i


March 2024

TABLE OF CONTENTS


OVERVIEW
Annual headline inflation rose to 55.3% in
March 2024 from 47.6% in February 2024.
This was, partly, attributable to the depreciation
of the local currency against major currencies
during the month and effects of adverse
inflation expectations in the economy.


The annual growth in broad money increased
from 442.41% registered in March 2023 to
1751.81% in March 2024. The growth in
money supply largely reflected the depreciation
of the exchange rate, which increased from
ZW$929.86/USD at the beginning of March
2023 to ZW$22,055.47/USD at the end of the
month.


During the month of March 2024, the
Zimbabwe Stock Exchange (ZSE) was bullish.
The All Share, Top 10, Top 15, Small and
Medium Cap indices rose by 66.16%, 68.91%,
71.48%, 0.86% and 51.84%, respectively.

The Victoria Falls Stock Exchange (VFEX)
also recovered from losses registered in
February 2024. The All-Share index added by
2.50% to close at 101.06 points, from 98.59
points registered in February 2024.


The total value of the transactions processed
through the National Payment Systems (NPS)
increased by 45% from ZW$79.13 trillion in
February 2024 to ZW$114.87 trillion in March
2024.

The volume of transactions that went through
the NPS increased by 10% to 68.31 million in
the reporting month from 61.96 million in
February 2024.

The country’s merchandise exports declined
17.1% from US$644 million in February 2024
to US$534.7 million in March 2024. The
decrease was mainly on account of the declines
in tobacco exports. Monthly exports for March
2024 were 3.8% higher compared to US$515.3
million recorded in the corresponding month in
2023.

INTERNATIONAL COMMODITY
PRICE DEVELOPMENTS
International commodity prices for gold,
palladium, copper, nickel, brent crude oil and
lithium firmed during the month under review.
The precious metals were boosted by their
strong demand as safe havens and the
anticipation of interest rate cuts in the United
States. Table 1 shows the developments in
international prices for selected commodities,
during the month under analysis.

Table 1: International Commodity Prices
for February and March 2024
Commodity
Feb-24
Mar-24
Monthly
changes (%)
Gold
US$/oz
2,024.21
2,156.49
6.53
Platinum
US$/oz
894.81
911.08
1.82
Palladium
US$/ounce
938.31
1,016.08
8.29
Copper
US$/tonne
8,410.88
8,796.98
4.59
Nickel
US$/tonne
16,582.14
17,645.03
6.41
Brent Crude
oil
US$/barrel
81.5
84.62
3.83
Lithium
US$/tonne
13,249.05
13,273.80
0.19
Source: Bloomberg, 2024
Gold
Gold prices increased by 6.53%, from
US$2,024.21 per ounce in February 2024 to
US$2,156.49 per ounce in March 2024.

Platinum
Platinum prices increased during the reporting
month reflecting improved market sentiments
as
the
weaker-than-expected
economic
performance of the U.S. economy ramped up
expectations of monetary easing. As a result,
platinum prices gained by 1.82%, from an
average of US$894.81 per ounce in the
previous month to US$911.08 per ounce in
March 2024.
Palladium
Palladium prices increased by 8.29% to
US$1,016.08 per ounce during the reporting
month, from US$938.31 per ounce recorded in
February 2024. This was on the back of
expectations of stimulus growth from China, a
major consumer of metals shown in Figure 1.
Figure 1: Monthly Precious Metal Prices (in
US$ per Ounce): Mar 2021 – Mar 2024

Source: Bloomberg, 2024

Brent Crude Oil
Brent crude oil prices firmed by 3.83%, from
an average of US$81.5 per barrel in February
2024 to US$84.62 per barrel in March 2024.
The increase in oil prices was largely driven by
indications of strong demand in China and
concerns over Ukrainian drone strikes on some
Russian oil refineries. Brent crude oil prices for
the period from March 2021 to March 2024 are
shown in Figure 2.
Figure 2: Brent Crude Oil Prices
(US$/Barrel) Mar 2021 – Mar 2024
Source: Bloomberg, 2024

Copper
Copper
prices
increased,
amid
Chinese
economic data indicating hopes of recovery in
demand and expectations of output cuts. As
such, the red metal’s monthly average price
rose by 4.59%, from US$8,410.88 per tonne
recorded in the prior month to US$8,796.98 per
tonne during the month under analysis.
Nickel
Nickel prices increased by 6.41%, from a
monthly average of US$16,582.14 per tonne
recorded
in
the
previous
month
to
US$17,645.03 per tonne in March 2024. Figure
3 shows base metal price developments for the
period from March 2021 to March 2024.


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
Sep-23
Nov-23
Jan-24
Mar-24
US$/ounce
US$/ounce
Gold
Palladium
Platinum (RHS)

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
Sep-23
Nov-23
Jan-24
Mar-24
US$/barrel

Figure 3: Base Metal Prices (US$/tonne):
Mar 2021 – Mar 2024
Source: Bloomberg 2024


Lithium
During the month of March 2024, lithium
prices increased by 0.19%, from US$13,249.05
per tonne in the prior month to US$13,273.80
per tonne. Lithium price developments between
March 2023 and March 2024 are shown in
Figure 4.

Figure 4: Lithium Prices (US$/tonne) March
2023 – March 2024
Source: London Metal Exchange, 2024

Merchandise Trade Developments
During the month under review, the country’s
total merchandise trade for March 2024 stood
at US$1,253.7 million, which was 8.8% lower
compared to the US$1,369.4 million recorded
in the previous month.
The decline in total trade was attributed to a
decrease in both imports and exports during the
reporting month. On a yearly basis, total
merchandise trade fell by about 0.6%, from
US$1,261.7
million
recorded
in
the
corresponding month in 2023.

Merchandise Exports
The country exported merchandise worth
US$534.7 million, a 17.1% decline from
US$645 million recorded in the previous
month. The decrease was mainly on account of
the decline in tobacco exports. Monthly exports
for the period March 2024 were 3.8% higher
than the US$515.3 million recorded in the
corresponding month in 2023. Figure 5 shows
developments in the country’s merchandise
exports for the period from January 2023 to
March 2024.

Figure 5: Merchandise Exports (US$
millions): 2023 and 2024

Source: ZIMSTAT, 2024


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
Sep-23
Nov-23
Jan-24
Mar-24
US$/tonne
US$/tonne
Copper
Nickel (RHS)


Mar-23
Jun-23
Sep-23
Dec-23
Mar-24
US$/tonne

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec

Exports by Commodity
The country's primary export commodities,
including gold, PGMs, tobacco, and industrial
diamonds,
were
the
leading
export
commodities, contributing 23.6%, 26.6%,
13.9%, and 10.8% respectively. Table 2 shows
developments in the country’s exports for the
months of February and March 2024.

Table 2: Major Exports (US$ millions)


Feb-24
(US$m)
Mar-24
(US$m)
Feb-Mar
Changes
(%)
Share of
Exports
(%) Mar-24
Total

Of Which:


Tobacco (incl
cigarettes)

PGMs*

Gold

Ferrochromium

Industrial
diamonds

Coke and Semicoke of coal

Cotton

Crocodiles

Chromium Ores
and
Concentrates

Corrugated
Paper

Source: ZIMSTAT & RBZ Calculations, 2024
*PGMs Include Nickel mattes, nickel ores &
concentrates and platinum

Export Markets
During the month under review, the country’s
major export destinations were South Africa
(34.6%), United Arab Emirates (34.3%), China
(10.4%) and other jurisdictions. Figure 6 shows
the country’s direction of exports during the
reporting month.


Figure 6: Top Ten Merchandise Export
Destinations (% Share)
Source: ZIMSTAT & RBZ Calculations, 2024

Merchandise Imports
The country’s import bill for March 2024
amounted to US$719 million, a 1.5% decrease
from US$729.6 million reported in the previous
month. Similarly, the reporting month’s
imports were lower than the US$ 746.4 million
recorded in the comparable month in 2023, as
shown in Figure 7.
Figure 7: Merchandise Imports (US$
millions): 2023 and 2024
Source: ZIMSTAT & RBZ Computations, 2023


South Africa
China
United Arab Emirates
Mozambique
Hong Kong
Zambia
Vietnam
Indonesia
India
United States


Imports by Commodity
The country's imports in March 2024 primarily
consisted of diesel, maize, leaded petrol, and
crude soya bean oil, which represented 10.5%,
5.9%, 5.1%, and 2.5% of the total imports,
respectively. Table 3 shows imports of major
commodities for February and March 2024.
Table 3: Major Imports (US$ millions)

Feb-24
(US$ m)
Mar-24
(US$ m)
Feb - Mar
Changes
(%)
Share of
Total
Imports
(%)
Mar 24
Total

Of Which:


Diesel

Maize

Leaded petrol

Machinery

Wheat

Crude soya
bean oil

Rice

Electricity

Butanes,
liquefied

Source: ZIMSTAT & RBZ Calculations, 2024

Source Markets
The country sourced most of its imports from
South Africa, which accounted for about 38.5%
of total imports, followed by China, 15.1%,
Bahamas, 9.4%, Mozambique, 3.9%, Zambia,
3.8%, and other jurisdictions. Figure 4 shows
the country’s top import sources in March
2024.


Figure 8: Top Ten Merchandise Import
Sources (% Share)
Source: ZIMSTAT & RBZ Calculations, 2024

Merchandise Trade Balance
The country’s trade deficit stood at US$184.3
million during the month under review, higher
than US$84.6 million recorded in the previous
month. The country’s deficit narrowed from
US$231.1 million in March 2023 to US$184.3
million in March 2024. Figure 9 shows the
country’s trade balance for the month of March
2024.

Figure 9: Merchandise Trade Balance (US$
millions)

Source: ZIMSTAT & RBZ Computations, 2024

South Africa
China
Bahamas
Mozambique
Zambia
Bahrain
UAE
India
Mauritius
Singapore

Feb-24
Mar-24
Exports
Imports
Trade Balance

MONETARY DEVELOPMENTS1
Broad
money
(M3)
stock
stood
at
ZW$59,171.49
billion,
in
March

compared to ZW$40,613.04 billion recorded
the previous month.

The money stock comprised foreign currency
deposits, 86.80% local currency deposits,
13.17%, and the local currency in circulation,
0.03% as shown in Figure 10.

Figure 10: Composition of Money Supply
Source: Reserve Bank of Zimbabwe, 2024
On a month-on-month basis, the broad money
aggregate increased by 45.70% in March 2024,
compared to 54.63% in February 2024.
The monthly increase in money supply largely
reflected an expansion of 40.70% in the local
currency component and 46.50% in foreign
currency accounts.

During the month under review, credit to the
private sector, increased by ZW$13,938.99 to
ZW$39.450.76
billion,
largely
reflecting
valuation changes owing to exchange rate

1 All monetary numbers are valued in ZW$ since the
adoption of an interbank market determined exchange
rate in February 2019.
depreciation. Over the same period, net claims
on the Government increased by ZW$3,676.35
billion, from ZW$12,506.42 billion.

On an annual basis, Broad Money registered an
increase of 1751.81% compared to 442.41%
registered in March 2023. The annual growth in
money supply largely reflected exchange rate
depreciation, from ZW$929.86/USD in March
2023 to ZW$22,055.47/USD by the end of
March 2024.

Expansion in foreign currency deposits
accounted for 1542.53 percentage points of the
1751.81% annual growth in broad money. The
local currency component of the money supply
contributed 209.28%.

On the asset side, the annual increase in broad
money largely reflected nominal changes in
credit to the private sector and net claims on the
Government
of
ZW$37,708.520
billion
(2,164.37%)
and
ZW$15,578.99
billion
(2,580.267%), respectively.

Outstanding credit to the private sector was
mainly
channelled
to
households,
manufacturing, and agriculture which received
24.89%, 16.20%, and 14.88% of the total
credit,
respectively.
The
mining
and
distribution sectors received 12.00% and
10.95% of the total outstanding credit,
respectively.

Private sector credit shares for the rest of the
economic sectors are shown in Figure 11.

NCDs,
0.01%
Local Currency
Time , 1.19%
FX Time
Deposits, 6.34%
Local Currency
Transferable ,
11.97%
FX
Transferabl
e Deposits,
80.46%
Currency in
Circulation,
0.03%

Figure 11: Distribution of Private Sector
Credit

Source: Reserve Bank of Zimbabwe, 2024

Credit to the private sector was largely utilized
for recurrent expenditures, 36.66%; inventory
build-up,
26.59%;
and
fixed
capital
investments, 12.84%.

STOCK MARKET DEVELOPMENTS
Zimbabwe Stock Exchange (ZSE)
During the month of March 2024, the
Zimbabwe Stock Exchange (ZSE) recovered
from previous month losses. As such, the All
Share, Top 10, and Top 15, Small and Medium
Cap indices gained 66.16%, 68.91%, 71.48,
0.86% and 51.84% to close at 873 263.38
points, 398 030.12 points, 524 826.30 points,
12 735 217.66 and 3 176 588.02 points,
respectively.

The resource index also added 0.82% to close
at 218 308.09 points compared to 216 534.42
points, registered in February 2024.

On an annual basis, the All Share, Top 10, Top
15, Small and Medium Cap indices gained
2 164.19%, 1 624.42%, 1 842.89% and 4
118.14%, respectively. This compares to 38
568.48 points, 23 081.98 points, 27 012.64
points, 697 921.97 points and 75 307.75 points
recorded in March 2024, respectively.

The mining index also added 484.34% from
37 359.78 points recorded in March 2023.

Figure 12: ZSE All Share, Top 10 and
Mining Indices

Source: Zimbabwe Stock Exchange, 2024

The cumulative values of shares traded
amounted to ZW$123.03 billion, reflecting an
increase of 18.89% from ZW$103.47 billion
recorded in the previous month while the
cumulative volume of shares traded declined by
26.57% to 54.30 million shares. This compares
to 73.94 million shares traded in the previous
month.

The proportion of foreign purchases to the
value of shares traded improved to 7.08% from
5.19% registered in February 2024.

Households
24.89%
Agriculture
14.88%
Mining
12.00%
Manufactur
ing
16.20%
Distribution
10.95%
Transport and
Communication
3.00%
Services
9.55%
Financial Organisations and
Investiments
5.84%
Construction
1.94%
Other

28-Mar-23
28-Apr-23
28-May-23
28-Jun-23
28-Jul-23
28-Aug-23
28-Sep-23
28-Oct-23
28-Nov-23
28-Dec-23
28-Jan-24
28-Feb-24
28-Mar-24
All Share Index
Top 10 Index
Mining Index

Net foreign position improved from negative
ZW$15.89 recorded in February 2024, to
negative ZW$0.25 billion.

Figure 13: ZSE Monthly Volume and Value
Traded

Source: Zimbabwe Stock Exchange, 2024
Owing to the positive trading developments on
the ZSE, market capitalization gained by ZW$2
9 146.45 billion, or 70.23% to close at ZW$70
645.046 billion.

On a year-on-year basis, ZSE capitalization
added 1 989.20%, from ZW$3 381.46 billion
recorded in March 2023.

Victoria Falls Stock Exchange (VFEX)
During the month of March 2024, the Victoria
Falls Stock Exchange (VFEX) also recovered
from losses incurred in February 2024.
Consequently, the All-Share index added
2.50% to close at 101.06 points, compared to
98.59 points recorded in February 2024.

On an annual basis, the VFEX All Share index
increased by 9.80%, from 92.04 points
recorded in March 2023.

Figure 14: Victoria Falls Stock Exchange
(VFEX) All Share Index (ASI)

Source: Victoria Falls Stock Exchange, 2024

VFEX Market Capitalization
Owing to the positive trading on the VFEX
market capitalization gained by 2.50% to
US$1.22 billion, compared to US$1.19 billion
recorded in the previous month.

Figure 15: Victoria Falls Stock Exchange
(VFEX) Market Capitalization (US$ Billion)

Source: Victoria Falls Stock Exchange (VFEX), 2024

NATIONAL PAYMENTS SYSTEM
The value of transactions processed through the
National Payment Systems (NPS) increased by


Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
VALUE TRADED ($ MILLIONS)
VOLUME TRADED (MILIONS)
Volume
Value

28-Mar-23
28-Apr-23
28-May-23
28-Jun-23
28-Jul-23
28-Aug-23
28-Sep-23
28-Oct-23
28-Nov-23
28-Dec-23
28-Jan-24
28-Feb-24
28-Mar-24


1.2
1.4
1.6
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
US$ BILLIONS

45% from ZW$79.13 trillion in February 2024
to close at ZW$114.87 in March 2024.

NPS transactions volumes rose by 10% to close
at 68.31 million in the reporting month from
61.96 million in the previous month.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)
The value of transactions processed through the
Real Time Gross Settlement (RTGS) system
increased by 58%, from ZW$38.30 trillion in
the previous month to close at ZW$60.43
trillion in March 2024.


The volume of RTGS transactions increased by
6% to close at 941 thousand during the month
under review, from 890 thousand in February
2024.

Figure 16: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2024

Mobile and Internet Based Transactions
Mobile
and
internet-based
transactions
amounted to ZW$46.03 trillion, during the
month under analysis, representing an increase
of 32.32% from ZW$35.32 trillion recorded in
March 2024.
INFLATION OUTTURN
Annual Inflation
Annual headline inflation rose to 55.3% in
March 2024, from 47.6% in February 2024.
This was, partly, on account of the depreciation
of the local currency against major currencies
and adverse inflation expectations in the
economy.
Monthly Inflation
Month-on-month inflation rate, however,
decelerated to 4.89% in March 2024, from
5.38% in February 2024, largely driven by the
decline in food and non-alcoholic beverages
inflation.

Albeit declining to 8.13% in March 2024, down
from 9.83% in March 2024, food inflation
remained high, largely due to the effects of El
Nino induced drought on food supplies in the
economy.

Monthly non-food inflation slightly rose from
2.98% in February 2024 to 3.01% in March
2024.

Figure 17: Month-on-Month Inflation (%)

Source: ZIMSTAT, 2024


MAY 2024
RESERVE BANK OF ZIMBABWE

1,000
1,200
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Value in ZW$ Trillions
Volume in Thousands
Volume
Value

Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Mar-23
May-23
Jul-23
Sep-23
Nov-23
Jan-24
Mar-24
Food and non alcoholic beverages
Non food

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)
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
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 (Time 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, 2024
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

Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
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 Drawdowns

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 Money

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,2024
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)
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
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 Governmen

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 M

Deposits Included in Broad Money
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

13,382,795,891.99

15,691,777,986.61

16,730,519,506.06

17,590,333,042.62

18,838,163,125.87

29,182,930,103.98

40,568,677,127.34

59,114,397,682.94

Transferable Deposits
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

12,522,593,843.18

14,746,268,275.64

15,543,135,460.62

16,351,245,253.30

17,550,959,163.20

27,433,139,639.80

37,763,111,417.94

54,658,584,424.60

of which FCAs
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

10,172,409,984.27

12,309,119,479.36

12,388,978,422.26

12,751,597,340.40

13,391,882,427.59

22,891,974,397.20

32,954,377,682.43

47,588,241,673.51

Other Deposits (Time Deposits)

of which FCAs

Money Market Instruments
16,082,619.50

1,843,391.22

4,659,433.86

4,243,581.90

2,137,443.55

3,182,683.74

2,685,488.92

3,497,226.23

4,173,191.32

42,811,406.21

7,317,942.35

9,458,363.45

6,990,856.69

Source:Reserve Bank of Zimbabwe, 2024

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

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


Aug
2,292.1

1,505,916.2

4,651,358.8

448,025.8

3,179,274.3


Sep
2,465.6

2,015,621.6

5,263,338.5

560,033.8

3,210,332.7


Oct
2,425.4

2,312,575.1

5,910,277.9

751,077.6

2,663,186.5


Nov
2,705.3

2,558,589.3

6,324,144.1

730,377.0

2,788,783.6


Dec
3,398.4

2,868,505.6

5,973,706.9

918,524.5

2,631,445.7


Jan
2,947.9

5,196,670.6

9,096,074.6

1,414,527.9

3,957,664.6


Feb
3,143.6

7,309,077.0

12,595,037.9

2,395,225.7

5,340,576.7


Mar
2,831.0

9,785,505.6

16,734,744.0

3,185,636.7

7,548,560.1


Source:Reserve Bank of Zimbabwe, 2024
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households, other financial corporations.
Public
Enterprises
TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
ZWL$ millions
Debt Securities
Loans and Advances
Government1
Securities

End of

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

Source: Reserve Bank of Zimbabwe, 2024
TOTAL
Time Deposits
Savings
Demand
Government
Total
Other Finacial
Corporations
Capital and
Reserves
Contigent
Liabilities
Other
Liabilities
Other
Depository
Total Deposits from
the Public
Other Depository
Corporations
Debt Securities
Foreign
Liabilities
RBZ
TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
ZWL$ millions

End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government

Local Governemt
Public Enterprises
Other

Government
Government
Enterprises
Institutional Units

Other claims
Assets
Other Assets
Assets
TOTAL
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

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

Aug
1,664.09

1,370,651.81

4,309,693.74

391,792.23

2,693,989.06

208,098.88

1,084,784.90

-

-

138.30

7,469.95

75.80

205,341.47

6,863,348.14

127,816.16

701,626.16

1,081,800.09

2,446,465.02

21,494,755.8

Sep
1,503.56

1,763,364.33

4,914,305.55

517,813.92

2,760,807.78

247,094.60

1,204,684.14

-

-

9.75

9,935.82

92.05

219,878.94

8,245,053.80

151,685.43

776,997.57

1,312,147.78

2,668,520.81

24,793,895.8

Oct
1,977.18

2,059,471.85

5,625,069.70

562,790.91

2,202,475.21

175,235.94

1,172,130.22

-

-

0.03

10,816.83

98.06

237,525.73

8,864,363.09

153,534.70

958,746.42

1,351,846.54

2,767,099.33

26,143,181.7

Nov
2,295.18

2,278,921.91

5,913,094.15

568,556.41

2,451,981.00

180,229.25

1,337,040.40

-

-

0.03

10,921.42

59.77

238,702.30

9,040,518.08

158,702.11

1,046,256.98

1,702,370.26

2,868,031.98

27,797,681.2

Dec
2,947.49

2,536,437.97

5,489,443.24

657,432.63

2,268,702.96

155,742.88

2,420,663.39

-

-

0.03

12,324.59

73.45

248,699.79

9,507,281.46

255,007.08

1,184,706.91

1,748,495.98

3,349,062.31

29,837,022.2

Jan
2,536.36

4,749,173.95

8,535,153.83

940,210.80

3,564,879.01

285,807.60

3,972,600.87

-

-

0.03

17,912.41

198.80

374,088.29

14,957,169.30

312,516.30

1,949,662.45

2,737,500.88

4,289,981.53

46,689,392.4

Feb
2,519.25

6,564,463.71

11,709,703.62

1,772,649.65

4,708,270.62

153,450.01

5,911,393.45

-

-

0.03

26,073.06

232.00

488,602.76

22,234,523.09

378,975.16

2,608,075.14

3,125,793.33

5,812,047.28

65,496,772.2

Mar
2,435.72

8,601,285.46

15,501,059.95

2,213,233.27

6,701,169.42

775,336.87

8,098,495.31

-

-

0.03

47,609.35

143.35

729,484.92

34,077,197.02

597,886.20

2,860,196.61

4,317,386.46

8,974,860.63

93,497,780.6

Source: Reserve Bank of Zimbabwe, 2024
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households, other financial corporations.
TABLE 5.1: COMMERCIAL BANKS -ASSETS
ZWL$ 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

Source: Reserve Bank of Zimbabwe, 2024
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

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

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

Aug
611.0

105296.6
309,821.7

55744.7
475,838.3

37,447.1

102,495.2

0.0
153,578.2

6,767.5

135,193.3

-

758,439.2

223114.4
564,622.1

2,928,969.2

Sep
949.3

193065.6
339,269.2

41680.1
437,996.0

58,554.5

110,351.3

0.0
161,346.6

4,522.1

153,113.7

-

880,148.8

290026.7
565,616.4

3,236,640.3

Oct
403.8

204713.4
254,684.1

187632.1
440,150.3

65,022.1

97,046.1

0.0
176,111.9

13,771.8

173,523.5

-

829,479.5

345029.3
586,015.6

3,373,583.5

Nov
370.5

222344.7
387,213.2

160896.0
326,510.1

50,688.3

159,225.4

0.0
173,990.9

28,127.2

187,363.3

-

926,663.7

395549.5
595,811.6

3,614,754.5

Dec
403.7

251968.8
457,034.9

261067.9
345,348.0

56,551.7

185,131.1

0.0
166,902.0

27,875.9

222,503.1

0.7

973,788.6

507890.9
658,045.7

4,114,512.9

Jan
367.9

368046.7
524,020.9

471915.0
363,325.6

40,412.9

280,803.2

0.0
280,441.0

45,935.9

339,610.7

-

1,563,405.5

649087.4
742,734.0

5,670,106.8

Feb
578.8

637645.2
797,581.2

618074.6
613,309.7

24,680.4

425,783.2

0.0
399,313.5

67,900.2

519,513.4

-

2,188,186.8

904519.6
937,957.6

8,135,044.1

Mar
356.6

1026840.5
1,171,941.4

888362.3
829,470.4

-

440,943.8

0.0
528,820.5

103,276.3

787,872.2

-

3,761,909.8

1403556.4
1,697,667.5

12,641,017.5

Source:Reserve Bank of Zimbabwe, 2024
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households, other financial corporations,
TABLE 6.1: BUILDING SOCIETIES -ASSETS
ZWL$ 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

Source: Reserve Bank of Zimbabwe, 2024
Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
ZWL$ millions

END OF

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

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Source: Reserve Bank of Zimbabwe, 2024
1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES
$ ('000)
AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
INVESTMENTS
FINANCIAL
ORGANISATIONS
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL

Minimum
Maximum
Minimum
Maximum

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

Source: Reserve Bank of Zimbabwe, 2024
TABLE 8.1: COMMECIAL BANKS LENDING RATES (percent per annum)
Individuals
Corporates
End of
Weighted Lending Rates

Minimum
Maximum
Minimum
Maximum

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

Source: Reserve Bank of Zimbabwe, 2024
* Deposit rates depict the range of rates qouted by banks.
SAVINGS
3 MONTHS
TABLE 8.2 : COMMECIAL BANKS DEPOSIT RATES (percent per annum)

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

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Source: Zimstat, 2024
TABLE 9.1 : MONTHLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
FOOD & NON
ALCOHOLIC
BEVERAGES
ALL
ITEMS
HOUSING,
WATER,
ELECTRICTY,
GAS & OTHER
FUELS
CLOTHING &
FOOTWEAR
RECREATION &
CULTURE
RESTAURANTS &
HOTELS
EDUCATION
MISC. GOODS &
SERVICES
TOTAL NON
FOOD
ALCOHOLIC
BEVERAGES &
TOBACCO
FURNITURE AND
EQUIPMENT
HEALTH
TRANSPORT
COMMUNICATION

FOOD
INFLATION
WEIGHTS


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

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Source: Zimstat, 2024
RECREATIO
N &
CULTURE
RESTAURANTS
& HOTELS
MISC.
GOODS &
SERVICES
TOTAL
NON FOOD
FOOD & NON
ALCOHOLIC
CEVERAGES
ALL
ITEMS
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
NON-FOOD INFLATION
HEALTH TRANSPORT
COMMUNICATION
EDUCATION
ALCOHOLI
C
BEVERAGES
&
TOBACCO
CLOTHING
&
FOOTWEAR
HOUSING,
WATER,
ELECTRICTY
, GAS &
OTHER
FUELS
FURNITURE
AND
EQUIPMENT

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

Source: Reserve Bank of Zimbabwe, 2024
TABLE 10 : SELECTED INTERNATIONAL EXCHANGE RATES
1. ZWL$ dollar per unit of foreign currency
END OF
USA DOLLAR
SOUTH ARFICAN
RAND
BOTSWANA PULA
JAPANESE YEN
EURO
POUND STERLING

Market Capitalisation
All Share Index*
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

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Source: Zimbabwe Stock Exchange, 2024
**As at 26 June 2020
TABLE 11: ZIMBABWE STOCK MARKET STATISTICS
Mining Index
Market Turnover
ZWL$ million
Volume of Shares
END OF
*All Share index was introduced in January, 2018

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

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Source: Reserve Bank of Zimbabwe, 2024
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

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Source: Reserve Bank of Zimbabwe, 2024
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

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Source: ZIMSTAT, 2024
TABLE 13 : MERCHANDISE TRADE STATISTICS
(US$ millions)