i


JULY 2023

TABLE OF CONTENTS


OVERVIEW

The annual headline inflation rate decreased
from 175.8% in June 2023 to 101.3% in July
2023. Month-on-month inflation also declined
from 74.5% to minus 15.3% during the same
month. The decrease in inflation is largely
attributable to the appreciation of the exchange
rate during the month.

On a month-on-month basis, broad money
declined by 8.91% in July 2023, compared to
an increase of 7.20% in June 2023. The decline
in money supply partly reflected a decrease of
ZW$10,099.33 billion in foreign currency
accounts (FCAs) deposits largely on account of
the appreciation of the exchange rate from
ZW$5,740/USD in June to ZW$4,516/USD in
July 2023.

The international prices for gold, copper, and
Brent crude oil increased in July 2023, while
those for platinum, palladium and nickel
declined during the same month.

The
country’s
total
merchandise
trade
amounted to US$1,386.1 million in July 2023,
representing a 1.3% increase from US$1,368.9
million recorded in the previous month. On a
yearly basis, total merchandise trade rose by
8.6%, from US$1,276.1 million in the
corresponding month in 2022 to US$1,386.1
million in the reporting month.

The
Zimbabwe
Stock
Exchange
(ZSE)
exhibited bearish sentiments. The All Share,
Top 10 and Top 15 indices declined by 33.06%,
44.27% and 39.16%, respectively during the
month.

The value of transactions processed through the
National Payment Systems (NPS) increased by
3% to close the month of July at ZWL$27.13
trillion. In volume terms, NPS transactions,
however, declined by 7% to close the month at
54.59 million in July 2023.

INTERNATIONAL COMMODITY PRICE
DEVELOPMENTS

The monthly average prices for gold, copper,
and Brent crude oil increased, while those for
platinum, palladium and nickel declined.

Precious Metals

Gold
Gold prices averaged US$1,949.21 per ounce
in July 2023, a marginal increase of 0.60%
from a monthly average of US$1,937.51 per
ounce in the previous month. A weaker US
dollar
supported
precious
metal
prices,
following speculation that the US Federal
Reserve intended to end its tight monetary
policy stance.

Platinum
Platinum prices fell by 2.60%, from an average
of US$972.80 per ounce in the previous month,

to close the month under review at US$947.48
per ounce. The price decline was underpinned
by weaker-than-expected economic growth in
China, which affected the demand for the
precious metal.


Palladium
Palladium prices fell by 5.25%, from a monthly
average of US$1,330.98 per ounce in June 2023
to US$1,261.16 per ounce during the reporting
month. This was mainly attributed to weak
global industrial demand, particularly in the
automotive industry. Figure 1 shows the
precious metal price developments for the
period from July 2020 to July 2023.

Figure 1: Precious Metal Prices (US$/oz.)
Source: Bloomberg, 2023

Base Metals


Copper
Copper prices continued to increase largely on
account of demand recovery in China following
the announcement of additional stimulus
measures to boost the country’s economy. The
price of copper increased by 1.27%, from
US$8,393.20 per tonne in the previous month
to US$8,499.90 per tonne in July 2023.

Nickel
Nickel prices continued on a negative trajectory
during the month, falling by 0.63% from an
average of US$21,449.27 per tonne recorded in
the prior month, to US$21,313.10 per tonne in
July 2023. The decline was driven by weak
demand prospects in China, the world's largest
producer and consumer of stainless steel, and
Europe. Figure 2 shows the base metals price
developments from July 2020 to July 2023.

Figure 2: Base Metal Prices (US$/ton)
Source: Bloomberg, 2023

Brent Crude Oil

Oil prices rebounded by 6.81%, from an
average of US$74.90 per barrel in June 2023 to
US$80.00 per barrel in July 2023. Prices rose
due to supply constraints following output cuts
in key producing countries such as Russia and

Jul-20
Nov-20
Mar-21
Jul-21
Nov-21
Mar-22
Jul-22
Nov-22
Mar-23
Jul-23
Gold
Palladium
Platinum (RHS)

Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Mar-23
May-23
Jul-23
Copper
Nickel (RHS)

Saudi Arabia and the anticipated rebound in
demand in the US, the world's largest oil
consumer.

Figure 3 shows developments in crude oil
prices for the period July 2020 to July 2023.

Figure 3: Crude Oil Prices (US$/barrel)

Source: Bloomberg, 2023

MERCHANDISE TRADE DEVELOPMENTS

The
country’s
total
merchandise
trade
amounted to US$1,386.1 million in July 2023,
representing a 1.3% increase from US$1,368.9
million recorded in the previous month. On a
yearly basis, total merchandise trade rose by
8.6%, from US$1,276.1 million in the
corresponding month in 2022 to US$1,386.1
million in the reporting month.

Merchandise Exports

During the month of July 2023, the country
exported goods worth US$603.2 million, 6.0%
down from US$641.5 million realised in the
preceding
month.
Compared
to
the
corresponding month in 2022, merchandise
exports in the month under review were 10.0%
higher than the outturn of US$548.4 million
recorded in July 2022.

Figure 4 shows developments in the country’s
merchandise exports for the period from
January 2022 to June 2023.

Figure 4: Merchandise Trade (US$ m)

Source: ZIMSTAT, 2023

The major export drivers during the month
under review were gold, industrial diamonds,
and PGMs, contributing 26.7%, 19.2%, and
17.1%, respectively, of the country’s total
exports. However, export earnings from gold
and PGMs were lower than in the previous
month, declining by 16.8% and 39.8%,
respectively. The decline was primarily
attributable to depressed prices on the back of
sluggish demand in China.

Table 1 shows development in the country’s
exports for the months of June and July 2023.

Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
US$/barrel

Jan
Feb
Mar
Apr
May
Jun
Jul
Merchandise Exports (US$m)

Table 1: Exports Classified by Harmonized
Commodity Description and Code System

Source: ZIMSTAT & RBZ Calculations, 2023
*PGMs Include Nickel mattes, nickel ores & concentrates and
platinum

Zimbabwe’s exports were mainly destined for
the United Arab Emirates (27.6%), South
Africa (23.6%) and Mozambique (8.6%),
during the month ending 31 July 2023.


Figure 5: Top Ten Merchandise Export
Destinations (% Share)

Source: ZIMSTAT & RBZ Calculations, 2023

Merchandise Imports

The country’s import bill amounted to
US$782.9 million in July 2023,7.6% higher
than US$727.4 million recorded in the previous
month. Compared to the corresponding month
in 2022, the month’s export outturn was 7.6%
higher, as shown in Figure 6.

Figure 6: Merchandise Imports classified by
HS Codes (US$ m)

Source: ZIMSTAT & RBZ Computations, 2023


United Arab Emirates
South Africa
Mozambique
Hong Kong
China
Belgium
Zambia
Netherlands
Italy
Kenya


Jan
Feb
Mar
Apr
May
Jun
Jul

June-23
(US m)
July-23
(US$m)
JuneJuly
Changes
(%)
Share of
Exports
(%)
July-23
Total

Of Which


Gold

Industrial
diamonds

PGMs

Tobacco (Inc.
cigarettes)

Ferrochromium

Coal

Cane sugar

Chromium
ores &
concentrates

Granite

Oranges


During the month under review, the country’s
imports were mainly composed of diesel
(9.7%), petrol (5.0%), crude soya bean oil
(2.4%) and rice (2.4%). The growth in the
country’s fuel import bill was primarily
attributable to a global rise in oil prices owing
to supply deficits. Table 2 shows imports of
major commodities for the months of June and
July 2023.


Table 2: Imports Classified by Harmonised
Commodity Description and Code System

June-23
(US$m)
July-23
(US$m)
JuneJuly
Changes
(%)
Share
of Total
Imports
(%)
July-23
Total

Of Which


Diesel

Leaded
petrol

Crude soya
bean oil

Rice

Structures
& parts of
structures

Electricity

Ammonium
nitrate

Public
transport
type
vehicles

Selfpropelled
bulldozers

Cane Sugar

Source: ZIMSTAT & RBZ Calculations, 2023
The country’s imports for July 2023 were
mainly sourced from South Africa (41.1%),
China (16.3%), Bahamas (11.6%), Hong Kong
(3.0%) and other markets. Figure 7 shows the
country’s top import sources in June 2023.

Figure 7: Top Ten Merchandise Import
Sources (% Share)
Source: ZIMSTAT & RBZ Calculations, 2023

Merchandise Trade Balance
The country’s trade developments culminated
in the deterioration in the trade balance, from a
deficit of US$85.9 million in June 2023 to a
deficit of US$179.6 million during the month
under review. Similarly, the country’s trade
balance widened, year on year, from a deficit of
US$179.4 million in the comparable month in
2022 to a deficit of US$179.6 million in July
2023.

Figure 8 shows merchandise trade balance from
March 2023 to July 2023.


South Africa
China
Bahamas
Hong Kong
India
United Arab Emirates
Zambia
Mauritius
Mozambique
Thailand

Fig 8: Merchandise Trade Balance (US$ m)

Source: ZIMSTAT & RBZ Computations, 2023

MONETARY DEVELOPMENTS1

Broad money (M3) stock amounted to
ZW$13,003.45 billion in July 2023, compared
to ZW$14,275.48 billion in June 2023. The
money stock was comprised of foreign
currency deposits, 82.41%; local currency
deposits, 17.52% and currency in circulation,
0.02%. Figure 9 shows the money supply
composition.
Figure 9: Composition of Money Supply
Source: Reserve Bank of Zimbabwe, 2023

On a monthly basis, the broad money supply
declined by 8.91% in July 2023, compared to a
7.20% increase recorded in June 2023. The

1All monetary numbers valued in ZW$ since the
adoption of an interbank market determined exchange
rate in February 2019.
decline in money supply reflected a decrease of
ZW$10,099.33 billion in foreign currency
accounts (FCAs) deposits, resulting from the
appreciation of the exchange rate from
ZW$5 740/USD in June to ZW$4 516/USD in
July 2023. The local currency component of
deposits increased by ZW$506.73 billion,
reflecting the cumulative impact of credit
creation by banks.

During the month under review, the growth in
domestic claims by banks slowed down to
3.91%, compared to 63.27% recorded in June
2023. Credit to the private sector, decreased by
ZW$1,563.90 billion in July 2023, largely
reflecting the impact of exchange rate
appreciation. Over the same period, net claims
on Government by the banking sector increased
by ZW$2,353.73 billion.

On an annual basis, broad money registered an
increase of 977.06% in July 2023 compared to
1,174.94%, in June 2023. The annual growth in
money supply largely reflected exchange rate
depreciation. Expansion in foreign currency
deposits, accounted for 826.22 percentage
points of the 977.06% annual growth in broad
money. The local currency component of
money supply also increased by 390.22%.

The annual increase in broad money largely
reflected nominal changes in credit to the
private
sector
and
public
non-financial
corporations,
of
ZW$7,027.66
billion

Mar-23
May-23
Jul-23
Exports
Imports
Trade Balance
NCDs,
0.02%
Local
Currency
Time , 1.60%
FX Time
Deposits, 4.74%
Local Currency
Transferable ,
15.90%
FX Transferable
Deposits, 77.67%
Currency in
Circulation,
0.08%

(1,037.60%);
and
ZW$1,059.22
billion
(1,238.18%), respectively.

The outstanding credit to the private sector was
mainly in respect of credit to households and
agriculture, which received 21.97% and
16.48% of the total credit, respectively. The
manufacturing
and
distribution
sectors
accounted for 15.71% and 12.77% of the credit,
respectively. Private sector credit shares for all
the sectors are shown in Figure 10.

Figure 10: Distribution of Private Sector
Credit
Source: Reserve Bank of Zimbabwe, 2023

Credit to the private sector was largely utilized
for recurrent expenditures, 40.14%; inventory
build-up,
24.61%;
and
fixed
capital
investments, 14.72%.

STOCK MARKET DEVELOPMENTS
ZIMBABWE STOCK EXCHANGE (ZSE)

During the month of July 2023, the Zimbabwe
Stock Exchange (ZSE) exhibited bearish
sentiments. Thus, the All Share, Top 10 and
Top 15 indices declined by 33.06%, 44.27%
and 39.16% to close the month at 114 746.13
points, 51 844.10 points and 72 293.87 points,
respectively.

The resource index, however, added 16.31% to
close at 89 512.59 points, compared to
76 960.49 points registered in the previous
month.

On a yearly basis, the All Share, Top 10 and
Top 15 indices increased by 591.45%, 405.02%
and 539.31%, from 16 594.91 points, 10 265.73
points and 11 308.19 points recorded in the
comparable period last year, respectively.

The mining index also went up by 347.09%
from 20 021.24 points registered in July 2022.

Figure 11: ZSE All Share, Top 10 and
Mining Indices
Source: Zimbabwe Stock Exchange, 2023
Households
21.97%
Agriculture
16.48%
Mining
12.48%
Manufacturing...
Distribution
12.77%
Construction
2.01%
Transport &
Communicati
ons...
Services
9.78%
Financial Org.
& Investments
5.94%
Other


31-Jul-22
31-Aug-22
30-Sep-22
31-Oct-22
30-Nov-22
31-Dec-22
31-Jan-23
28-Feb-23
31-Mar-23
30-Apr-23
31-May-23
30-Jun-23
31-Jul-23
All Share Index
Top 10 Index
Mining Index

Owing to dampened trading activity during the
month under analysis, the cumulative volume
and value of shares traded declined by 8.27%
and 52.10% to 176.55 million shares and
ZW$40.85 billion, respectively.

The proportion of foreign purchases to the
value of shares traded declined to 2.40%, from
2.77% in June 2023.

Concomitantly, net foreign position worsened
to negative ZW$10.21 billion, from positive
ZW$1.07 billion realized in June 2023.

Figure 12: ZSE Monthly Volume and Value
Traded

Source: Zimbabwe Stock Exchange, 2023
Market Capitalization closed the month at
ZW$9,171.35 billion. This represents a decline
of 34.43%, compared to ZW$13,987.48 billion
recorded in June 2023.

On a year-on-year basis, ZSE capitalization
rose by 343.44%, from ZW$2,068.22 billion
recorded in July 2022.
VICTORIA FALLS STOCK EXCHANGE
(VFEX)

The Victoria Falls Stock Exchange (VFEX)
was characterized by bearish sentiments during
the month of July 2023. Consequently, the
VFEX All Share index lost 10.32% to close at
68.31 points, from 76.17 points recorded in the
previous month.

On an annual basis, the VFEX All Share Index
declined by 44.24%, from 122.50 points
recorded in July 2022.

Figure 13: Victoria Falls Stock Exchange
(VFEX) All Share Index (ASI)

Source: Victoria Falls Stock Exchange, 2023

VFEX Market Capitalization
During the month under analysis, the VFEX
market capitalization lost 9.13% to US$1.17


Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
VALUE TRADED ($ MILLIONS)
VOLUME TRADED (MILIONS)
Volume
Value

31-Jul-22
31-Aug-22
30-Sep-22
31-Oct-22
30-Nov-22
31-Dec-22
31-Jan-23
28-Feb-23
31-Mar-23
30-Apr-23
31-May-23
30-Jun-23
31-Jul-23

billion, compared to US$1.29 billion recorded
in June 2023.

Figure 14: Victoria Falls Stock Exchange
(VFEX) Market Capitalization (US$ b)

Source: Victoria Falls Stock Exchange (VFEX), 2023
NATIONAL PAYMENTS SYSTEM

The value of transactions processed through the
National Payment Systems (NPS) increased by
3%
to
ZW$27.13
trillion
from
ZW$26.41trillion, recorded in June 2023. NPS
transactions volumes decreased by 7% from
58.55 million to 54.59 million recorded in June
2023.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
Real Time Gross Settlement (RTGS) system
increased by 5% to ZW$17.86 trillion from
ZW$17.06 trillion recorded in June 2023. The
volume of RTGS transactions decreased by
10%, from 1.05 million in June 2023 to 0.94
million in July 2023.

Figure 15: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2023

Mobile and Internet Based Transactions

Mobile and internet-based transactions stood
at ZW$7.70 trillion in July 2023, down from
ZW$7.85 trillion recorded in the preceding
month.
INFLATION OUTTURN
Annual Inflation
Headline inflation declined from 175.5% in
June 2023 to 101.3% in July 2023, attributable
to significant appreciation of the local currency
which resulted in positive pass-through effects
to inflation.


Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Billions


Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Value in ZW$ Billions
Volume in Thousands
Volume
Value

This followed the liberalisation of the exchange
rate coupled by the increase in statutory
reserves for local currency to 15%, lifting of
import restrictions on basic goods and
commodities, upward adjustments of the
interest rates and increased demand for local
currency due to demand for specific taxes and
duties in local currency.
Annual food inflation declined to 103.1% in
July 2023, from 255.6% in June 2023. Year-onyear, annual non-food inflation also decelerated
to 99.3% in July 2023, contributing 56.7
percentage points to the July 2023 inflation rate
of 101.3%.

Monthly Inflation

The month-on-month inflation rate sharply
decelerated from 74.5% in June 2023 to minus
15.3%, in July 2023, largely driven by the fall
in food inflation.

Food inflation tumbled from 104.2% in June
2023 to minus 30.7% in July 2023. Monthly
non-food inflation also fell from 49.5% to 2.4%
over the same period.

Figure 16: Month-on-Month Inflation (%)

Source: ZIMSTAT, 2023

SEPTEMBER 2023
RESERVE BANK OF ZIMBABWE


Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Mar-23
May-23
Jul-23
Food and non alcoholic beverages
Non food
All Items

Statistical Tables

Monetary Statistics
1. Depository Corporations Survey

2. Central Bank Survey

3. Other Depository Corporations Survey

Other Depository Corporations

4.1 Assets

4.2 Liabilities

Commercial Banks
5.1 Assets

5.2 Liabilities

Building Societies
6.1 Assets

6.2 Liabilities

Sectoral Analysis of Bank Loans and Advances and Deposits

7.1 Sectoral Analysis of Commercial Banks Loans and Advances

7.2 Sectoral Analysis of Commercial Banks Deposits

Interest Rates

8.1 Lending Rates

8.2 Banks Deposit Rates

Inflation

9.1 Monthly Inflation

9.2 Yearly Inflation

External Statistics
10. Exchange Rates

Zimbabwe Stock Exchange
11. Zimbabwe Stock Market Statistics

National Payments System Statistics


12.1 Values of Transactions

12.2 Volumes of Transactions

Trade Statistics


13. Merchandise Trade Statistics

TABLE 1: DEPOSITORY CORPORATIONS SURVEY ($'000)
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Net Foreign Assets

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Central Bank

ODCs

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)

Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Deposits and Securities Excluded from Base Money

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad
Money

Broad Money-M2

Other Deposits

of which Foreign Currency Accounts

Narrow Money-M1

Transferable Deposits

Of which Foreign Currency Accounts

Currency Outside Depository Corporations

Memorandum Items
Reserve Money

FCAs as a Percentage of Deposits in M3

End Period Exchange Rate

Source: Reserve Bank of Zimbabwe, 2023

Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Net Foreign Assets

Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities*

of which blocked funds

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

Loans

Loans and Advances

Amounts Due from Gvt including SDR Draw

Export Incentives

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Of which: Loans

Other Liabilities to ODCs

Of which: Aftrades Balances

Securities

Other Items(Net)

Shares and Other Equity

Other Items(Net)

Liabilities to Other Resident Sectors

Deposits and Securities Excluded from Base Mon

Monetary Base Incl. foreign currency clearing balances
Monetary Base

Bond Coins

Bond Notes

Liabilities to ODCs

Local Currency Reserve Deposits

Foreign Currency Reserve Deposits

Exess reserves

Private Deposits

Source: Reserve Bank of Zimbabwe,2023
NB: * Other Foreign Liabilities include blocked funds amounting to USD2.2 billion assumed by the Central Bank on behalf of Government.
TABLE 2: CENTRAL BANK SURVEY ($'000)

TABLE 3 : OTHER DEPOSITORY CORPORATIONS SURVEY ( $ '000)
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Net Foreign Assets

Claims on Non Residents

Of Which: Foreign Currency

Deposits

Other

Less Liabilities to Non Residents

Of Which: Deposits

Loans

Other

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Securities

Loans

Other
-

-

-

-

-

-

-

-

-

-

-

-

-

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on the Central Bank

Currency

Reserves

Securities

Other Claims

Liabilities to the Central Bank

Other Items(Net)

Shares and Other Equity

Liabilities to other ressident sectors

Other Items(Net)

Deposits and Securities Included in Broad Money

Deposits Included in Broad Money
1,190,567,540.78

1,587,531,116.15

1,897,768,184.73

1,858,602,031.80

2,042,355,987.09

2,314,588,211.40

2,646,071,378.63

2,888,136,764.51

3,165,058,675.05

3,572,801,781.15

7,206,537,527.79

14,244,682,762.54

12,975,158,042.76

Transferable Deposits
1,096,365,440.31

1,453,358,587.07

1,740,700,191.97

1,692,150,785.93

1,853,157,849.44

2,081,176,430.96

2,371,032,667.32

2,594,362,513.35

2,832,323,179.02

3,303,913,423.92

6,651,231,769.05

13,178,109,450.38

12,150,500,072.13

of which FCAs
688,801,163.42

991,050,824.09

1,196,071,655.58

1,131,156,966.82

1,211,583,916.42

1,325,367,130.51

1,623,313,580.02

1,750,982,009.54

1,865,387,117.78

2,144,912,895.57

5,273,965,984.48

11,634,530,484.57

10,099,327,960.39

Other Deposits

of which FCAs

Money Market Instruments
8,137,874.02

12,785,574.75

14,047,495.34

15,558,863.88

13,438,521.87

14,148,964.76

15,056,472.03

15,711,655.30

16,082,619.50

1,843,391.22

4,659,433.86

4,243,581.90

2,137,443.55

Source:Reserve Bank of Zimbabwe,2023

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Local
Other
Notes &
Coin
with
Other Depository
with
on
Government1
oca
Governemt
Other2
Government
Local
Public
Institutional
Other cliams
Contigent Assets
Other Assets
Non Financial
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Government
Enterprises
Units
Assets

Jan
183.4

3,176.6

13,217.3

1,073.2

8,142.0


Feb
267.1

3,136.4

13,817.0

1,504.5

8,642.5


Mar
263.6

3,607.6

16,167.1

2,214.4

12,681.9


Apr
298.5

3,642.9

17,926.4

1,523.3

13,697.1


May
330.0

3,581.8

21,376.4

1,749.6

15,757.4


Jun
606.6

9,584.7

29,457.9

3,974.7

35,786.5


Jul
690.8

18,357.0

54,139.7

5,578.7

42,159.7


Aug
975.1

28,776.0

54,868.5

4,623.1

41,100.2


Sep
1,084.2

30,217.6

56,679.6

4,426.6

39,530.8


Oct
1,064.2

32,235.0

66,948.5

4,457.3

40,092.7


Nov
1,063.6

34,673.9

73,237.2

4,211.3

41,173.6


Dec
1,177.8

39,886.8

76,076.5

5,771.7

38,623.2


Jan
1,483.3

42,733.9

77,994.4

13,109.2

40,071.8


Feb
1,735.4

41,180.7

76,140.3

17,748.1

39,141.4


Mar
1,457.1

40,953.3

83,032.1

6,945.5

42,516.8


Apr
1,699.7

40,964.4

85,330.2

6,844.8

49,733.4


May
1,906.1

30,579.1

94,330.9

7,907.2

63,644.8


Jun
1,702.8

30,255.6

75,795.2

25,605.9

72,780.6


Jul
2,139.9

30,509.1

104,983.5

17,817.9

82,032.9


Aug
2,551.1

33,323.4

93,806.9

11,919.2

72,753.9


Sep
2,853.7

38,500.1

100,996.0

8,626.8

68,707.9


Oct
2,611.1

50,074.7

108,009.2

9,575.8

89,822.4


Nov
2,721.5

53,424.3

107,781.7

15,560.6

74,072.3


Dec
2,838.3

50,031.0

118,451.3

13,654.0

91,352.6


Jan
2,891.2

53,378.3

116,654.8

13,232.3

69,668.2


Feb
2,577.7

62,064.5

122,479.8

17,480.5

76,802.2


Mar
2,111.5

76,544.2

142,962.5

19,239.6

87,884.5


Apr
2,624.9

74,716.9

160,466.5

28,352.1

123,190.3


May
3,155.9

142,118.9

236,166.0

35,928.9

207,812.8


Jun
2,801.2

138,347.1

266,691.8

45,952.0

241,920.1


Jul
2,427.6

159,024.6

315,832.5

39,388.2

230,432.5


Aug
2,640.6

263,637.4

411,439.9

69,203.5

311,107.0


Sep
3,030.7

289,230.8

504,071.1

75,446.7

417,007.1


Oct
3,022.6

300,240.3

525,870.3

104,483.2

389,979.7


Nov
3,251.4

286,365.2

575,885.7

111,716.1

342,790.1


Dec
3,361.7

295,435.1

652,284.4

119,932.8

351,906.8


Jan
4,923.3

379,841.7

704,168.6

151,980.1

389,342.8


Feb
1,880.1

436,062.8

743,888.5

81,067.5

518,081.0


Mar
2,031.6

425,326.5

817,631.1

112,374.3

531,935.4


Apr
1,844.7

462,081.4

972,122.7

161,740.7

620,095.0


May
1,107.2

1,048,116.4

2,049,066.1

309,234.1

1,554,969.0


Jun
1,984.5

2,249,201.6

4,424,350.0

471,360.3

3,050,984.1


Jul
1,489.0

1,584,403.3

4,137,377.2

380,493.0

3,132,849.9


Source:Reserve Bank of Zimbabwe,2023
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations.
Public
Enterprises
TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Contigent
Other
TOTAL
and
Liablities
Liablities
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Reserve Bank of Zimbabwe,2023
TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
$ millions

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Government
Government
Enterprises
Institutional Units3
Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
165.80

2,845.62

12,018.43

708.00

7,706.57

1,811.38

4,029.43

-

125.52

14.97

5.11

12.17

326.11

10,766.91

77.59

2,965.93

3,395.90

8,058.15

55,033.6

Feb
251.70

2,756.57

12,731.97

889.16

8,264.76

1,532.87

3,877.19

-

117.45

13.99

5.15

11.56

329.47

11,656.91

88.37

5,441.70

11,907.90

8,653.69

68,530.4

Mar
242.41

3,063.92

14,545.58

1,948.14

12,381.17

2,497.47

4,373.76

-

0.08

20.23

4.39

11.39

765.82

14,041.67

127.46

7,917.31

5,718.53

9,244.62

76,904.0

Apr
263.29

3,147.75

16,673.44

1,287.51

13,285.14

3,056.32

4,235.96

-

0.08

18.39

4.47

9.75

834.72

14,864.30

129.90

7,642.80

6,534.14

9,703.93

81,691.9

May
284.33

3,144.57

19,827.46

1,553.68

15,003.29

3,130.38

4,160.50

-

0.12

45.79

4.53

9.61

768.01

17,762.27

143.44

7,042.04

6,012.40

9,845.09

88,737.5

Jun
515.11

8,372.39

26,368.55

3,570.85

34,550.44

7,527.46

5,841.98

-

0.12

90.14

4.29

9.41

2,010.79

26,638.87

215.56

24,299.33

14,590.26

18,983.05

173,588.6

Jul
577.99

16,536.53

49,470.13

4,219.81

40,259.84

11,399.93

6,357.84

-

-

74.57

4.33

12.61

1,025.78

33,054.99

229.06

28,551.07

10,247.64

19,646.49

221,668.6

Aug
821.16

26,519.73

49,165.59

4,265.44

38,763.72

14,219.24

6,484.68

-

-

39.07

14.05

14.74

1,046.29

38,741.31

231.00

25,354.64

9,460.49

19,961.16

235,102.3

Sep
891.26

27,646.41

51,169.67

3,898.65

38,420.20

14,126.83

6,354.19

-

-

107.40

9.61

22.30

1,050.38

41,088.91

228.95

28,289.36

17,608.70

19,375.08

250,287.9

Oct
896.48

29,309.79

60,589.19

3,602.58

38,877.31

13,530.74

7,763.97

-

20.06

109.83

17.57

22.18

1,019.00

48,440.92

268.07

29,764.70

15,978.22

19,616.63

269,827.2

Nov
919.42

31,596.89

67,899.10

3,494.87

39,693.38

14,134.74

7,098.29

-

0.02

110.37

20.00

16.81

1,269.94

54,496.74

259.90

29,821.16

16,683.48

19,526.70

287,041.8

Dec
1,019.76

36,507.59

70,392.07

4,949.48

37,346.17

10,803.58

9,985.57

-

-

1.18

23.30

26.76

1,269.01

62,953.03

718.16

29,608.01

12,793.91

28,230.82

306,628.4

Jan
1,237.43

39,565.64

71,463.64

12,288.89

39,092.85

10,921.99

8,281.80

-

-

1.18

16.67

18.01

1,264.28

71,090.96

718.83

25,036.22

12,333.21

32,123.11

325,454.7

Feb
1,320.27

38,100.03

69,341.48

16,867.76

38,108.83

6,341.39

12,518.15

-

-

1.26

24.15

22.69

1,493.66

77,324.34

774.89

28,339.17

15,953.14

33,612.14

340,143.4

Mar
1,244.16

38,369.53

76,479.44

5,317.61

41,401.24

8,733.65

15,889.61

-

19.21

34.56

15.17

21.67

1,309.75

80,607.03

878.97

32,908.13

19,302.34

30,861.86

353,393.9

Apr
1,430.83

38,008.89

79,592.64

5,639.40

48,564.03

7,679.05

18,267.01

-

19.23

62.89

19.86

12.71

1,336.70

91,062.16

956.75

34,537.88

21,214.88

32,383.77

380,788.7

May
1,648.09

28,677.21

87,611.51

6,479.66

59,745.10

11,582.44

18,846.75

-

152.75

93.37

21.77

16.58

1,263.75

94,790.46

990.41

35,592.28

21,398.95

31,307.45

400,218.5

Jun
1,419.27

28,452.53

69,413.26

24,215.35

70,835.98

17,601.31

17,152.75

-

19.46

92.91

17.91

77.79

1,511.86

106,954.15

1,247.08

26,856.45

26,444.57

33,288.94

425,601.6

Jul
1,794.72

29,100.73

97,429.50

15,901.02

79,937.02

25,314.30

21,665.10

-

290.76

47.39

17.32

67.80

1,351.13

117,348.16

1,301.18

26,869.18

29,079.64

33,587.68

481,102.6

Aug
2,137.72

31,734.84

85,441.98

9,099.10

70,391.64

25,194.95

31,434.20

-

339.72

51.28

22.49

63.94

1,583.28

132,522.63

1,337.19

32,281.12

30,022.43

37,697.05

491,355.6

Sep
2,417.81

36,259.54

93,032.71

6,164.78

66,640.78

25,023.38

31,460.81

-

366.88

57.60

21.07

62.45

1,531.08

134,780.92

1,342.62

31,980.97

30,439.34

34,630.85

496,213.6

Oct
1,993.06

47,379.62

99,470.02

7,339.71

86,302.62

26,924.18

37,639.16

-

188.07

121.59

21.20

75.41

1,683.89

149,477.36

1,523.34

49,580.96

40,853.06

36,664.31

587,237.6

Nov
2,168.80

49,327.15

100,125.90

12,723.73

71,667.33

29,748.47

41,015.56

-

187.03

999.12

21.24

74.76

1,882.53

168,661.25

1,484.24

52,327.68

40,073.22

43,878.52

616,366.5

Dec
2,315.32

46,412.99

109,803.84

10,942.92

87,347.07

33,690.93

38,610.29

-

185.99

4,146.13

21.09

167.53

2,798.61

184,836.87

3,368.75

60,916.98

41,811.67

59,011.63

686,388.6

Jan
2,359.27

49,206.02

108,119.97

10,419.90

66,808.45

30,774.31

38,636.84

-

186.80

801.50

20.33

163.02

3,628.73

199,495.34

2,997.94

53,627.76

47,405.91

69,989.80

684,641.9

Feb
1,971.78

57,553.54

112,522.99

14,300.66

70,750.63

28,703.53

44,705.21

-

-

976.55

20.34

158.06

5,367.16

215,520.37

3,055.50

55,099.61

53,459.12

70,832.47

734,997.5

Mar
1,541.49

70,856.33

130,423.48

15,503.46

82,662.70

43,284.13

44,874.23

-

-

1,380.20

19.40

253.42

6,240.94

258,715.05

3,092.69

65,660.61

58,874.69

76,938.87

860,321.7

Apr
1,939.64

70,204.43

144,168.02

23,452.88

117,033.42

26,628.79

57,772.47

-

-

722.54

37.54

252.44

6,858.06

305,476.79

4,348.46

53,372.28

62,788.55

71,414.75

946,471.1

May
2,397.94

131,996.38

211,837.59

31,586.61

190,366.81

61,757.62

64,373.91

-

154.99

1,559.14

41.28

289.00

16,193.81

398,048.90

4,712.74

134,993.54

94,851.60

111,543.84

1,456,705.7

Jun
2,263.18

127,839.16

234,109.43

40,937.28

219,607.39

63,631.76

83,690.44

-

653.97

2,159.12

61.20

226.29

13,888.60

478,163.38

8,954.46

169,511.81

110,528.09

168,440.54

1,724,666.1

Jul
1,578.47

147,217.74

284,912.89

34,334.13

202,815.28

41,246.78

86,971.63

-

394.34

1,852.14

100.65

349.68

22,516.21

556,692.12

9,737.92

144,090.18

129,869.55

192,524.32

1,857,204.0

Aug
1,630.70

247,190.46

377,078.80

64,650.96

273,181.97

29,186.59

95,346.12

-

330.12

3,556.96

113.50

287.14

26,564.57

681,253.30

11,493.92

167,029.36

238,442.98

194,745.11

2,412,082.6

Sep
1,791.71

270,594.59

465,301.31

68,020.95

370,323.69

18,184.96

134,414.53

-

267.40

4,916.56

115.11

306.33

21,773.50

806,774.24

12,680.89

146,133.14

215,417.68

219,933.24

2,756,949.8

Oct
1,704.79

281,204.64

480,106.49

94,573.08

343,440.15

22,895.35

136,939.74

-

204.69

2,201.55

116.48

341.96

22,935.50

852,069.39

15,525.65

165,306.91

232,188.99

245,924.22

2,897,679.6

Nov
1,644.95

259,109.18

533,438.97

101,870.32

299,715.01

17,089.04

180,534.44

-

141.97

2,292.28

119.53

303.55

22,178.73

960,814.77

15,450.39

170,944.78

196,338.19

250,551.19

3,012,537.3

Dec
1,778.71

263,863.65

603,136.26

110,935.77

299,087.30

7,965.37

266,725.41

-

79.26

3,887.78

114.42

282.61

30,272.25

1,066,654.12

16,130.63

159,126.16

189,560.01

344,235.10

3,363,834.8

Jan
2,391.61

340,953.56

654,740.29

143,455.70

335,380.17

(1,443.59)

301,026.07

-

105.97

4,873.87

228.45

251.24

44,113.17

1,307,512.98

17,767.70

227,545.42

204,830.78

374,080.77

3,957,814.2

Feb
1,470.56

366,544.71

691,937.49

71,097.36

452,795.43

21,074.53

306,913.92

-

50.02

1,524.98

318.96

197.44

44,691.50

1,481,851.05

18,037.18

226,932.96

224,983.29

411,002.80

4,321,424.2

Mar
1,771.98

344,570.46

755,463.34

103,284.07

478,333.21

41,928.66

330,669.68

-

-

3,884.11

432.22

149.78

48,725.38

1,679,284.89

28,439.56

554,840.85

254,605.57

438,790.17

5,065,173.9

Apr
1,631.24

388,822.83

903,029.49

144,252.31

555,886.92

32,206.95

361,846.09

-

-

8,716.45

559.82

99.28

54,058.39

1,722,384.40

28,899.91

214,270.92

321,765.39

476,263.19

5,214,693.6

May
1,010.26

907,818.70

1,932,225.57

281,052.93

1,351,116.97

84,147.32

570,367.60

-

-

8,974.78

4,599.15

80.34

112,188.06

3,844,133.80

65,696.39

607,438.10

669,908.72

758,154.17

11,198,912.9

Jun
1,762.11

1,979,000.71

4,218,755.04

444,538.09

2,584,596.63

350,042.51

865,465.55

-

-

221.09

10,133.46

8,052.34

260,946.26

8,487,837.63

92,224.26

1,390,786.24

1,304,228.92

2,222,499.38

24,221,090.2

Jul
1,305.13

1,428,604.02

3,898,282.53

359,151.15

2,646,743.26

337,541.82

1,133,463.14

-

-

153.30

7,368.09

68.07

208,253.70

6,917,007.30

129,308.58

829,382.28

1,155,945.57

2,438,538.20

21,491,116.1

Source:Reserve Bank of Zimbabwe,2023
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 5.1: COMMERCIAL BANKS -ASSETS
$ millions
Debt Securities
Loans and Advances

ZWL$ millions
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
Debt Securities
Foreign Liabilities
RBZ
Other Depository Other Finacial
Capital
Contigent
Other
from the public
Corporations
Corporations
Corporations
and
Liablities
Liablities
TOTAL
Reserves

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Reserve Bank of Zimbabwe,2023
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

Foreign
Other Assets
Non Financial
TOTAL
End of
Notes
Assets
Bond
&
Balances
Balances with
Balances
Other Claims
Notes &
Coin
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Mortgages
Government
Other
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
16.3

322.3
1,106.8

361.8
421.8

-

283.0

20.1
-

-

478.2

-

1,498.8

717.5
1,552.8

6,779.5

Feb
14.5

368.2
977.2

612.5
370.5

-

357.1

20.1
-

1.5

503.6

-

2,097.7

735.9
1,538.8

7,597.4

Mar
20.1

529.4
1,423.7

261.8
282.6

-

341.6

19.2
-

0.6

526.4

-

2,406.4

1165.6
1,914.1

8,891.5

Apr
33.1

493.1
914.2

232.1
384.9

-

424.3

18.1
-

-

525.9

-

2,568.2

1528.5
2,134.4

9,256.8

May
39.7

434.7
1,248.4

192.3
725.0

-

382.4

17.0
-

-

517.6

-

2,793.4

2669.6
2,146.1

11,166.3

Jun
88.7

1167.9
2,857.8

395.9
1,222.0

-

385.4

13.8
-

-

653.4

-

4,663.9

2688.0
4,712.1

18,848.8

Jul
109.1

1780.7
3,878.9

1342.9
1,879.4

-

346.6

13.4
-

-

585.7

-

5,648.0

3879.5
4,927.7

24,391.8

Aug
142.9

2175.5
4,799.3

341.7
2,310.6

-

294.6

13.1
-

-

688.7

-

6,552.1

4480.3
6,104.6

27,903.4

Sep
179.8

2469.9
4,547.1

504.6
1,027.7

-

218.3

12.9
-

0.4

741.5

-

6,518.3

2774.9
6,503.8

25,499.1

Oct
149.1

2787.0
5,056.1

778.9
1,182.4

-

206.5

12.3
-

112.2

772.3

-

6,874.4

2795.4
6,537.1

27,263.4

Nov
104.3

2935.7
4,448.9

691.0
1,412.8

-

1,666.7

11.6
-

157.8

930.4

-

7,498.6

2571.1
6,712.9

29,141.9

Dec
116.2

3210.3
5,085.9

802.0
1,183.4

-

1,830.2

11.2
-

251.1

1,008.4

-

8,562.3

2559.4
7,352.9

31,973.2

Jan
188.7

2943.3
5,986.5

793.8
843.5

-

1,783.8

10.2
-

211.3

1,091.3

0.0

9,329.1

2980.3
7,685.1

33,846.9

Feb
345.7

2762.9
6,004.8

811.1
984.2

-

2,731.0

9.2
-

236.8

2,089.3

-

8,950.2

2949.2
7,790.6

35,665.0

Mar
168.3

2278.9
6,313.1

1594.4
1,028.2

-

1,341.7

8.4
-

415.1

1,242.4

-

10,867.7

3027.5
7,841.0

36,126.8

Apr
206.9

2702.1
5,302.6

1156.7
1,085.4

-

871.7

7.7
-

508.9

1,581.5

-

14,233.6

3431.1
7,237.9

38,326.2

May
210.3

1687.6
5,962.2

1250.9
3,847.1

-

116.9

7.0
-

517.7

1,568.8

-

17,154.9

2927.9
7,532.9

42,784.2

Jun
249.6

1649.7
6,202.6

1163.8
1,866.7

-

204.6

6.5
-

588.0

1,851.9

-

18,795.4

2580.9
7,701.1

42,860.7

Jul
283.7

1212.2
7,193.4

1892.7
1,875.4

-

1,143.4

6.0
-

447.3

1,963.2

-

18,280.3

3923.5
7,695.6

45,916.5

Aug
352.8

1408.8
7,869.3

2537.6
2,316.2

-

3,535.6

5.4
-

399.5

2,101.3

-

19,422.2

3837.6
7,666.6

51,453.0

Sep
349.8

1926.6
7,608.5

2430.2
1,941.4

-

4,314.6

5.1
-

205.2

2,231.7

-

20,461.1

4013.2
9,460.7

54,948.1

Oct
411.5

2396.2
8,221.0

2162.4
3,421.5

-

5,627.7

4.3
-

271.1

2,539.5

-

22,881.3

5432.3
9,501.3

62,870.1

Nov
339.8

3578.4
7,561.6

2568.8
2,299.5

-

5,882.7

3.7
-

566.4

2,788.5

-

27,326.1

4400.3
9,614.3

66,930.0

Dec
351.1

3217.3
8,557.8

2619.2
3,620.2

-

2,353.6

3.0
-

1,189.0

2,786.9

-

33,115.3

5610.8
11,334.1

74,758.3

Jan
324.6

3504.3
8,506.5

2680.3
2,631.0

-

1,110.8

2.4
-

1,487.3

2,967.6

-

35,913.5

6693.8
14,008.7

79,830.9

Feb
411.5

4021.5
9,763.6

3069.7
5,678.0

-

4,048.9

1.6
-

1,465.4

3,241.1

-

39,977.5

4511.5
13,964.4

90,154.6

Mar
354.3

4413.6
11,882.6

3691.3
4,932.3

-

5,235.0

0.9
-

1,590.0

3,888.3

-

42,741.3

9086.6
15,421.2

103,237.4

Apr
546.4

3054.1
15,585.8

4857.7
5,768.6

-

5,714.4

0.2
-

1,861.4

4,143.7

-

48,582.4

9654.2
16,999.2

116,768.1

May
639.5

8326.7
23,817.6

4251.9
16,001.6

-

6,150.9

0.0
-

1,486.3

8,474.8

-

74,864.0

14793.9
17,091.2

175,898.5

Jun
418.5

8464.3
32,497.6

3807.5
21,184.8

-

2,639.3

0.0
-

1,340.0

10,851.1

-

85,145.9

18155.8
35,128.1

219,633.0

Jul
700.4

9914.6
30,660.3

4983.4
24,902.9

-

4,077.6

0.0
-

1,411.5

13,722.1

-

98,066.0

9998.6
45,127.9

243,565.1

Aug
863.8

14422.1
33,703.2

4483.0
34,971.8

-

4,379.8

0.0
-

2,106.6

16,515.4

-

115,491.9

8745.3
45,694.0

281,377.1

Sep
1,086.8

14998.2
37,911.3

7470.1
45,094.8

-

8,440.8

0.0
-

1,302.8

17,996.8

-

129,242.7

11630.7
60,830.4

336,005.2

Oct
1,158.3

14768.7
44,296.5

10013.7
44,664.1

-

14,109.9

0.0
-

1,142.4

16,817.7

-

123,793.8

30036.4
47,678.2

348,479.7

Nov
1,449.3

22456.9
41,398.0

9771.8
41,317.6

-

17,572.6

0.0
-

2,085.3

16,785.8

-

136,029.9

30694.0
46,275.8

365,836.9

Dec
1,470.7

23012.7
48,533.8

8913.7
50,229.0

-

21,411.1

0.0
19,993.4

2,176.2

17,693.7

-

119,322.3

39279.1
69,102.5

421,138.1

Jan
2,402.7

32405.1
47,062.6

8410.8
50,364.6

-

17,976.2

0.0
23,668.5

2,406.3

18,311.0

-

132,757.4

41367.4
69,570.1

446,702.8

Feb
234.9

59685.4
50,103.0

9568.6
62,701.4

889.9

24,809.7

0.0
26,667.1

4,451.9

21,629.1

-

146,798.4

50093.6
70,987.9

528,620.9

Mar
214.6

72311.9
57,399.6

9196.8
51,300.9

-

28,841.5

0.0
24,689.0

5,503.9

19,118.6

-

170,376.6

54524.7
84,489.1

577,967.3

Apr
184.1

61341.6
63,129.5

16343.2
61,444.0

-

28,727.0

0.0
28,119.0

5,989.2

27,619.9

-

205,412.2

81442.9
86,571.2

666,323.9

May
78.1

125685.1
100,808.7

22707.0
195,646.6

-

81,344.3

0.0
69,908.9

6,246.8

53,180.7

-

440,462.4

103176.1
116,103.7

1,315,348.2

Jun
176.6

227001.8
172,666.5

25998.2
452,772.6

40,326.7

115,193.3

0.0
196,310.3

4,209.5

121,677.5

-

870,075.1

230604.4
544,587.8

3,001,600.3

Jul
162.7

132017.2
220,995.0

20797.2
459,668.2

32,010.8

105,308.6

0.0
154,472.7

13,777.8

153,638.5

-

697,177.8

209734.6
612,937.8

2,812,698.9

Source:Reserve Bank of Zimbabwe,2023
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 6.1: BUILDING SOCIETIES -ASSETS
$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Other
TOTAL
and
Liablities
End of
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Reserve Bank of Zimbabwe,2023
Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
$ millions

AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Reserve Bank of Zimbabwe,2023
/1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES
$ ('000)

END OF
AGRICULTURE
CONSTRUCTION
COMMUNICATIONS
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
INVESTMENTS
ORGANISATIONS
1,000.00

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source: Reserve Bank of Zimbabwe,2023
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
$ ('000)

End of
Nominal
Lending Rates 1
Individuals
Corporate

Jan
6.00-65.00
32.65
24.77
Feb
6.00-85.00
36.67
21.36
Mar
6.00-85.00
35.83
22.61
Apr
6.00-85.00
35.22
22.59
May
6.00-85.00
34.84
21.76
Jun
6.00-85.00
36.25
22.46
Jul
6.00-85.00
36.56
21.66
Aug
6.00-85.00
41.06
39.65
Sep
6.00-85.00
40.61
39.50
Oct
6.00-85.00
41.86
45.81
Nov
6.00-8500
39.13
38.10
Dec
6.00-8500
39.34
37.94

Jan
15.00-85.00
39.32
39.62
Feb
15.00-85.00
40.55
64.02
Mar
15.00-85.00
40.74
43.88
Apr
15.00-85.00
38.15
45.56
May
15.00-85.00
38.01
47.25
Jun
15.00-85.00
38.45
48.25
Jul
80.00-240.00
82.75
165.45
Aug
80.00-230.00
88.46
155.96
Sep
100.00-230.00
98.07
158.46
Oct
100.00-290.00
99.37
115.26
Nov
100.00-290.00
99.03
110.97
Dec
100.00-290.00
99.02
110.83

Jan
100.00-240.00
90.05
116.03
Feb
65.00-230.00
60.12
80.88
Mar
65.00-230.00
74.35
81.46
Apr
70.00-230.00
74.48
86.96
May
70.00-230.00
77.86
83.61
Jun
70.00-155.00
76.33
92.64
Jul
64.00-155.00
77.82
94.80
Source:Reserve Bank of Zimbabwe, 2023
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal lending rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Lending Rates

TABLE 8.2 : BANK DEPOSIT RATES (percent per annum)
END OF
SAVINGS
3 MONTHS

Jan
0.22-12.00
2.00-21.50
Feb
0.22-12.00
2.00-21.50
Mar
0.22-12.00
2.00-21.50
Apr
0.22-12.00
2.00-21.50
May
0.22-12.00
2.00-21.50
Jun
0.25-12.00
2.00-26.00
Jul
0.50-12.00
2.00-26.00
Aug
0.50-12.00
2.00-26.00
Sep
0.50-12.00
2.00-26.00
Oct
0.50-12.00
2.00-26.00
Nov
0.50-12.00
2.00-26.00
Dec
0.50-12.00
2.00-26.00

Jan
0.50-12.00
2.00-26.00
Feb
0.50-12.00
2.00-26.00
Mar
0.50-12.00
2.00-26.00
Apr
0.50-12.50
2.00-30.00
May
0.50-12.50
2.00-32.00
Jun
0.50-12.50
2.00-32.00
Jul
40.00
80.00-92.00
Aug
40.00
80.00-92.00
Sep
40.00
80.00-92.00
Oct
40.00
80.00-92.00
Nov
40.00
80.00-92.00
Dec
40.00
80.00-95.00

Jan
40.00
80.00-110.00
Feb
30.00
50.00-110.00
Mar
30.00
50.00-110.00
Apr
30.00
50.00-110.00
May
30.00
50.00-110.00
Jun
30.00
50.00-110.00
Jul
30.00
50.00-110.00
Source:Reserve Bank of Zimbabwe, 2023
* Deposit rates depict the range of rates qouted by banks.
COMMERCIAL BANKS

ALCOHOLIC
BEVERAGES
CLOTHING
&
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNIC
ATION
RECREATION &
EDUCATION
RESTAUR
ANTS &
MISC.
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Zimstat, 2023
*July 2020=100
FOOD & NON
ALCOHOLIC
BEVERAGES
ALL
ITEMS
TABLE 9.1 : MONTHLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)
TOTAL NON

FOOD
INFLATION
ALCO HO LIC
CLO T HING
HO US ING ,
W AT E R,
FURNIT URE
MIS C.
FO O D &
B E VE RAG E S
&
E LE CT RICT Y,
G AS
AND
RE CRE AT IO N &
RE S T AURANT S
&
G O O DS &
T O T AL NO N
NO N
ALCO HO LIC
ALL
& T O B ACCO
FO O T W E AR
& O T HE R
E Q UIP ME NT
CULT URE
HO T E LS
S E RVICE S
FO O D
B E VE RAG E S
IT E MS
FUE LS
WEIGHTS


Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Zimstat, 2023
*July 2020=100
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)
NON-FOOD INFLATION
HE ALT H
T RANS P O RT
CO MMUNICAT IO N
E DUCAT IO N

USA
SOUTH ARFICAN
BOTSWANA
JAPANESE
EURO
POUND
END OF
Dollar
RAND
PULA
YEN
STERLING

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source: Reserve Bank of Zimbabwe, 2023
TABLE 10 : SELECTED INTERNATIONAL EXCHANGE RATES
1. ZWL$ dollar per unit of foreign currency

END OF
Market Capitalisation
All Share*
ZWL$ millions

Jan

Feb

Mar

Apr

May

June*

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Zimbabwe Stock Exchange, 2023
*All Share index was introduced in January, 2018
**As at 26 June 2020
Indices
TABLE 11: ZIMBABWE STOCK MARKET STATISTICS
Market Turnover
ZWL$ million
Volume of Shares
Mining

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Reserve Bank of Zimbabwe, 2023
TABLE 12.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (ZWL$ millions)

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Reserve Bank of Zimbabwe, 2023
TABLE 12.2 : ZETSS AND RETAIL PAYMENTS
Volumes of Transactions (000's)

END OF
EXPORTS
IMPORTS
TOTAL TRADE TRADE BALANCE

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source: ZIMSTAT, 2023
TABLE 13 : MERCHANDISE TRADE STATISTICS
(US$ millions)