe Stock Exchange (ZSE)
traded negatively for the second consecutive week, declining by 0.30% to close at 359.11 points. In contrast,
the Victoria Falls Stock Exchange (VFEX) rebounded from the previous week’s losses, gaining 7.42% to close
at 224.06 points during the week ending 27th February 2026.
Activity in the National Payment Systems recorded an improvement during the week under review. The total
value of transactions increased by 1.52% from ZiG39.05 billion recorded in the previous week to ZiG39.65
billion. Similarly, the volume of transactions processed increased by 17.69% from 16.27 million to 19.15
million during the same period under review. The largest share of transactional values was processed through
the Real-Time Gross Settlement (RTGS) system, accounting for 77.24%, while mobile money accounted for
84.38% of the transaction volumes.
On the interbank foreign currency exchange market, the Zimbabwe Gold currency (ZiG), depreciated by
0.45%, from an average of ZiG25.57 per US$1 recorded in the prior week, to ZiG25.69 per US$1.
The international average prices for all the selected commodities increased. Gold, palladium and platinum
prices increased mainly due to broader rally in mineral markets, supported by heightened geopolitical tensions
in the Middle East, particularly involving the U.S./Israel and Iran, which boosted investor demand for safe
haven assets. Lithium prices also rose after Zimbabwe, one of the world’s major exporters of lithium, imposed
a ban on the export of raw minerals and lithium concentrates, tightening global supply.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
06-Feb-2026
13-Feb-2026
20-Feb-2026
27-Feb-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-Feb-2026
13-Feb-2026
20-Feb-2026
27-Feb-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-Feb-2026
13-Feb-2026
20-Feb-2026
27-Feb-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-Feb-2026
13-Feb-2026
20-Feb-2026
27-Feb-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-Feb-2026
13-Feb-2026
20-Feb-2026
27-Feb-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-Feb 26

13-Feb 26

20-Feb 26

27-Feb 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-Feb-26

13-Feb-26

20-Feb-26

27-Feb 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


1.8
1.9


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
US$ Billion
VFEX 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
Index
VFEX All Share 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
US$ Thousand
VFEX Market Turnover
Notable trade deals: Padenga Holdings
Limited,
where
6.03
million
shares
exchanged hands at US$0.72 per share

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
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
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
ZiG Thousands
ZSE Market Turnover
Notable trade deals: A combined total
of
60.54
million
Econet
Wireless
Zimbabwe Limited shares at an average
price ZiG903.63 cents/share.
Notable
trade
deals:
A
combined
53.03
million Econet Wireless Zimbabwe Limited
shares at
an average
price of ZiG908.67
cents/share and 2.51 million NMBZ Holdings
Limited shares at ZiG500.05 cents/share.

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

4. ENERGY PRICES

Energy Prices

06-Feb-2026
13-Feb-2026
20-Feb-2026
27-Feb-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-Feb-26

24-Feb-26

25-Feb-26

26-Feb-26

27-Feb-26

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


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

VALUES

RTGS
32,236,184,487.45
30,623,528,333.04
(5.00)
Of which ZiG
11,805,509,212.40
9,999,770,527.38
(15.30)
Of which US$ transactions
(ZiG Equivalent)
20,430,675,275.05

20,623,757,805.66
0.95
POS
1,291,817,512.69
2,131,668,117.19
65.01
ATM
1,024,740,319.33
1,801,872,979.62
75.84
MOBILE BANKING
180,699,762.00
360,497,378.05
99.50
MOBILE MONEY
4,139,438,198.77
4,416,416,011.75
6.69
ZIPIT MOBILE
181,418,156.87
315,697,427.16
74.02
TOTAL
39,054,298,437.11
39,649,680,246.82
1.52

VOLUMES

RTGS
166,758
322,654
93.49
Of which ZiG
53,958
122,575
127.17
Of which US$
112,800
200,079
77.38
POS
1,176,187
1,749,550
48.75
ATM
131,903
241,775
83.30
MOBILE BANKING
217,507
372,024
71.04
MOBILE MONEY
14,375,620
16,155,777
12.38
ZIPIT MOBILE
201,675
305,641
51.55
TOTAL
16,269,650
19,147,421
17.69

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
23-Feb-2026
24-Feb-2026
25-Feb-2026
26-Feb-2026
27-Feb-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 Feb – 20 Feb)

25.5746

1.5933

34.6411

1.8816

30.2235
23-Feb-26

24-Feb-26

25-Feb-26

26-Feb-26

27-Feb-26

Weekly Average
(23 Feb – 27 Feb)

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 Feb – 20 Feb)

23-Feb-26

24-Feb-26

25-Feb-26

26-Feb-26

27-Feb-26

Weekly Average
(23 Feb – 27 Feb)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2026

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


Source: BBC, KITCO and Bloomberg, 2026

RESERVE BANK OF ZIMBABWE
MARCH 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
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
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
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
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
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
US$/oz
Lithium