Vol. 27 No. 24


Week Ending
13th 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 13 June 2025. It features updates on the money and capital markets, national payment systems,
exchange rates and international commodity prices.
Both foreign and local currency deposits rates remained unchanged at previous week levels, except for
maximum deposit rates for 1-month and 3-months tenor which increased. Minimum and maximum local
currency lending rates for individual clients increased during the week under analysis. Meanwhile, minimum
local currency lending rates for individual clients remained unchanged, while maximum lending rates
decreased. Foreign currency lending rates for both individual and corporate clients increased during the same
week.
During the week ending 13th June 2025, both the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls
Stock Exchange (VFEX) exhibited bearish sentiments. Resultantly, the ZSE and the VFEX all share indices
lost 1.31% and 0.20% to close at 194.97 points and 107.39 points, respectively.
The aggregate transactions processed, in value terms, through the National Payment Systems platforms
decreased by 7.98% from ZiG43.53 billion to ZiG40.06 billion. The decline in NPS transactions was
underpinned by decreases in values processed through RTGS, POS, ATM, mobile banking, and ZIPIT mobile
payment platforms.
The local currency, Zimbabwe Gold (ZiG) depreciated by 0.13%, on the interbank market, from an average
of ZiG26.93 per US$1 recorded in the previous week, to ZiG26.97 per US$1 during the week ending 13th June
2025.
International weekly average prices for platinum, palladium and brent crude oil increased, while prices for
gold, nickel and lithium retreated, during the week ending 13th June 2025. Platinum prices surged driven by
persistent supply shortages of the metal in the market. Palladium prices increased, reflecting strong industrial
demand, from the automotive sectors, compounded by ongoing supply challenges. Brent crude oil prices
surged by 7.86%, fuelled by escalating tensions between Israel and Iran which sparked fears of possible
disruptions to crude oil supplies from the Middle East, a region that accounts for about one-third of the world’s
oil production.
Gold prices however, retreated during the week under analysis, attributed to renewed optimism over a potential
trade deal between the U.S and China, which prompted shifts in investor sentiment and market dynamics.
Lithium prices continued on a negative trajectory weighed down by ongoing concerns about oversupply with
elevated inventory levels, coupled with slower-than-expected demand growth from key sectors such as electric
vehicles and energy storage. Nickel prices decreased driven by oversupply in the market, stemming from a
sharp increase in production in Indonesia, which currently contributes approximately 63% of global output.
A total of 292.50 million kilograms of tobacco had been sold as of the 69th day of the 2025 tobacco marketing
season, marking a 43.88% increase from the 203.29 million kilograms sold during the same period in 2024.
Sales values rose by 39.65% to US$982.45 million in the reporting period, from US$703.50 million reported
in the same period in 2024. The average price of the golden leaf was US$3.36 per kg during the reporting
period, compared to US$3.46 per kg recorded in the same period in the prior year.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
23 May 2025
30 May 2025
06 June 2025
13 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
23 May 2025
30 May 2025
06 June 2025
13 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
23 May 2025
30 May 2025
06 June 2025
13 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
23 May 2025
30 May 2025
06 June 2025
13 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
23 May 2025
30 May 2025
06 June 2025
13 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)
23-May-25

30-May-25

06-Jun-25

13-June-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)
23-May-25

30-May-25

06-Jun-25

13-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


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
13-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)

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
13-Jun-25
US$ Billion
VFEX Market Capitalisation


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
13-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

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
13-Jun-25
Indices
ZSE Indices
All Share Index (ZSE)
Top 10 Index
Mining Index

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
13-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
13-Jun-25
Index
VFEX All Share Index

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

5. ENERGY PRICES

Energy Prices

23 May 2025
30 May 2025
06 June 2025
13 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
64.53
64.38

65.00
70.11
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
09-Jun-25

10-Jun-25

11-Jun-25

12-Jun-25

13-Jun-25

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


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

VALUES

RTGS
33,315,836,532.78
31,434,420,687.07
-5.56
Of which ZiG
13,571,095,496.40
12,508,251,447.79

Of which US$ transactions
(ZiG Equivalent)
19,744,741,036.38
18,926,169,239.28


POS
3,678,145,996.94
2,659,897,153.06
-27.68
ATM
2,262,243,973.25
1,618,931,434.10
-28.44
MOBILE BANKING
124,240,481.87
97,728,706.99
-21.34
MOBILE MONEY
3,800,221,298.60
4,002,056,196.74
5.31
ZIPIT MOBILE
348,889,216.03
242,579,990.55
-30.47
TOTAL
43,529,577,499.47
40,055,614,168.51
-7.98

VOLUMES

RTGS
206,064
167,631
-18.65
Of which ZiG
82,664
68,534

Of which US$
123,400
99,097

POS
2,271,393
1,624,166
-28.49
ATM
256,681
178,746
-30.36
MOBILE BANKING
248,624
168,651
-32.17
MOBILE MONEY
11,735,294
11,948,962
1.82
ZIPIT MOBILE
322,884
229,574
-28.90
TOTAL
15,040,940
14,317,730
-4.81

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
09-June-25
10-June-25
11-June-25
12-June-25
13-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
(2 June-6 June)

09-June

10-June

11-June

12-June

13-June

Weekly Average
(09 – 13 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)

09-June

10-June

11-June

12-June

13-June

Weekly Average
(09 – 13 June)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2025

Figure 3: Weekly International Commodity Price Developments (28th March 2025– 13th June 2025)


Source: BBC, KITCO and Bloomberg, 2025


28-Mar
4-Apr
11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
13-Jun
US$/oz
Gold

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


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

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

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


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

8. TOBACCO SALES

Weekly Cumulative Tobacco Sales: Day 69 (13th June 2025)

Variance (%)
Cumulative Quantity Sold (Kgs)
292,501,135
203,290,423
43.88
Average Price (US$/kg)
3.36
3.46
-2.89
Cumulative value (US$)
982,445,253
703,497,321
39.65
Source: Tobacco Industry and Marketing Board (TIMB), 2025


RESERVE BANK OF ZIMBABWE
JUNE 2025