i


DECEMBER 2020

TABLE OF CONTENTS


November

December

Month-on-
Month Change
(%)
Reserve Money (M0) (ZW$ millions)
18,424.35

18,762.403

1.83

Money Supply2 (M3) (ZW$ millions)
184,348.77

204,924.863

11.16

Annual Inflation1 (%)
401.66
348.59
-53.07a

Blended Annual Inflation1 (%)
215.00
188.91
-26.09a
Monthly Inflation1 (%)
3.15
4.22
1.07a

Blended Monthly Inflation1 (%)
2.25
2.75
0.50a
National Payment System Transactions2
(ZW$ billions)
360.22
454.10
26.06
Nominal Lending Rate2
(% per annum)
6.00-65.00
6.00-65.00

Sources:
1. Zimbabwe National Statistics Agency.
2. Reserve Bank of Zimbabwe.
3. Provisional until audit is completed.
a- Percentage point.
SELECTED ECONOMIC INDICATORS

INTERNATIONAL COMMODITY PRICE
DEVELOPMENTS

The international monthly average prices for
platinum, nickel, copper and Brent crude oil
increased in December 2020. Gold prices,
however, declined in the same month. The
global economy was once again hit by resurgent
coronavirus cases, which also sent jitters among
investors in global markets, as a new variant of
the deadly virus emerged. This notwithstanding,
robust growth in China, news of the US stimulus
package and vaccine roll-outs, buoyed global
markets, with expectations of firming economic
recovery in 2021.

Precious Metals
Gold
Gold prices declined by 0.5% in December 2020
to US$1,856.89 per ounce, from US$1866.50
per ounce recorded in the previous month.
Prices eased for the fourth consecutive month,
as investors turned to riskier assets, on the back
of the roll-out of coronavirus vaccines. The
losses were, however, limited by the yellow
metal’s safe haven appeal and an unchanged
monetary policy stance by the Federal Reserve.

Platinum
Platinum prices breached the US$1,000.00 per
ounce mark in December 2020. The price of the
precious metal continued on a positive
trajectory, gaining 12.5% month-on-month,
from US$914.05 per ounce recorded in
November 2020 to US$1,027.95 per ounce,
during the month under review. Prices were
supported by the renewed US stimulus package
and greater risk sentiment amongst investors,
which supported industrial demand for the
metal. In addition, a projected deficit in the
platinum market for 2021, is expected to support
prices from the supply side.

Figure 1 shows developments in precious metal
prices for the period from December 2019 to
December 2020.

Figure 1: Precious metal prices (US$/oz.)
Source: Bloomberg, 2020

Base Metals

Copper
Copper prices continued on a positive trajectory
on account of robust economic activity in China,
the renewed US stimulus package and investor
optimism, as Covid-19 vaccines were rolled out.
Resultantly, copper prices firmed by 9.8% to a
monthly average of US$7,756.95 per tonne,
from US$7,063.43 per tonne recorded in the
previous month.

Nickel
Nickel prices registered a monthly increase of
6.4%, from US$15,796.05 per tonne to

Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
US$/oz.
Gold
Platinum

US$16,814.00 per tonne, during the month
under review. Prices were supported from the
supply-side, as industrial action in New
Caledonia and violent protests at a major
smelting plant in Indonesia prompted fears of
supply disruptions. On the demand side, prices
gained support from robust Chinese growth and
the renewed stimulus package in the US.
Figure 2: Base metal prices (US$/ton)
Source: Bloomberg, 2020

Brent Crude Oil
Brent crude oil prices surged by 14.6% on a
monthly basis, from US$43.98 per barrel in
November 2020 to US$50.41 per barrel in
December 2020. This followed the approval of
a renewed stimulus package in the US and
investor optimism over Covid-19 vaccine
approvals and roll-out programmes. These
factors renewed optimism over global economic
recovery.
Figure 3 shows developments in Brent crude oil
prices for the period from December 2019 to
December 2020.


Figure 3: International crude oil prices
(US$/barrel)

Source: Bloomberg, 2020

MERCHANDISE TRADE
DEVELOPMENTS

Total merchandise trade declined by 2.2%, from
US$1,038.2 million in November 2020 to
US$1,015.5 million, during the month under
review.
Merchandise Exports
The country’s merchandise exports eased by
7.6%, from US$528.4 million in November to
US$488.3
million
in
December
2020.
Compared to the corresponding month in 2019,
the December 2020 outturn was 0.2% lower.
The month-on-month decline was largely due to
the significant decrease in tobacco exports.
Figure 4 shows developments in the country’s
merchandise exports for the period from January
2019 to December 2020.


Dec-19
Feb-20
Apr-20
Jun-20
Aug-20
Oct-20
Dec-20
Nickel US$/ton
Copper US$/ton
Copper
Nickel (RHS)

Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
US$/barrel

Figure 4: Merchandise Exports (US$ m)

Source: ZIMSTAT, 2020

Notwithstanding the overall decline in exports,
exports for commodities such as nickel, gold,
diamonds and platinum recorded monthly
increases, as shown in Table 1.
Table 1: Exports Classified by Harmonised
Commodity Description and Code System
Commodity

Nov-20
Dec-20
Share of
Total (%)
Total Exports
528.4
488.3
100.0
Of Which:


Nickel mattes
44.4
149.2
30.5
Gold
76.5
105.3
21.6
Tobacco

16.2
Nickel
ores
and
concentrates1
54.9
64.6
13.2
Industrial diamonds
12.9
26.8
5.5
Unwrought Platinum
12.4
13.3
2.7
Ferro-chromium
15.7
4.4
0.9
Chromium
ores
and concentrates
3.3
3.2
0.7
Source: ZIMSTAT & RBZ Calculations, 2020
During the month of December 2020, the
country’s exports were mainly destined for

1 Nickel ores and concentrates, nickel matters and
unwrought platinum are components of the platinum
group of metals (PGMs).
South
Africa
(32.8%),
U.A.E
(24.1%),
Mozambique (6.2%) and Belgium (2.5%), as
shown in Figure 5.
Figure 5: Top Ten Merchandise Export
Destinations (% Share)

Source: ZIMSTAT & RBZ Calculations, 2020

Merchandise Imports
Merchandise imports rose by 3.4%, from
US$509.8 million in November to US$527.2
million in December 2020, maintaining a
sustained upward trend since July 2020. Imports
for the month under review were also higher
than in the corresponding month in 2019, as
shown in Figure 6.


Jan
Feb
Mar
Apr
May
June
July
Aug
Sep
Oct
Nov
Dec


South Africa
United Arab Emirates
Mozambique
Belgium
Zambia
Botswana
Namibia
Switzerland
United Republic of
Tanzania
Malawi

Figure 6: Merchandise Imports classified by
HS Codes 2019 & 2020 (US$ m)

Source: ZIMSTAT & RBZ Computations, 2020
The increase in imports in December 2020, was
mainly attributable to increases in monthly
imports of fertilisers, diesel and electricity. The
increase in fuel imports was partly on account of
the recovery of oil prices on the global markets.
Table 3 shows imports of major commodities
for the months of November and December
2020.


Table 2: Imports Classified by Harmonised
Commodity Description and Code
System
Commodity
Nov 20
US$ m
Dec 20
US$ m
Share of
Total
Imports
(%)
Total Imports
509.8
527.2
100.0
Of Which:


Fertiliser
Chemicals
13.0
35.1
6.7
Diesel
14.3
22.7
4.3
Electrical energy
12.2
13.7
2.6
Maize (Excluding
Seed)
16.4
13.5
2.6
Crude soya bean
oil
13.1
13.1
2.5
Other durum wheat
20.1
13.0
2.5
Medicines
3.0
11.7
2.2
Road tractors (for
semi-trailers)
6.9
9.4
1.8
Rice
10.6
7.6
1.4
Unleaded petrol
6.3
7.1
1.3
Source: ZIMSTAT & RBZ Calculations, 2020
The country’s main import sources were South
Africa (50.2%), China (9.4%), Singapore
(6.5%), and Mauritius (4.5%), as shown in
Figure 7.

Figure 7: Top Ten Merchandise Import
Sources (% Share)

Source: ZIMSTAT & RBZ Calculations, 2020

Merchandise Trade Balance
The country’s net external trade position moved
from a surplus position of US$18.6 million in
November 2020, to a deficit of US$39.0 million
in
December
2020.
Figure

shows
developments in the country’s trade balance for
the period December 2019 to December 2020.


2All monetary numbers valued in ZW$ since the adoption
of an interbank market determined exchange rate in
February 2019.
Figure 8: Merchandise Trade Balance
(US$ m)

Source: ZIMSTAT & RBZ Computations, 2020

MONETARY DEVELOPMENTS2

Broad money stood at ZW$204.92 billion3 in
December 2020, an increase of 11.16%, from
ZW$184.35 billion recorded in November 2020.
The money stock (M3) consisted of foreign
currency deposits amounting to ZW$103.73
billion or 51% of total deposits. Local currency
deposits and currency in circulation constituted
the balance. Of the local currency deposits,
transferrable (or demand) deposits amounted to
ZW$88.66 billion; time deposits, ZW$9.91
billion; and negotiable certificates of deposits,
ZW$1.44 billion. Notes and coin (currency) in
circulation stood at ZW$1.07 billion, as at endDecember 2020.
3 Based on December 2020 provisional balance sheet,
pending completion of the audit process.

South Africa
China
Singapore
Mauritius
India
United Kingdom
Mozambique
Zambia
Latvia
Saudi Arabia

Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Exports
Imports
Trade Balance

On an annual basis, the growth in foreign
currency deposits partly reflected valuation
changes owing to exchange rate changes, from
ZW$16.77 per US$1 in December 2019 to
ZW$81.79 per US$1 in December 2020. Local
currency deposits registered a growth of
351.02%, due to money multiplier effects in the
economy,
while
currency
in
circulation
increased by 32.01% over the year.
Transitory deposits, consisting of demand and
savings deposits continued to dominate the
country’s money stock, accounting for close to
90% of the deposits in money supply.
Figure 9: Composition of Money Supply

Source: Reserve Bank of Zimbabwe, 2020

The annual growth in broad money largely
reflected a 571.83% increases in credit to the
private sector. Net credit to Government
remained low due fiscal consolidation measures
being pursued by Government.
On a month-on-month basis, net claims on
Government increased by 24.09%, largely
reflecting holdings of treasury bills, while credit
to the private sector rose by 24.09%, to
ZW$74.66 billion as at end-December 2020.
Credit to the private sector was mainly extended
towards
agriculture,
26.94%;
distribution,
14.19%; financial organizations, 13.39%; and
households, 13.01%; as shown in Figure 10.

Figure 10: Distribution of Private Sector Credit
Source: Reserve Bank of Zimbabwe, 2020

Credit to the private sector was channeled
towards inventory build-up, 38.09%; other
recurrent expenditures, 28.27%; fixed capital
investment, 17.21%; and pre and post shipment
financing, 2.63%.

STOCK MARKET DEVELOPMENTS

During the month of December 2020, the
Zimbabwe
Stock
Exchange
(ZSE)
was
characterized by bullish sentiments, despite the
festive season interruption. As a result, all the
major indices recorded gains, despite the
decrease in the volume and value of shares
traded, during the period under analysis.

Local
Currency
Transferable
deposits
43.26%
Foreign
Currency
Deposits
50.62%
Time
Deposits
4.83%
Currency in
Circulation
0.59%
NCDs
0.70%
Households
13.01%
Agriculture
26.94%
Mining
10.73%
Manufacturing
11.60%
Distribution
14.19%
Construction
0.79%
Transport &
Communicat
ions
2.57%
Services
6.71%
Financial Org.
& Investments
13.39%
Other
0.07%

The Top 10, industrial, Top 15, All Share,
Medium Cap, Small Cap and mining indices
increased by 66.94%, 66.38%, 65.99%, 65.23%,
63.54%, 48.05% and 24.44%, to close at 1
671.47 points, 8 782.18 points, 1 976.98 points,
2 636.34 points, 5 491.09 points, 11 914.14
points and 4 134.09 points, respectively.

Figure 10: Zimbabwe Stock Exchange All
Share and Top 10 Indices
Source: Zimbabwe Stock Exchange, 2020
On an annual basis, the mining, All Share,
industrial and Top 10 indices gained by
1 205.53%, 1 035.52%, 1 035.51% and
709.94%, from 316.66 points, 232.17 points,
773.41 points and 206.37 points recorded in
December 2019, respectively.


Figure 11: Zimbabwe Stock Exchange
Indices
Source: Zimbabwe Stock Exchange, 2020
Despite the bullish sentiments that were
exhibited on the local bourse during the month
under review, the cumulative value and volume
of shares traded declined by 33.37% and
32.74% to ZW$2.73 billion and 316.74 million
shares, respectively.

Figure 12: ZSE Monthly Volumes and
Values Traded

Source: Zimbabwe Stock Exchange, 2020
In line with developments on the local bourse,
the market gained ZW$124.61 billion, or

31-Dec-19
31-Jan-20
29-Feb-20
31-Mar-20
30-Apr-20
31-May-20
30-Jun-20
31-Jul-20
31-Aug-20
30-Sep-20
31-Oct-20
30-Nov-20
31-Dec-20
Top 10 Index
All Share Index
All Share Index
Top 10 Index

10000
31-Dec-19
29-Feb-20
30-Apr-20
30-Jun-20
31-Aug-20
31-Oct-20
31-Dec-20
Mining Index Points
Industrial Inedx Points
Industrial
Mining


1,000
1,200
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Values Traded (ZW$ millions)
Volumes Traded (milions)
Volume
Turnover

64.47% worth of capitalization, to ZW$317.88
billion as at end of December 2020. On a yearon-year basis, local bourse capitalization
increased by 957.74%, from ZW$30.05 billion
recorded in December 2019.

INFLATION OUTTURN

Annual Inflation

Headline inflation which peaked at 837.53% in
July 2020, decelerated further from 401.66% in
November 2020 to close the year at 348.59%.
The rapid disinflation during the second half of
the year 2020, was largely attributable to the
stability in the foreign exchange market.

Annual
food
inflation
decelerated
from
385.02% in November 2020 to 346.40% in
December 2020. In the same vein, annual nonfood inflation eased from 413.85% to 350.17%
over the same period. The declines in both food
and non-food inflation culminated in the lowest
inflation rate recorded since September 2019.

Food and non-alcoholic beverages contributed
145.43 percentage points to the December
inflation rate of 348.59%, a marked increase
from the previous month. Bread and cereals and
vegetables and meat continued to drive annual
food inflation in December 2020.


Non-food inflation contributed about 203.16
percentage points to the December 2020

4The Zimbabwe National Statistical Agency (ZIMSTAT)
commenced publication of the blended CPI inflation in June
2020. The blended CPI inflation combines the average changes
inflation. Miscellaneous goods and services;
housing, water, electricity, gas and other fuels;
transport; and alcoholic beverages and tobacco
were major contributors to non-food inflation in
December 2020. The increase in housing and
energy prices was largely attributable to
maintenance of dwellings and increases in
municipality charges over the year.

Annual Blended CPI inflation4 decelerated
further, from 214.99% in November 2020 to
188.91%. The non-food component contributed
129.96 percentage points to annual blended
inflation,
while
food
and
non-alcoholic
beverages accounted for the remaining 58.95
percentage points.

Monthly Inflation

Month-on-month ZW$ inflation accelerated
from 3.15% in November 2020 to 4.22% in
December 2020. This was largely attributed to
increases in prices of food items. Non-food
inflation,
however,
remained
unchanged,
compared to the previous month.

Month-on-month food inflation rose from
3.91% in November 2020 to 6.54% in
December 2020. Fruits, meat and vegetables
recorded the largest monthly price increases in
December 2020.

The blended monthly inflation accelerated from
2.25% in November 2020 to close the year at
4.25%. This was attributed to price increases in
in price of goods and services sold in the two main currencies in
circulation, namely the ZW$ and the US$.

all categories, apart from education and
communication.

Figure 13 shows month-on-month inflation
developments for the period from November
2019 to November 2020.

Figure 13: Month-on-Month Inflation (%)

Source: ZIMSTAT, 2020

NATIONAL PAYMENTS SYSTEM

The
National
Payments
System
(NPS)
processed
transactions
amounting
to
ZW$454.10
billion
in
December
2020,
reflecting a 26.06% increase from ZW$360.22
billion recorded in November 2020. NPS
transaction volumes rose by 12.08% to close at
137.63 million, during the month under
analysis.
Zimbabwe Electronic Transfer Settlement
System (ZETSS)

Real
Gross
Settlement
System
(RTGS)
transactions were 28.12% higher, to close at
ZW$302.66 billion in December 2020, from
ZW$236.26 million in November 2020. In
volume terms, RTGS transactions increased by
13.26% to close at 1 100 043 transactions in
December 2020.
Figure 14: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2020

Cash Transactions

Cash based transactions rose by 1.57% to close
at ZW$7.13 billion, during the month under
review, from ZW$6.62 billion in the previous
month.
Mobile and Internet Based Transactions

Mobile
and
internet-based
transactions
amounted to ZW$112.31 billion in December
2020, from ZW$91.27 billion in the preceding
month.
Card Based Transactions

During the month under review, card-based
transactions increased by 22.65%, to close at
ZW$32.00 billion.

RESERVE BANK OF ZIMBABWE

Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Food
Non-Food
Overall


Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Value in ZW$ Billions
Volume in Thousands
Volume
Value

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. Total External Debt Outstanding by Debtor

11. Exchange Rates

12. Zimbabwe Stock Market Statistics

13. National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

14. Merchandise Trade Statistics

Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
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)
-47,860,547.38
-49,592,865.53 -49,769,854.91 -78,762,163.43 -108,457,657.69 -117,412,003.72 -283,986,230.81 -381,705,468.53 -407,214,233.87 -407,712,767.45 -416,421,280.93 -418,553,646.30 -420,531,764.21
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

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,2020
Notes:
(i) Depository corporations survey - formerly Monetary Survey.
(ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of 2000. Major changes include exclusion of Government deposits held by banks from broad money.
(iii) Transferable deposits made up of demand and savings deposits.
(iv) NCDs are also referred to as securities included in broad money.
(v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits.
(vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities)
(vii) Depository corporations made up of the Central Bank and other depository corporations
(viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB.
(ix) In December 2017, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank
(x) In December 2017, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Bank
(xi) In December 2018, statistics were revised from November 2017 due to reclassification of lines of credit (foreign liabilities) that were initially classified as deposits included in broad money
(xii) All monetary and financial statistics are valued in ZWL$ since the introduction of the interbank foreign exchange market in February 2019
TABLE 1: DEPOSITORY CORPORATIONS SURVEY ($'000)

Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Net Foreign Assets
-50,285,843.15 -51,596,769.75 -51,659,786.89 -78,356,892.58 -104,544,431.97 -114,377,001.26 -275,623,563.54 -366,357,650.73 -391,303,802.50 -386,104,783.47 -398,503,742.75 -398,165,536.09 -392,036,907.50
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

of which USD Securities revaluations (Ex

Loans

Loans and Advances

Legacy Debt

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)
-54,669,718.18 -57,145,180.31 -58,322,160.20 -86,517,998.56 -114,986,959.06 -125,482,666.85 -295,508,852.17 -397,084,920.55 -427,953,446.54 -425,725,999.11 -429,887,129.29 -440,784,407.01 -443,273,555.40
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

Reserve Deposits

Exess reserves

Private Deposits

Source: Reserve Bank of Zimbabwe,2020
Provisional until audit is completed
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)
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
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
32,968,794.78

34,202,472.63

36,052,337.44

45,274,086.77

49,685,009.94

57,713,065.69

97,187,347.86

127,237,814.07

140,284,498.63

147,593,137.33

161,784,545.97

179,622,031.80

200,965,243.38

Transferable Deposits
31,080,869.95

32,175,873.35

33,858,024.37

42,922,095.92

47,162,154.77

54,870,283.47

93,169,652.47

121,190,660.19

134,852,887.37

140,657,703.75

153,387,406.86

170,624,218.30

191,058,398.68

of which FCAs
11,938,732.84

12,458,349.93

12,476,934.91

20,909,726.92

19,463,088.16

24,984,322.48

57,701,775.14

79,076,606.18

82,607,196.16

88,430,395.05

91,944,864.16

100,147,096.67

102,824,762.68

Other Deposits

Money Market Instruments
243,976.57

255,563.69

260,055.92

476,793.67

337,556.97

359,194.93

863,206.40

1,024,311.11

1,111,664.44

1,083,907.10

1,231,944.90

1,237,340.99

1,436,202.84

Source:Reserve Bank of Zimbabwe,2020

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Local
Other
Notes &
Coin
with
Other Depository
with
on

Local
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
23.4

66.9

2,528.5

291.2

111.9


Feb
20.0

46.8

2,516.8

347.6

114.2


Mar
16.7

57.9

2,457.7

312.8

139.2


Apr
14.9

61.9

2,423.5

337.0

120.8


May
14.2

71.7

2,543.0

477.8

138.6


Jun
9.0

58.5

3,081.0

509.8

120.0


Jul
20.6

61.9

3,450.6

466.4

111.6


Aug
23.1

72.3

3,475.7

377.8

105.3


Sep
18.2

61.5

3,781.6

398.1

159.1


Oct
39.9

70.4

3,771.3

368.3

185.5


Nov
30.6

84.6

3,696.3

300.6

209.8


Dec
20.5

94.5

3,949.5

439.6

235.5


Jan
49.0

113.4

3,901.0

401.9

261.6


Feb
59.7

256.8

3,764.8

357.1

570.4


Mar
62.5

263.2

3,891.0

432.9

739.3


Apr
45.2

363.5

4,153.9

578.9

1,031.9


May
98.7

484.2

4,089.2

694.1

1,890.1


Jun
126.3

882.2

4,518.6

560.2

2,383.0


Jul
232.4

968.8

5,605.6

370.4

3,738.0


Aug
184.4

1,150.4

7,956.5

527.8

3,904.2


Sep
124.5

2,108.5

9,128.1

874.0

5,678.3


Oct
144.3

1,906.0

11,613.0

2,511.0

7,644.9


Nov
128.8

2,243.1

11,417.7

2,236.3

8,417.4


Dec
169.8

2,526.2

13,994.1

1,254.7

8,415.7


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


Source:Reserve Bank of Zimbabwe,2020
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

June

July

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

Source:Reserve Bank of Zimbabwe,2020
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
22.40

64.10

2,294.49

192.08

103.42

81.91

2,143.23

-

23.45

65.90

26.32

20.59

154.85

2,451.11

28.68

500.96

294.22

538.92

9,006.6

Feb
18.34

43.97

2,296.76

223.72

108.28

96.17

2,109.34

-

23.45

66.10

24.29

21.11

145.03

2,461.49

28.67

507.82

290.62

536.35

9,001.5

Mar
14.81

53.62

2,238.77

240.67

124.48

99.51

2,164.00

-

23.45

66.69

19.16

15.90

127.10

2,535.82

30.40

504.13

325.78

552.34

9,136.6

Apr
13.47

56.67

2,207.91

274.97

116.75

78.50

2,314.90

-

24.75

66.97

13.44

20.89

120.77

2,519.81

28.31

531.98

298.96

554.95

9,244.0

May
12.85

62.77

2,308.95

339.50

130.13

85.74

2,562.36

-

24.97

66.94

8.44

20.88

134.01

2,556.25

23.90

458.93

307.90

555.31

9,659.8

June
7.48

52.61

2,848.51

331.76

117.26

84.05

2,538.32

-

26.19

66.55

7.44

19.43

196.00

2,662.21

25.46

551.39

302.93

563.41

10,401.0

July
17.85

54.25

3,189.62

281.13

109.31

95.43

2,949.15

-

-

67.49

4.51

21.01

181.99

2,414.59

26.03

611.36

322.53

565.15

10,911.4

Aug
21.01

67.83

3,196.71

232.34

102.46

66.26

3,014.90

-

-

67.29

7.05

20.62

186.74

2,490.99

29.82

647.67

329.42

566.33

11,047.4

Sep
16.25

58.19

3,487.91

305.30

137.84

78.01

2,789.78

-

45.21

68.09

5.42

20.39

212.17

2,577.06

36.68

637.41

357.43

571.83

11,405.0

Oct
33.06

67.98

3,505.83

272.14

173.15

51.45

2,728.83

-

45.21

68.41

4.59

9.35

188.83

2,697.37

38.71

647.52

353.24

569.20

11,454.9

Nov
25.84

81.42

3,384.38

264.64

198.18

63.91

2,793.90

-

45.21

68.65

6.99

8.13

217.69

2,672.32

46.06

633.21

406.55

569.81

11,486.9

Dec
18.17

89.91

3,736.98

317.34

224.44

74.84

2,633.69

-

43.37

69.16

6.20

9.18

204.31

2,707.60

53.75

573.76

406.16

633.85

11,802.7

Jan
42.05

106.91

3,766.70

338.09

249.77

46.14

2,621.20

-

61.02

68.66

4.41

8.06

189.15

2,594.53

33.84

517.24

428.82

649.94

11,726.5

Feb
52.63

238.67

3,601.94

293.36

549.59

205.65

2,675.29

-

60.52

2.00

5.84

7.71

208.31

2,784.17

31.04

490.74

472.78

696.82

12,377.1

Mar
59.17

244.62

3,729.81

393.22

712.08

55.05

2,635.68

-

61.52

4.53

4.27

9.53

340.66

2,660.90

25.33

523.72

755.57

971.53

13,187.2

Apr
40.82

331.97

3,876.83

492.10

981.80

91.75

2,590.97

-

61.79

3.95

3.98

9.62

407.85

2,721.57

24.55

620.52

935.27

1,002.47

14,197.8

May
94.59

444.70

3,886.07

571.50

1,747.69

154.08

2,508.43

-

62.12

4.20

3.93

9.43

636.78

3,056.86

34.46

910.14

1,832.95

1,142.77

17,100.7

Jun
119.69

810.71

4,104.17

413.18

2,244.98

538.88

2,596.97

-

63.09

6.62

3.89

8.73

929.36

3,667.45

37.02

1,606.53

1,374.23

1,621.33

20,146.8

Jul
224.75

791.31

5,081.19

275.44

3,602.89

801.93

2,640.55

-

103.36

5.49

2.18

9.00

164.58

4,043.75

32.65

1,587.68

1,873.44

1,722.66

22,962.9

Aug
178.74

1,054.06

7,123.10

461.83

3,778.75

1,050.74

3,106.90

-

103.86

6.78

1.04

9.21

212.50

4,430.78

37.42

2,614.64

1,744.16

1,989.27

27,903.8

Sep
108.51

1,915.41

8,246.09

676.17

5,563.16

1,575.75

3,240.85

-

26.96

6.47

1.37

9.40

187.53

4,993.71

42.30

3,707.80

3,074.10

2,440.63

35,816.2

Oct
138.01

1,702.35

10,537.81

2,437.08

7,376.80

906.98

3,416.23

-

27.05

5.29

1.15

7.94

254.84

5,859.32

41.94

4,081.09

1,658.19

2,434.21

40,886.3

Nov
113.92

2,078.54

10,430.55

2,073.35

7,977.27

940.70

3,737.72

-

27.15

11.83

1.37

8.74

248.79

7,670.96

42.07

3,148.28

1,627.27

3,059.40

43,197.9

Dec
158.44

2,300.01

12,821.54

934.73

7,898.48

1,984.08

3,716.31

-

24.75

20.65

1.33

8.11

268.61

8,976.00

61.84

4,867.67

2,740.16

6,935.56

53,718.3

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

Source:Reserve Bank of Zimbabwe,2020
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 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

Source:Reserve Bank of Zimbabwe,2020
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
0.9

2.3

197.4

98.7

7.8

-

129.8

34.5

-

-

413.2

-

508.7

144.9

136.1

1,674.3

Feb
1.5

1.8

172.4

123.5

5.5

-

141.3

33.5

-

-

414.8

-

507.9

125.7

135.7

1,663.6

Mar
1.4

3.4

175.9

72.1

14.1

-

212.6

32.8

-

-

411.4

-

539.4

142.8

132.3

1,738.2

Apr
1.1

4.3

185.5

61.9

3.6

-

184.4

32.0

-

-

413.3

-

582.7

141.6

135.2

1,745.7

May
1.0

7.6

196.3

138.2

8.1

-

191.0

30.9

-

-

415.0

-

608.4

128.1

137.4

1,862.0

June
1.2

4.9

188.6

177.8

1.9

-

266.2

30.1

-

-

413.9

-

614.3

124.0

141.5

1,964.5

July
1.8

6.6

207.1

185.1

1.7

-

283.2

33.3

-

-

423.5

-

636.1

128.2

141.1

2,047.7

Aug
1.6

3.7

224.7

145.3

2.4

-

288.9

32.2

-

-

428.2

-

579.4

139.1

143.7

1,989.2

Sep
1.9

2.9

245.6

92.6

20.8

-

291.1

31.2

-

-

430.3

-

650.2

148.1

144.4

2,059.1

Oct
4.9

2.1

220.0

95.8

11.9

-

318.9

30.2

-

-

427.7

-

639.8

154.2

147.0

2,052.5

Nov
3.6

2.9

243.3

35.7

10.4

-

320.7

28.9

-

-

433.5

-

635.7

148.0

145.8

2,008.5

Dec
2.3

4.3

157.4

121.3

10.4

-

339.4

28.0

-

-

444.8

-

645.9

179.7

151.9

2,085.6

Jan
6.3

4.6
108.2

63.5
10.9

0.0
343.8

27.3
33.6

0.0
438.0

0.0
649.3

136.7
151.2

1973.3
Feb
5.4

17.6
120.6

62.8
18.1

-

339.6

26.5
-

-

416.1

-

696.1

171.1
156.7

2,030.8

Mar
2.6

18.0
126.3

38.6
23.9

-

331.7

25.5
-

-

415.1

-

710.1

172.1
207.4

2,071.2

Apr
3.7

30.6
220.3

85.0
47.6

-

271.6

25.0
-

-

414.1

-

705.0

169.0
276.2

2,247.8

May
3.9

38.4
162.2

115.4
139.0

-

345.5

23.9
-

-

406.2

-

776.6

165.7
363.4

2,540.1

Jun
6.3

69.8
361.6

144.5
132.4

-

265.8

22.6
-

-

421.7

-

873.6

210.5
473.0

2,981.8

Jul
6.5

174.7
473.9

89.7
131.1

-

258.3

22.2
-

-

416.0

-

934.6

203.1
565.6

3,275.8

Aug
5.5

94.5
758.0

60.6
115.5

-

247.4

21.5
-

-

418.1

-

970.6

345.1
567.6

3,604.2

Sep
15.8

180.3
831.8

195.4
104.2

-

267.6

20.9
-

-

499.1

-

1,137.6

528.8
1,042.2

4,823.6

Oct
6.2

198.7
997.2

72.2
243.7

-

268.8

20.2
-

-

429.8

-

1,286.7

503.4
1,069.3

5,096.2

Nov
11.9

156.1
872.3

159.7
426.0

-

338.6

19.6
-

-

443.5

-

1,357.4

575.8
1,068.7

5,429.6

Dec
9.2

223.9
1,016.9

317.4
492.3

-

308.3

18.2
-

-

454.5

-

1,413.5

700.6
1,470.0

6,424.9

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

Source:Reserve Bank of Zimbabwe,2020
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

June

July

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

Source:Reserve Bank of Zimbabwe,2020
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


1,000.0

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

Source:Reserve Bank of Zimbabwe,2020
/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
1,000.0

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

Source: Reserve Bank of Zimbabwe,2020
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
$ ('000)

End of
Nominal
Lending
Rates 1
Individuals
Corporate

Jan
4.45-18.00
9.33
6.99
Feb
4.45-18.00
9.57
6.93
Mar
4.45-18.00
9.64
6.98
Apr
4.00-18.00
9.32
7.08
May
4.00-18.00
9.28
7.09
Jun
4.00-18.00
9.32
7.14
Jul
4.00-18.00
9.75
6.97
Aug
4.00-18.00
9.87
7.10
Sep
4.00-18.00
9.56
7.11
Oct
4.00-18.00
9.47
7.38
Nov
4.00-18.00
9.49
7.38
Dec
4.00-18.00
9.48
7.39

Jan
4.00-18.00
9.47
7.40
Feb
4.00-18.00
9.23
7.30
Mar
4.00-18.00
9.23
7.31
Apr
4.00-18.00
9.30
7.38
May
4.00-22.00
9.31
7.33
Jun
4.00-22.00
9.15
7.67
Jul
4.00-35.00
9.54
8.40
Aug
5.00-55.00
14.37
18.43
Sep
5.00-65.00
14.64
19.81
Oct
5.00-65.00
15.59
19.66
Nov
5.00-65.00
15.06
18.00
Dec
5.00-65.00
16.08
18.31

Jan
5.00-65.00
16.56
17.20
Feb
5.00-65.00
16.92
16.68
Mar
5.00-65.00
19.65
17.21
Apr
5.00-65.00
18.57
18.69
May
5.00-65.00
18.06
18.07
June
5.00-65.00
20.04
17.38
July
5.00-65.00
18.87
20.11
Aug
6.00-65.00
19.14
18.99
Sep
6.00-65.00
20.65
25.09
Oct
6.00-65.00
26.04
26.68
Nov
6.00-65.00
30.32
27.67
Dec
6.00-65.00
32.11
26.91
Source:Reserve Bank of Zimbabwe, 2020
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
0.75-8.00
Feb
0.22-12.00
0.75-8.00
Mar
0.22-12.00
0.75-8.00
Apr
0.22-12.00
0.75-8.00
May
0.22-12.00
0.75-8.00
Jun
0.22-12.00
0.75-8.00
Jul
0.22-12.00
0.75-8.00
Aug
0.22-12.00
0.75-8.00
Sep
0.22-12.00
0.75-8.00
Oct
0.22-12.00
0.75-8.00
Nov
0.22-12.00
1.00-8.00
Dec
0.22-12.00
1.00-6.75

Jan
0.22-12.00
1.00-8.00
Feb
0.22-12.00
1.00-6.75
Mar
0.22-12.00
1.00-8.00
Apr
0.22-12.00
1.00-8.00
May
0.22-12.00
1.00-8.00
Jun
0.22-12.00
1.00-8.00
Jul
0.22-12.00
1.00-8.00
Aug
0.22-12.00
1.00-8.00
Sep
0.22-12.00
1.00-8.00
Oct
0.22-12.00
1.00-8.00
Nov
0.22-12.00
1.00-8.00
Dec
0.22-12.00
1.00-8.00

Jan
0.22-12.00
1.00-8.00
Feb
0.22-12.00
1.00-8.00
Mar
0.22-12.00
1.00-8.00
Apr
0.22-12.00
1.00-8.00
May
0.22-12.00
1.00-8.00
Jun
0.22-12.00
1.00-8.00
Jul
0.22-12.00
1.33-14.00
Aug
0.50-15.00
1.00-20.28
Sep
0.50-15.00
1.00-20.28
Oct
0.50-15.00
1.00-20.28
Nov
0.50-15.00
1.00-20.28
Dec
0.50-15.00
1.00-20.28
Source:Reserve Bank of Zimbabwe, 2020
* Deposit rates depict the range of rates qouted by banks.
**Banks have adjusted their costs of holding deposits following the
call by the RBZ to reduce lending rates.
COMMERCIAL BANKS

ALCOHOLIC
BEVERAGES
CLOTHING
&
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNIC
ATION
RECREATION
&
EDUCATION
RESTAUR
ANTS &
MISC.
TOTAL NON
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
FOOD
& OTHER
EQUIPMEN
T
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

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

FOOD
INFLATION
ALCOHOLIC
CLOT HING
HOUS ING,
W AT E R,
FURNIT URE
MIS C.
FOOD &
B E VE RAGE S
&
E LE CT RICT Y,
GAS
AND
RE CRE AT ION &
RE S T AURANT S
&
GOODS &
T OT AL NON
NON
ALCOHOLIC
ALL
& T OB ACCO
FOOT W E AR
& OT HE R
E QUIP ME NT
CULT URE
HOT E LS
S E RVICE S
FOOD
B E VE RAGE S
IT E MS
FUE LS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun


Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source:Zimstat, 2020
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)
NON-FOOD INFLATION
HE ALT H
T RANS P ORT
COMMUNICAT ION
E DUCAT ION

(US$ MILLIONS)
End Period

Est
Long-Term External Debt

Government

Bilateral Creditors

Multilateral Creditors

Private Creditors

Public Enterprises


Bilateral Creditors

1,155

Multilateral Creditors

Private Creditors

Monetary Authorities

Multilateral Creditors - IMF

Private


Short-Term External Debt
1,348
2,040
1,286


Supplier's Credits

Reserve Bank

1,300

2,463
Private


Total External Debt

Source: Ministry of Finance & Economic Development, 2019; & Reserve Bank of Zimbabwe, 2020
TABLE 10: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)

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

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source: Reserve Bank of Zimbabwe, 2020
TABLE 11 : SELECTED INTERNATIONAL EXCHANGE RATES
1. ZWL$ dollar per unit of foreign currency

Market Capitalisation
END OF
All Share*
ZWL$ millions

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

June*

Aug

Sep

Oct

Nov

Dec

Source:Zimbabwe Stock Exchange, 2020
*All Share index was introduced in January, 2018
**As at 26 June 2020
Indices
TABLE 12: ZIMBABWE STOCK MARKET STATISTICS
Industrial
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
6,903.0
2.9 1,294.05
16.9 3,608.83 1,056.16
Feb
8,337.0
4.0 1,330.58
17.2 3,594.51 1,093.64
Mar
9,881.5
3.9 1,399.50
18.3 4,080.65 1,250.55
Apr
10,321.4
3.1 1,590.10
14.0 4,949.34 1,408.53
May
14,670.3
4.2 1,397.48
11.8 6,692.55 1,897.82
Jun
17,881.2
3.7 1,464.66
30.1 7,130.02 2,539.84
Jul
23,309.9
3.7 1,806.45
36.6 9,137.36 3,295.81
Aug
23,596.6
2.4 2,181.56
38.5 11,077.65 3,493.56
Sep
30,328.1
3.8 3,029.87
51.9 15,112.00 5,337.71
Oct
39,413.7
3.9 3,621.64
67.1 16,588.28 6,237.03
Nov
40,871.8
3.5 4,199.30
67.4 13,537.77 7,200.30
Dec
49,579.8
2.8 5,695.39
97.2 19,356.74 8,724.02

Jan
47,841.3
1.8 5,236.3 115.2 21,247.9 9,646.8
Feb
41,637.6
4.7 5,431.8 136.9 22,589.7 9,633.8
Mar
60,804.1
4.1 7,252.9 268.0 27,993.6 14,411.4
Apr
47,525.5
0.0 4,150.6 82.6 18,299.2 11,481.8
May
59,271.1
0.0 7,426.0 349.8 24,851.5 19,593.2
Jun
91,311.3
0.0 9,752.7 516.6 26,042.5 25,842.3
Jul
127,743.2
0.0 14,741.1 1,028.7 26,033.3 35,199.7
Aug
143,042.1
0.0 14,953.6 1,547.5 27,217.6 34,505.0
Sep
203,172.0
0.8 18,252.3 1,963.0 26,441.0 41,958.4
Oct
198,863.56
0.0
22,482.28 2,163.27 42,767.66 46,270.42
Nov
236,231.56
0.0
23,936.70 2,151.61 36,475.66 54,797.79
Dec
302,661.15
- 30,061.03 1,935.29 45,278.12 67,038.24
Source:Reserve Bank of Zimbabwe, 2020
TABLE 13.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (ZWL$ millions)

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan
548.1
22.7 20,981.2 449.6 100,593.9
501.8
Feb
457.2
22.5 18,869.0 292.2 89,584.3
463.8
Mar
545.2
23.7 21,996.8 268.4 116,120.0
510.5
Apr
505.5
17.4 21,170.0 253.6 117,616.8
457.0
May
611.1
21.2 23,278.2 213.2 137,423.0
496.6
Jun
553.6
22.5 23,790.0 175.2 156,609.8
502.2
Jul
560.2
20.1 25,075.5 223.1 169,416.8
559.6
Aug
553.0
15.1 25,249.9 317.4 164,918.0
518.7
Sep
543.0
19.4 24,918.0 300.8 161,289.5
511.3
Oct
571.6
20.4 21,025.4 345.5 161,427.4
496.0
Nov
477.4
16.7 17,845.4 334.9 133,862.1
430.6
Dec
478.6
13.0 27,419.1 236.2 161,540.7
409.1
Annual Total
6,404.4
234.6 271,618.6 3,410.1 1,670,402.1
5,857.13

Jan
401.5
12.2 40,613.8 232.6 135,481.1
413.4
Feb
456.5
16.4 27,811.2 226.8 119,081.1
463.6
Mar
525.9
15.4 30,417.6 248.9 142,597.8
441.0
Apr
535.0
13.7 32,092.5 168.8 157,348.3
390.1
May
642.6
14.7 15,542.6 121.4 166,491.6
494.3
Jun
706.0
13.3 18,012.1 79.6 160,873.0
486.8
Jul
983.5
13.6 20,465.4 99.6 170,823.3
638.2
Aug
872.9
9.0 21,919.8 85.2 179,281.2
542.3
Sep
1,010.7
11.9 22,749.6 62.4 200,441.9
679.4
Oct
1,079.4
12.7 23,191.6 65.0 206,621.5
1,099.3
Nov
982.1
10.3 25,737.5 225.2 152,919.9
2,044.1
Dec
1,003.8
7.6 27,800.5 385.5 146,316.6
1,273.6

Jan
943.3 4.6 23,649.0 199.9 139,278.2 671.7
Feb
916.1 8.9 21,652.2 196.6 149,671.5 647.8
Mar
1,068.5 7.4 22,588.1 234.3 173,042.2 661.2
Apr
515.1
- 11,036.4 36.4 131,190.0 998.0
May
674.1
- 14,711.6 231.2 150,936.1 705.3
Jun
907.8
- 14,420.9 286.1 135,524.3 1,390.4
Jul
918.4
- 15,786.5 251.4 121,072.4 791.9
Aug
789.4
- 13,536.2 248.2 127,308.6 702.1
Sep
911.9 0.002 15,524.1 309.8 125,059.2 783.2
Oct
990.2
- 19,138.6 398.8 191,148.8 735.8
Nov
971.3
- 17,584.9 430.0 101,305.8 755.6
Dec
1,100.0
- 19,404.0 453.0 115,290.2 820.1
Source:Reserve Bank of Zimbabwe, 2020
TABLE 13.2 : 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

Total


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source: ZIMSTAT, 2020
TABLE 14 : MERCHANDISE TRADE STATISTICS
(US$ millions)