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JUNE 2025

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TABLE OF CONTENTS


OVERVIEW
The month-on-month ZiG inflation decelerated
further to 0.6% in June 2025, from 0.9% in the
previous month. The annual ZiG inflation,
however, increased to 92.5% during the same
period.
Broad money (M3) stock increased by 4.47%,
in June 2025 to ZiG97,336.53 million from
ZiG93,173.97 million recorded in May 2025.
In the capital markets, the Zimbabwe Stock
Exchange (ZSE) exhibited bullish sentiments,
while the Victoria Falls Stock exchange traded
negatively during the month under review.

The aggregate value of digital payment systems
transactions rose by 4% to ZiG231.42 billion in
June 2025, from ZiG223.44 billion in the
previous
month.
Transactional
volumes,
however, decreased by 5% to 66.98 million in
June 2025, from 70.39 million recorded in May
2025.
The international average prices for gold,
platinum, palladium, copper and brent crude oil
increased, while prices for nickel and lithium
declined during the period under review.
Commodity prices were largely influenced by
ongoing geopolitical tensions in the Middle
East.
During the month under review, merchandise
exports fell by 0.5% to US$723.5 million, from
US$727.3 million in May 2025. Merchandise
imports, however, rose by 0.1% to US$882.0
million, from US$881.3 million recorded in the
previous month. Resultantly, the country’s
trade deficit widened to US$158.5 million in
June 2025, from US$154.8 million in May
2025.
INTERNATIONAL COMMODITY
PRICE DEVELOPMENTS
International average prices for gold, platinum,
palladium, copper and Brent crude oil
increased during the month of June 2025, while
prices for nickel and lithium retreated in the
same month. The movements in prices of
selected commodities in June 2025 are shown
in Table 1.

Table 1: International Commodity Prices
for May 2025 and June 2025
Commodity

May-25


June-25
Monthly
changes
(%)
Gold
US$/oz
3,285.70
3,349.70
1.95
Platinum
US$/oz
1,021.80
1,242.84
21.63
Palladium
US$/oz
975.80
1,058.94
8.52
Copper
US$/t
9,517.02
9,721.26
2.15
Nickel
US$/t
15,526.64
15,176.71
-2.25
Brent Crude
oil
US$/bbl
63.89
69.36
8.56
Lithium
US$/t
8,784.57
8,262.86
-5.94
Source: Bloomberg, 2025

Gold
Gold prices rose by 1.95% to an average of
US$3,349.70 per ounce in June 2025, from
US$3,285.70 per ounce in May 2025. The rise
was fuelled by escalating geopolitical tensions
in the Middle East, which heightened demand
for gold as a safe-haven asset.

Platinum
Platinum prices significantly increased by
21.63% to an average of US$1,242.84 per
ounce in June 2025, from an average of
US$1,021.80 per ounce recorded during the
previous month. Prices rose on account of
constrained supply in major markets.

Palladium
Palladium prices averaged US$1,058.94 per
ounce, 8.52% up from US$975.80 per ounce
recorded in May 2025. Palladium prices
increased as a result of supply uncertainties due
to escalating tensions in Eastern Europe.

Figure 1 shows the trends in precious metal
prices for the period June 2022 to June 2025.

Figure 1: Monthly Precious Metal Prices
(US$ per Ounce): June 2022 – June 2025

Source: Bloomberg, 2025

Brent Crude Oil
Brent crude oil prices, which had been on a
downward
trend
since
February
2025,
increased by 8.56% to US$69.36 per barrel in
June 2025 from US$63.89 per barrel in May
2025. Crude oil prices benefitted from the
geopolitical tensions in oil-producing regions,
particularly Middle east and Russia.

The brent crude oil price developments for the
period from June 2022 to June 2025 are shown
in Figure 2.

Figure
2:
Brent
Crude
Oil
Prices
(US$/Barrel) June 2022 – June 2025


Source: Bloomberg, 2025

Copper
Copper prices rose by 2.15% to US$9,721.26
per tonne in June 2025, from US$9,517.02 per
tonne recorded in May 2025. Prices were
supported by mixed market sentiments driven
by persistent uncertainty over conflicts in the
Middle East, growing demand from China and
limited availability of refined copper in the
market.

Nickel
Nickel
prices
retreated
by
2.25%
to
US$15,176.71 per tonne in June 2025, from
US$15,526.64 per tonne recorded in the
previous month. The decline in nickel prices
was largely due to excess supply in the market,
resulting from a significant rise in output from
Indonesia, which accounts for about 63% of
global production.

1,000
1,200
1,400


Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
Sep-23
Dec-23
Mar-24
Jun-24
Sep-24
Dec-24
Mar-25
Jun-25
US$/ounce
US$/ounce
Gold
Palladium
Platinum (RHS)

Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
Sep-23
Dec-23
Mar-24
Jun-24
Sep-24
Dec-24
Mar-25
Jun-25
US$/BARREL

Figure 3 shows base metals price developments
for the period from June 2022 to June 2025.

Figure 3: Base Metal Prices (US$/tonne):
June 2022 – June 2025

Source: Bloomberg 2025

Lithium
Lithium prices fell by 5.94% to US$8,262.86
per tonne in June 2025, from US$8,784.57 per
tonne recorded in May 2025. Prices were
weighed down by concerns over excess supply
against a background of sluggish demand,
particularly within the energy storage systems
(ESS) sector.

Figure 4 shows lithium price trends for the
period June 2023 to June 2025.


Figure 4: Lithium Prices (US$/tonne) June
2023 – June 2025

Source: London Metal Exchange, 2025

Merchandise Trade Developments
Total merchandise trade reached US$1.61
billion in June 2025, representing a 25.5%
increase from the US$1.28 billion recorded in
the same month in 2024.

Merchandise Exports
The country’s merchandise exports fell by
0.5% to US$723.5 million in June 2025, from
US$727.3 million recorded in May 2025. The
decrease was largely on account of reduced
export earnings from platinum group metals
(PGMs).

On a year-on-year basis, exports in June 2025
were 38.1% higher compared to US$524.0
million recorded in June 2024. The growth in
exports was driven by elevated global gold
prices, as the yellow metal continued to attract
investors seeking a safe-haven asset, amid
persistent geopolitical and trade uncertainties.
The developments in merchandise exports for
the period January 2024 to June 2025 are
shown in Figure 5.


Jun-22
Aug-22
Oct-22
Dec-22
Feb-23
Apr-23
Jun-23
Aug-23
Oct-23
Dec-23
Feb-24
Apr-24
Jun-24
Aug-24
Oct-24
Dec-24
Feb-25
Apr-25
Jun-25
US$/tonne
US$/tonne
Copper
Nickel (RHS)


Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
US$/tonne

Figure 5: Monthly Merchandise Exports
(US$ millions): 2024 and 2025

Source: ZIMSTAT, 2025

Exports by Commodity
During the month under review, primary
commodities dominated Zimbabwe’s export
basket, with gold contributing 50.6%, Platinum
Group Metals (PGMs), 21.9%, tobacco, 6.0%,
and other mineral products, 4.1%. Table 2
shows developments in the country’s major
exports by commodity for the months of May
and June 2025.


Table 2: Major Exports (US$ millions)

May-25
(US$m)
June-25
(US$m)
May-June

Changes
(%)
Share of
Exports (%)
Total

Of Which:


Gold

PGMs

Tobacco
(Including
cigarettes)

Other mineral
substances

Ferro chromium

Coal

Other ores and
concentrates

Industrial
diamonds Cane
Sugar

Other ores and
concentrates

Iron/Steel

Others

Source: ZIMSTAT & RBZ Calculations, 2025

Export Markets
The country’s exports were destined for the
United Arab Emirates (54.8%), South Africa
(23.5%), and China (8.3%), while the
remaining exports were distributed across
various other global markets, during the month
under review. Figure 6 depicts the country’s
major export markets during the month under
review.


Figure 6: Top Ten Merchandise Export
Destinations (% Share)

Source: ZIMSTAT & RBZ Calculations, 2025

Merchandise Imports
Merchandise imports rose by 0.1% to
US$882.0 million in June 2025, from
US$881.3 million recorded in the previous
month. On an annual basis, merchandise
imports increased by 16.8%, from US$755.0
million recorded in May 2024.

Figure

shows
the
developments
in
merchandise imports for the period `January
2024 to June 2025.

Figure 7: Monthly Merchandise Imports
(US$ millions): 2024 and 2025

Source: ZIMSTAT & RBZ Computations, 2025
Imports by Commodity
During the month of June 2025, the country’s
imports mainly consisted of industrial supplies
(30.4%), fuels and lubricants (19.5%) and
capital goods (18.9%).

Table 3: Major Imports (US$ millions)

May-25

(US$m)
Jun- 25
(US$m)
MayJun 25
Changes
(%)
Share
of Total
Imports
(%)
Jun-25
Total

Of
Which:


Industrial
Supplies

Fuels and
Lubricants

Capital
goods

Food and
Beverages

Transport
Equipment
and parts

Consumer
Goods

Others

Source: ZIMSTAT & RBZ Calculations, 2025

During the period under review, the country’s
imports were predominantly sourced from
South Africa (34.5%), followed by China
accounting for 15.0%, Bahrain (9.8%), the
Bahamas (5.3%), and Mozambique at 4.7%.
The remaining imports were sourced from
other various markets as shown in Figure 8.


United Arab Emirates
South Africa
China
Mozambique
Hong Kong
Zambia
Netherlands
Botswana
Viet Nam
Italy


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

Figure 8: Top Ten Merchandise Import
Sources (% Share)

Source: ZIMSTAT & RBZ Calculations, 2025

Merchandise Trade Balance
The country’s trade deficit widened to
US$158.5 million in June 2025, from
US$154.0 million recorded in May 2025. On an
annual basis, however, the deficit narrowed to
US$158.5 million during the reporting month,
from US$231.0 million in June 2024. The
country’s trade balance for the period from
January 2025 to June 2025 is shown in Figure
9.


1 Monetary data was revised from September 2024
following the adoption of new standardized reporting
formats (SRFs) submitted by banks. The notable revision
is on broad money stock (M3), which was revised
Figure 9: Merchandise Trade Balance (US$
millions)

Source: ZIMSTAT & RBZ Computations, 2025

MONETARY DEVELOPMENTS1
Broad
money
(M3)
stock
stood
at
ZiG97,336.53 million in June 2025, an increase
of
4.47%
(ZiG4,162.56
million)
from
ZiG93,173.97 million recorded in May 2025.

The increase in broad money largely reflected
a month-on-month increase of ZiG4,302.74
million (5.67%), in the foreign currency
deposits to ZiG80,135.82 million, from
ZiG75,833.08 million in May 2025. Partially
offsetting this growth was a decline of 0.81%
in the local currency component of broad
money from ZiG17,273.72 million in May
2025 to ZiG17,200.721 million.

The broad money stock comprised foreign
currency deposits, 82.33%; local currency
deposits, 16.00%; negotiable certificates of
downwards due to removal of Government foreign
currency deposits held by banks from deposits included
in broad money. Other monetary aggregates also
changed following the re-classification exercise.

South...
China
Bahrain
Bahamas
Mozambi...
Zambia
India
United...
Mauritius
Singapore

Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25
Exports
Imports
Trade Balance

deposits, 1.54%; and local currency in
circulation, 0.13%.

Figure 10 shows the composition of the money
supply.

Figure 10: Composition of Money Supply

Source: Reserve Bank of Zimbabwe, 2025

Net claims on Government2 increased by
48.82% to ZiG22,926.40 million. The growth
in credit to Government largely reflected the
Central Bank’s reclassification of Unrealised
losses relating to external loans assumed by the
Treasury, from other items net (OIN) to an
amount receivable from the Government.

During the month under analysis, credit to the
private sector increased by 3.26%, from
ZiG61,823.68 million to ZiG63,840.16 million.
The growth in credit to the private sector was
on account of the 3.73% increase in foreign
currency-denominated loans to ZiG54,648.96
million from ZiG52,686.20 million.


2 Claims in Government were adjusted for exchange
losses related to SDR drawdowns for the period April
2024 to January 2025. The adjustment does not indicate
a flow of new money.
Outstanding credit to the private sector was
mainly channelled to households, agriculture,
manufacturing and distribution, which received
26.87%, 16.50%, 13.10%, and 12.49% of the
total credit, respectively. The mining sector
received 9.42% of the total outstanding credit.

Figure 11 shows the distribution of credit by
sector.

Figure 11: Distribution of Private Sector
Credit

Source: Reserve Bank of Zimbabwe, 2025

Credit to the private sector was largely utilized
for recurrent expenditures, 40.27%; inventory
build-up,
23.63%;
and
fixed
capital
investments, 13.84%.

The June 2025 figure includes exchange losses related to
external loans transferred to the Government, which
were reclassified from Unrealised Exchange Losses in
Other Items Net (OIN).
NCDs,
1.54%
Local Currency
Time Deposits,
1.55%
FX Time
Deposits, 9.93%
Local Currency
Transferable ,
14.45%
FX Transferable
Deposits, 72.40%
Currency in
Circulation,
0.13%
Households
26.87%
Agriculture
16.50%
Mining
9.42%
Manufacturing
13.10%
Distribution
12.49%
Transport and
Communication
2.70%
Services
10.19%
Financial
Organisations and
Investments
5.33%
Construction
3.40%
Other
0.00%

STOCK MARKET DEVELOPMENTS
Zimbabwe Stock Exchange (ZSE)
During the month of June 2025, the Zimbabwe
Stock Exchange (ZSE) registered marginal
gains, reflecting the positive impact of the
continued tight monetary policy stance pursued
by the Authorities. Consequently, the ZSE All
Share, Top 10 and Top 15 indices added 0.19%,
2.28% and 1.76% to 197.23 points, 194.14
points and 197.63 points, respectively.

In line with the developments on the local
bourse, the ZSE market capitalisation rose by
1.66%, or ZiG998.42 million worth of
capitalisation to ZiG60,971.48 million. This is
comparable to ZiG59,973.06 million recorded
in May 2025. On a year-on-year basis, the ZSE
capitalisation increased by 57.51%, from
ZiG38,710.43 million recorded in June 2024.

The mining index remained unchanged at
145.40 points in June 2025. Annually, the
mining index grew by 27.36%, from 114.16
points recorded in the comparable period last
year.


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

Source: Zimbabwe Stock Exchange, 2025

Owing to dampened trading activity on the
bourse, which was concentrated in some
selected stocks in the low-tier category, the
cumulative value of shares traded declined by
11.40% to ZiG532.26 million. This was against
a 45.68% increase in volume of shares traded,
amounting to 393.33 million. This is in
comparison to ZiG600.72 million and 269.99
million shares in turnover value and volume
recorded in May 2025, respectively.

The proportion of foreign purchases to the
value of shares traded declined to 0.13% in
June 2025, from 43.24% realised in the prior
month. Concomitantly, cumulative net foreign
position worsened from a negative position of
ZiG79.85 million to negative ZiG193.18
million during the month under review.

Figure 13 shows the ZSE monthly volumes and
values traded from the period June 2024 to June
2025.

30-Jun-24
31-Jul-24
31-Aug-24
30-Sep-24
31-Oct-24
30-Nov-24
31-Dec-24
31-Jan-25
28-Feb-25
31-Mar-25
30-Apr-25
31-May-25
30-Jun-25
ALL SHARE AND TOP 10 INDICES
ZSE All Share Index
Top 10 Index
Mining Index (Points)

Figure 13: ZSE Monthly Volume and Value
Traded- June 2024 to June 2025

Source: Zimbabwe Stock Exchange, 2025

Victoria Falls Stock Exchange (VFEX)
The Victoria Falls Stock Exchange All Share
index shed 0.03% to close at 107.21 points in
June 2025, from 107.24 points recorded in May
2025, as shown in Figure 14.

Figure 14: Victoria Falls Stock Exchange
(VFEX) All Share Index (ASI): June 2024June 2025

Source: Victoria Falls Stock Exchange, 2025

VFEX Market Capitalization
Market capitalisation fell by 0.02%, or
US$299.22 million to US$1,250.81 million in
June 2025 due to subdued trading activity on
the VFEX. This is in comparison to
US$1,251.11 million recorded in the prior
month. On an annual basis, the VFEX
capitalisation also fell by 0.16%, from
US$1,252.80 million recorded in June 2024.

NATIONAL PAYMENTS SYSTEM
The total digital payment systems transaction
values for June 2025 increased by 4% from
ZiG223.44 billion in May 2025, to ZiG231.42
billion.
Transactional
volumes,
however,
decreased by 5% from 70.39 million in May
2025, to 66.98 million in June 2025, as shown
in Figure 15.

Figure 15: Payment Systems Monthly
Transactional Values and Volumes from
August 2024 – June 2025

Source: Reserve Bank of Zimbabwe, 2025

Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
VALUE TRADED ZIG MILLIONS
VOLUME TRADED (MILIONS)
Volume
Value

30-Jun-24
31-Jul-24
31-Aug-24
30-Sep-24
31-Oct-24
30-Nov-24
31-Dec-24
31-Jan-25
28-Feb-25
31-Mar-25
30-Apr-25
31-May-25
30-Jun-25

Volumes (Millions)
Values (Billions)
Values
Volumes

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
RTGS system in June 2025 increased by 7% to
ZiG138.13 billion from ZiG128.95 billion,
whilst volumes decreased by 4% from 0.96
million to 0.92 million, during the same period.

Figure 16: RTGS System Trend for Values
and Volumes from July 2024 - June 2025

Source: Reserve Bank of Zimbabwe, 2025

Mobile and Internet-Based Transactions
Mobile
and
internet-based
transactions
decreased by 1.87%, from ZiG76.86 billion in
May 2025, to ZiG75.42 billion in June 2025.


Cash Transactions
Cash-based transactions decreased by 7.4%
from ZiG15.99 billion in May 2025, to
ZiG14.80 billion in June 2025.

Card-Based Transactions
Card-based transactions rose by 1.34% from
ZiG17.63 billion in May 2025, to ZiG17.87
billion in June 2025.

INFLATION OUTTURN
Monthly Inflation Developments
ZIG Monthly Inflation
The ZIG monthly inflation rate marginally
decreased by 0.3 percentage points, from 0.9%
in May 2025 to 0.6% in June 2025. The decline
in monthly inflation is mainly attributed to
exchange rate stability on both the interbank
and parallel market.

Figure 17 shows developments in monthly ZiG
inflation from June 2024 to June 2025.

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

Source: ZIMSTAT, 2025

Food inflation subsided by 1.8 percentage
points, from 1.6% in May 2025 to -0.2% in
June 2025, driven by decreases in oil and fats,
fruits and vegetables categories. The food


Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
Values in ZiG Billions
Values
Volume

Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
M-O-M %

component contributed 0.07 percentage points
to the June 2025 inflation rate.
Non-food inflation also, slowed down from
0.6% in May 2025, to 0.5% in June 2025 and
contributed 0.3 percentage points to the
monthly inflation rate. Communication and
restaurants and hotels largely contributed to the
non-food inflation in June 2025.

USD Monthly Inflation
The USD month-on-month inflation rate rose
from -0.3% in May 2025 to -0.2% in June 2025.

Weighted Monthly Inflation
In line with the decline in the ZWG monthly
inflation rate, the weighted monthly inflation
rate eased to -0.1% in June 2025 from 0.0% in
May 2025.

Annual Inflation Developments
ZiG Annual Inflation Developments
The year-on-year ZiG inflation stood at 92.5%
in June 2025, up from 92.1% in May 2025.

US$ Annual Inflation Developments
The US$ annual inflation rate, slightly
increased from 13.9% in the previous month to
14.0% in the month under analysis.


Figure
18:
US$
Annual
Inflation
Developments (%)

Source: ZIMSTAT, 2025


JULY 2025
RESERVE BANK OF ZIMBABWE


-6
-4
-2

Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25

TABLE 1: DEPOSITORY CORPORATIONS SURVEY (ZWG '000)
Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
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

Of which foreign Currency

ODCs

Of which foreign currency

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Of which Foreigm currency

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, 2025

Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
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

of which USD Securities

Loans

Loans and Advances

Amounts Due from Gvt including SDR Drawdowns

of which USD Securities revaluations (Exchange rate movements)

Export Incentives

Less Liabilities to Central Government

Of which: Deposits

of which Foreign Currency

Local Currency 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

Currency Issued

ZWL Coins

ZWL Notes

Zig Notes

ZiG Coins

Liabilities to ODCs

Reserve Deposits

Local Currency Reserve Deposits

Foreign Currency Reserve Deposits

Exess reserves

of which Excess reserves - ZiG

Excess reserves - FCA

Private Deposits

Of which Foreign Currency Accounts

Source: Reserve Bank of Zimbabwe, 2025
NB: * Other Foreign Liabilities include blocked funds amounting to USD2.2 billion assumed by the Central Bank on behalf of Government.
*Statistics are denominated in ZiG
TABLE 2: CENTRAL BANK SURVEY (ZWG'000)

TABLE 3 : OTHER DEPOSITORY CORPORATIONS SURVEY ( ZWG '000)
Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
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

of which foreign currency denominated securities

Loans

of which foreign currency

Other
-

-

-

-

-

-

-

-

-

-

-

-

-

Less Liabilities to Central Government

Of which: Deposits

of which foreign currency deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

of which foreign currency denominated loans

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
42,530,970.04

45,632,719.17

46,313,212.53

74,560,409.93

86,923,945.26

82,773,025.11

87,203,064.28

76,952,923.01

77,123,326.81

81,906,890.48

85,574,557.18

91,519,327.84

95,396,238.70

Transferable Deposits
38,710,519.24

41,742,426.77

42,434,906.62

68,693,995.54

79,031,446.06

75,045,621.35

79,013,920.71

70,228,432.67

69,326,092.81

74,633,455.07

76,668,539.82

81,316,502.35

84,216,034.31

of which FCAs
30,114,642.50

31,415,685.01

31,648,530.18

58,109,730.00

68,608,644.80

64,281,472.90

67,075,955.67

58,527,956.72

57,270,326.39

62,418,688.19

63,622,764.25

66,516,873.21

70,151,596.80

Other Deposits (Time Deposits)

of which FCAs

Money Market Instruments
3,991.57

19,182.77

26,605.39

23,833.50

42,725.53

-

-

1,110,841.91

1,043,012.21

1,258,288.66

1,113,653.48

1,031,340.62

1,500,399.00

Source:Reserve Bank of Zimbabwe, 2025
*Statistics are denominated in ZiG

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

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


Apr
7.5

4,794.8

11,004.0

2,108.7

5,798.1


May
15.0

4,337.6

12,420.7

2,281.4

6,437.2


Jun
9.2

4,753.1

12,746.0

2,349.5

6,493.3


Jul
7.5

5,739.9

11,453.3

1,987.0

6,135.6


Aug
6.4

6,444.9

13,516.2

2,310.5

4,922.1


Sep
7.9

10,895.9

22,399.7

3,870.6

8,728.6


Oct
56.7

13,662.1

30,414.7

5,068.5

8,024.4


Nov
72.6

11,233.7

29,835.6

4,498.6

6,365.0


Dec
82.6

10,274.6

32,110.0

5,538.7

8,540.2


Jan
69.3

12,746.4

30,180.7

3,532.9

6,021.2


Feb
75.0

11,639.8

28,998.1

3,283.1

8,161.6


Mar
101.3

9,242.7

30,230.5

3,610.1

12,141.7


Apr
107.4

9,519.9

33,479.3

3,591.2

12,582.7


May
161.4

8,665.8

34,327.1

3,618.3

17,046.8


Jun
212.5

9,521.0

35,799.3

6,230.7

15,373.4


Source:Reserve Bank of Zimbabwe, 2025
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.
*Statistics are denominated in ZiG
Public
Enterprises
TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
ZWG millions
Debt Securities
Loans and Advances
Government1
Securities
Other Institutional Units
Foreign
Currency
Denominated
ZiG
Denominated

End of
Total Deposits
of which FCA
475,755.5

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

Source: Reserve Bank of Zimbabwe, 2025
*Statistics are denominated in ZiG
TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
ZWG millions
TOTAL
Time Deposits
Savings
Demand
Government
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

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

Local Governemt Public Enterprises
Other

Government
Government
Enterprises
Loans in ZiG
Loans in Foreign Currency
Total
Other claims
Assets
Other Assets
Assets
TOTAL
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

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

Apr
5.89

4,141.51

9,980.68

1,414.28

5,461.70

287.09

5,206.08

-

-

0.00

31.18

88.00

440.49

20,170.86

246.21

2,510.15

5,472.97

4,360.99

59,818.1

May
10.60

3,583.02

11,575.45

1,506.01

6,092.37

382.87

5,420.56

-

-

0.00

29.63

1.37

433.36

21,315.87

348.50

2,114.73

6,339.55

4,613.87

63,767.8

Jun
8.01

4,111.49

11,498.97

1,627.32

5,775.34

298.05

6,080.69

-

-

7.23

24.70

1.49

446.45

22,801.09

345.72

2,541.32

6,558.03

5,419.46

67,545.3

Jul
5.05

4,943.82

10,426.18

1,342.47

5,743.94

351.44

6,988.99

-

0.00

5.21

25.13

0.16

432.35

24,895.03

348.09

2,342.85

6,539.59

6,244.23

70,634.5

Aug
5.26

5,703.86

12,540.81

1,453.04

4,411.38

205.93

6,149.38

-

-

2.43

126.05

0.19

378.05

25,591.15

542.15

2,767.89

7,004.36

6,832.60

73,714.5

Sep
6.82

9,465.31

20,161.22

2,742.22

7,903.81

340.45

10,295.58

-

-

0.00

244.94

0.33

600.93

43,094.11

979.13

4,853.44

11,326.85

9,785.35

121,800.5

Oct
39.65

12,315.40

27,597.64

3,670.13

7,120.62

129.14

11,256.45

-

-

0.00

239.01

0.08

679.62

49,545.16

1,042.81

6,380.10

11,454.83

11,116.57

142,587.2

Nov
58.26

10,111.62

27,498.54

3,102.17

5,626.08

117.33

9,757.48

-

0.00

0.00

287.55

2,326.36

572.57

45,782.99

1,064.73

6,685.94

11,362.33

10,783.91

135,137.8

Dec
64.89

8,774.50

29,312.78

3,217.87

7,673.17

287.57

10,942.77

-

0.00

8.29

54.88

0.57

549.66

46,926.14

1,073.63

6,555.30

13,399.70

11,326.46

140,168.2

Jan
55.47

11,470.10

27,587.58

2,805.14

5,383.93

896.67

12,362.23

-

-

807.94

342.87

-

201.82

6,018.68

38,456.08

44,474.76

4,490.04

6,786.76

7,296.77

14,700.77

139,662.8

Feb
60.09

10,394.10

26,074.71

2,500.83

7,466.49

879.05

11,985.91

-

-

1,227.40

525.19

-

210.91

5,135.14

39,602.20

44,737.33

4,572.78

7,060.84

6,529.15

14,603.01

138,827.8

Mar
79.63

7,880.54

27,417.58

2,717.51

11,623.76

820.11

12,300.30

-

-

1,342.02

509.01

-

196.72

4,699.08

40,942.54

45,641.63

4,354.50

7,859.25

6,540.97

15,243.80

144,527.3

Apr
87.99

8,108.02

30,664.80

2,649.20

12,068.34

413.80

12,241.98

-

-

1,095.15

478.00

-

177.77

4,854.99

44,593.50

49,448.49

4,042.90

6,452.91

9,497.37

15,304.56

152,731.3

May
133.33

7,539.98

31,081.99

2,649.42

16,140.56

419.60

12,259.88

-

-

953.79

469.51

-

151.74

5,278.01

46,383.60

51,661.61

3,991.35

7,163.66

9,319.35

15,249.33

159,185.1

Jun
181.74

8,374.10

32,527.57

5,410.98

14,549.70

119.42

13,604.07

-

-

992.17

508.81

-

141.15

5,228.09

47,537.52

52,765.60

6,477.32

7,532.53

8,140.55

15,060.65

166,386.4

Source: Reserve Bank of Zimbabwe, 2025
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.
Statistics are denominated in ZiG
TABLE 5.1: COMMERCIAL BANKS -ASSETS
ZWG millions
Debt Securities
Loans and Advances
Other Institutional Units

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

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source: Reserve Bank of Zimbabwe, 2025
*Statistics are denominated in ZiG
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

Foreign
Other
Contigent
End of
Notes
Claims
Assets
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
Public Enterprise
Other Assets
Assets
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Loans in ZiG
Loans in Foreign Currency
Total

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

Apr
1.0

564.4
864.1

693.0
326.5

67.2

337.2

0.0
313.5

-

593.2

212.7

2,856.8

420.1
824.2

8,074.0

May
4.0

639.2
783.2

772.6
296.2

109.6

407.6

0.0
303.7

-

309.2

19.8

2,946.5

712.1
903.7

8,207.5

Jun
1.1

520.3
1,122.4

718.7
678.1

110.9

188.6

0.0
282.9

-

424.7

20.4

2,998.6

858.8
1,229.8

9,155.3

Jul
2.4

681.0
918.2

640.3
336.2

99.8

676.7

0.0
276.2

5.0

333.9

20.5

3,022.2

1332.3
1,250.3

9,595.1

Aug
1.1

642.2
853.3

852.1
428.1

-

764.6

0.0
246.2

5.1

373.1

20.6

3,042.5

1811.8
1,318.9

10,359.6

Sep
1.0

1230.9
1,985.1

1121.2
705.4

-

555.5

0.0
431.0

34.5

1,130.0

37.0

4,878.1

2054.8
2,298.6

16,463.3

Oct
13.1

1166.2
2,512.0

1391.6
769.7

-

745.1

0.0
502.2

5.3

1,380.9

42.7

5,751.9

2214.8
2,435.0

18,930.4

Nov
14.0

918.9
2,141.3

1383.8
649.7

-

602.6

0.0
367.6

5.4

1,293.8

39.5

4,997.5

2566.9
2,458.3

17,439.1

Dec
17.1

1089.4
2,633.9

2306.6
754.5

-

675.7

0.0
361.0

-

1,424.9

35.4

5,500.8

2343.9
2,593.3

19,736.5

Jan
13.1

939.4
2,348.5

616.8
637.3

-

1,028.5

0.0
-

1,019.2

1,294.7

-

356.6

317.5

5,353.2

5,670.7

199.4

-

3001.4
3,282.1

20,407.7

Feb
13.9

980.7
2,545.5

628.6
695.1

-

753.2

0.0
-

997.8

1,428.4

-

335.1

535.1

5,302.8

5,837.9

199.4

-

1754.4
3,294.2

19,464.2

Mar
20.4

1031.3
2,349.0

786.9
517.9

-

844.9

0.0
-

1,066.7

1,604.4

-

284.5

358.4

5,601.2

5,959.7

121.0

-

1684.9
3,466.0

19,737.7

Apr
17.8

1038.4
2,522.2

766.4
514.4

-

900.0

0.0
-

1,084.2

1,815.7

-

284.5

322.9

5,519.7

5,842.6

111.4

-

1736.6
3,476.9

20,111.3

May
26.4

855.4
2,940.4

801.9
906.2

-

1,009.6

0.0
-

1,098.4

1,814.5

-

204.3

695.6

5,865.6

6,561.2

139.8

-

2062.4
3,495.2

21,915.6

Jun
29.0

803.0
2,966.8

631.1
823.7

-

1,262.5

0.0
-

1,046.3

1,892.2

-

197.5

635.7

6,405.1

7,040.8

232.2

-

1786.7
3,716.9

22,428.7

Source:Reserve Bank of Zimbabwe, 2025
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,
* Statistics are denominated in ZiG
Other Institutional Units
TABLE 6.1: BUILDING SOCIETIES -ASSETS
ZWG millions
Debt Securities
Loans and Advances

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

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan


Feb


Mar


Apr


May


Jun


Source: Reserve Bank of Zimbabwe, 2025
* Statistics are denominated in ZiG
ZWG millions
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
Amounts Owing to

END OF

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

*Apr

*May

*Jun

*Jul

*Aug

*Sep

*Oct

*Nov

*Dec


*Jan

*Feb

*Mar

*Apr

*May

*Jun

Source: Reserve Bank of Zimbabwe, 2025
1 Including the only merchant bank still in operation.
*Statistics are denominated in ZiG
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES
ZWG ('000)
AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
INVESTMENTS
FINANCIAL
ORGANISATIONS
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL

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

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

*Apr

*May

*Jun

Source: Reserve Bank of Zimbabwe, 2025
*Statistics are denominated in ZiG
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
ZWG ('000)

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

*Apr

*May

*Jun

Source: Reserve Bank of Zimbabwe, 2025
*Lending rates are for ZiG loans
TABLE 8.1: COMMERCIAL 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

*Apr

*May

*Jun

*Jul

*Aug

*Sep

*Oct

*Nov

*Dec


*Jan

*Feb

*Mar

*Apr

*May

*Jun

Source: Reserve Bank of Zimbabwe, 2025
* Deposit rates depict the range of rates qouted by banks.
*Deposit rates are for ZiG deposits
SAVINGS
3 MONTHS
TABLE 8.2 : COMMERCIAL 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

Source: Zimstat, 2025
*Statistics are in ZiG
ALCOHOLIC
BEVERAGES &
TOBACCO
FURNITURE AND
EQUIPMENT
HEALTH
TRANSPORT
COMMUNICATION
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
TABLE 9.1 : MONTHLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX

FOOD
INFLATION
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


*Apr

*May

*Jun

Source: Zimstat, 2025
*Statistics are in ZiG
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
NON-FOOD INFLATION
HEALTH
TRANSPORT
COMMUNICATION
EDUCATION
ALCOHOLIC
BEVERAGES
& TOBACCO
CLOTHING
&
FOOTWEAR
HOUSING,
WATER,
ELECTRICTY
, GAS &
OTHER
FUELS
FURNITURE
AND
EQUIPMENT
RECREATIO
N &
CULTURE
RESTAURANTS
& HOTELS
MISC.
GOODS &
SERVICES
TOTAL NON
FOOD
FOOD & NON
ALCOHOLIC
CEVERAGES
ALL ITEMS

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

Source: Reserve Bank of Zimbabwe, 2025
TABLE 10 : SELECTED INTERNATIONAL EXCHANGE RATES
*The Reserve Bank introduced a new currency ZiG on 5
& recalibrated exchange rates to ZiG
END OF
USA DOLLAR
SOUTH ARFICAN
RAND
BOTSWANA PULA
JAPANESE YEN
EURO
POUND STERLING

Market Capitalisation
All Share Index*
ZWG millions

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

*Apr

*May

*Jun

*Jul

*Aug

*Sep

*Oct

*Nov

*Dec


*Jan

*Feb

*Mar

*Apr

*May

*Jun

Source: Zimbabwe Stock Exchange, 2025
**As at 26 June 2020
***The ZSE rebased indices to 100 in April 2024 following the introduction of the ZiG
*Statistics are denominated in ZiG
*All Share index was introduced in January, 2018
TABLE 11: ZIMBABWE STOCK MARKET STATISTICS
Mining Index
Market Turnover
ZWG
Volume of Shares
END OF

END OF
ZETSS
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

*Apr

*May

*Jun

*Jul

*Aug

*Sep

*Oct

*Nov

*Dec


*Jan

*Feb

*Mar

*Apr

*May

*Jun

Source: Reserve Bank of Zimbabwe, 2025
*Statistics are denominated in ZiG
TABLE 12.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (ZWG Millions)

END OF
ZETSS
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

*Apr

*May

*Jun

*Jul

*Aug

*Sep

*Oct

*Nov

*Dec


*Jan

*Feb

*Mar

*Apr

*May

*Jun

Source: Reserve Bank of Zimbabwe, 2025
*Statistics are denominated in ZiG
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

*Apr

*May

*Jun

Source: ZIMSTAT, 2025
TABLE 13 : MERCHANDISE TRADE STATISTICS
(US$ millions)