Vol. 27 No. 23


Week Ending
6th June 2025
Weekly Economic
Highlights
TABLE OF CONTENTS


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

1. OVERVIEW

This report provides a snapshot of the developments in the domestic monetary and financial sectors during the
week ending 06 June 2025. It features updates on the money and capital markets, national payment systems,
exchange rates, and international commodity prices.
Savings deposit rates for both local and foreign currencies remained unchanged during the week under review.
Meanwhile, local and foreign currency deposit rates for all tenors decreased, save for foreign currency deposit
rates for 3-months tenor which increased during the same week.
During the review week, the minimum and maximum local currency lending rates for individual clients
decreased, while those for corporate clients increased. Additionally, the minimum and maximum foreign
currency lending rates for both individual and corporate clients increased.
The Zimbabwe Stock Exchange (ZSE) traded in a positive trajectory, while the Victoria Falls Stock Exchange
(VFEX) recovered from the previous week’s losses. As such, both the ZSE and VFEX All-Share indices
gained 0.36% and 0.34 % to close at 197.56 points and 107.60 points, respectively.
The value of the aggregate transactions processed through the National Payment Systems platforms increased
by 23.50% from the previous week to ZiG43.53 billion. The increase in NPS transactions was a result of the
improvement in values processed through RTGS, POS, mobile banking, mobile money and ZIPIT mobile
payment platforms.
On the interbank market, the Zimbabwe Gold (ZiG) depreciated by 0.10% against the US dollar, reaching an
average rate of ZiG26.93 per US$1 during the week ending 6th June 2025, from ZiG26.90 per US$1 recorded
during the previous week.
International average prices for gold, platinum, palladium, nickel, and Brent crude oil increased, while lithium
prices declined. Gold prices rose due to increased safe-haven demand amid escalating global geopolitical
uncertainty. Platinum prices surged, driven by China's automotive market recovery and stricter emissions
regulations in Europe, leading to a tighter supply outlook.
Palladium prices edged up due to fears of supply disruptions amid the escalating Russia-Ukraine conflict.
Conversely, lithium prices continued to decline due to excess supply. Nickel prices rose as the May 2025 U.S.
jobs report showed resilience in the job market, alleviating fears of an economic slowdown that would dampen
demand for the metal. Crude oil prices strengthened as the U.S. and Chinese administrations resumed trade
negotiations, boosting optimism for economic growth in the world's two largest economies.
A total of 272.75 million kilograms were sold as of 64th day of the 2025 tobacco marketing season, surging
by 41.02% from 193.41 million kilograms sold during the same period in 2024. Similarly, the value of sales
increased to US$917.59 million in the current reporting week, a 36.61% rise from US$671.71 million reported
in the same period of the previous year. During the reporting week, the average price of the golden leaf
dropped by 3.17%, to US$3.36 per kg compared from US$3.47 per kg recorded in the same period in 2024.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
16 May 2025
23 May 2025
30 May 2025
06 June 2025
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, 2025


Average commercial bank deposit rates (Foreign Currency (US$) (%)
US$ Deposit rates
16 May 2025
23 May 2025
30 May 2025
06 June 2025
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, 2025

Commercial bank weighted lending rates (Local Currency (ZiG) (%)
ZiG Lending rates
16 May 2025
23 May 2025
30 May 2025
06 June 2025
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


Commercial bank weighted lending rates (Foreign Currency (US$) (%)
US$ Lending rates
16 May 2025
23 May 2025
30 May 2025
06 June 2025
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


Commercial banks and building societies mortgage lending rates (%)
Mortgage Lending rates
16 May 2025
23 May 2025
30 May 2025
06 June 2025
ZiG Lending rates


Minimum

Maximum

US$ Lending rates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


3. 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)
16-May-25

23-May-25

30-May-25

06-Jun-25

Weekly
Change (%)

Source: Zimbabwe Stock Exchange, 2025


VFEX Indicators
Date

All Share Index
Points
Grand Market Capitalisation
(US$ billion)
Market Turnover (US$
million)
Volume of Shares (million)
16-May-25

23-May-25

30-May-25

06-Jun-25

Weekly
Change (%)

Source: Victoria Falls Stock Exchange, 2025

Figure 1: ZSE and VFEX Indicators


Source: Zimbabwe Stock Exchange and Victoria Falls Stock Exchange, 2025


14-Feb-25
21-Feb-25
28-Feb-25
07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
US$ Thousand
VFEX Market Turnover
Trade
deal:
First
Capital Bank Limited
(1,134.27
million
shares
sold
at
(US$0.04
cents
per
share)

14-Feb-25
21-Feb-25
28-Feb-25
07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
US$ Billion
VFEX Market Capitalisation


14-Feb-25
21-Feb-25
28-Feb-25
07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
ZiG Thousands
ZSE Market Turnover
Notable trade deals: 97.69 million
Econet Wireless Zimbabwe Limited
shares,3.11 million OK Zimbabwe
Limited shares, 3.06 million shares
exchanged
hands
at
ZiG297.45
cents/share,ZiG35.90cents/share
and
ZiG12.53
cents/share,
respectively

14-Feb-25
21-Feb-25
28-Feb-25
07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
Indices
ZSE Indices
All Share Index (ZSE)
Top 10 Index
Mining Index

14-Feb-25
21-Feb-25
28-Feb-25
07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
ZiG Billion
ZSE Market Capitalisation

14-Feb-25
21-Feb-25
28-Feb-25
07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
Index
VFEX All Share Index

4. CLEARING AND SETTLEMENT ACTIVITY
Source: Reserve Bank of Zimbabwe, 2025

5. ENERGY PRICES

Energy Prices

16 May 2025
23 May 2025
30 May 2025
06 June 2025
Domestic Energy Prices
US$
US$
US$
US$
Diesel 50/ litre

Petrol Blend E20/ litre

LP Gas / kg


International Energy
Prices (Weekly average)
US$/barrel
US$/barrel
US$/barrel
US$/barrel
Crude Oil Prices
64.62
64.53
64.38

65.00
Source: Zimbabwe Energy Regulatory Authority and BBC 2025

6. 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
02-Jun-25

03-Jun-25

04-Jun-25

05-Jun-25

06-Jun-25

Source: London Bullion Market Association and Reserve Bank of Zimbabwe, 2025


PAYMENT STREAM
WEEK ENDING
30 May 2025
WEEK ENDING
06 June 2025
WEEKLY
CHANGE (%)

VALUES

RTGS
25,705,701,802.50
33,315,836,532.78
29.60
Of which ZiG
11,116,173,304.84
13,571,095,496.40
22.08
Of which US$ transactions
(ZiG Equivalent)
14,589,528,497.66
19,744,741,036.38
35.34
POS
3,334,773,471.51
3,678,145,996.94
10.30
ATM
2,159,947,692.45
2,262,243,973.25
4.74
MOBILE BANKING
132,265,546.72
124,240,481.87
(6.07)
MOBILE MONEY
3,657,191,313.18
3,800,221,298.60
3.91
ZIPIT MOBILE
256,067,613.85
348,889,216.03
36.25
TOTAL
35,245,947,440.20
43,529,577,499.47
23.50

VOLUMES

RTGS
262,547
206,064
(21.51)
Of which ZiG
114,738
82,664
(27.95)
Of which US$
147,809
123,400
(16.51)
POS
2,013,491
2,271,393
12.81
ATM
246,830
256,681
3.99
MOBILE BANKING
258,907
248,624
(3.97)
MOBILE MONEY
11,537,669
11,735,294
1.71
ZIPIT MOBILE
260,174
322,884
24.10
TOTAL
14,579,618
15,040,940
3.16

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
02-June-25
03-June-25
04-June-25
05-June-25
06-June-25
1.00Oz


US$

ZiG

0.50Oz


US$

ZiG

0.25Oz


US$

ZiG

0.10Oz


US$

ZiG

Source: Reserve Bank of Zimbabwe, 2025


7. EXTERNAL SECTOR


Exchange Rate Developments (ZiG per Unit of foreign currency)


USD
ZAR
GBP
BWP
EURO
Weekly Average
(26 – 30 May)

02-June

03-June

04-June

05-June

06-June

Weekly Average
(02 – 06 June)

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

Source: Reserve Bank of Zimbabwe, 2025


International Commodity Prices

Gold
Platinum
Palladium
Nickel
Lithium

US$/oz
US$/ounce
US$/ounce
US$/tonne
US$/tonne
Weekly Average
(26 – 30 May)

02-June

03-June

04-June

05-June

06-June

Weekly Average
(02 – 06 June)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2025

Figure 3: Weekly International Commodity Price Developments (21st March 2025– 6th June 2025)


Source: BBC, KITCO and Bloomberg, 2025


21-Mar
28-Mar
04-Apr
11-Apr
18-Apr
25-Apr
02-May
09-May
16-May
23-May
30-May
06-Jun
US$/oz
Gold

21-Mar
28-Mar
4-Apr
11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
US$/barrel
Crude oil


21-Mar
28-Mar
4-Apr
11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
US$/tonne
Platinum

21-Mar
28-Mar
4-Apr
11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
US$/tonne
Nickel

21-Mar
28-Mar
4-Apr
11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
US$/tonne
Lithium


21-Mar
28-Mar
4-Apr
11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
US$/tonne
Palladium

8. TOBACCO SALES

Weekly Cumulative Tobacco Sales: Day 64 (6th June 2025)

Variance (%)
Cumulative Quantity Sold (Kgs)
193,406,132
272,745,220
41.02
Average Price (US$/kg)
3.47
3.36
(3.17)
Cumulative value (US$)
671,706,557
917,593,309
36.61
Source: Tobacco Industry and Marketing Board (TIMB), 2025


RESERVE BANK OF ZIMBABWE
JUNE 2025