i


November 2023

TABLE OF CONTENTS


OVERVIEW

The annual headline inflation increased to
21.6% in November 2023 reflecting a 3.8
percentage point gain from the 17.8% recorded
in October 2023. The increase was attributed to
both food and non-food inflation.

On a month-on-month basis, broad money rose
by 4.99% in November 2023, compared to
6.85% in October 2023. The monthly increase
in money supply is largely attributed to the
expansion of 15.80% in the local currency
component thereby reflecting credit creation by
the banking sector.
The average international prices for palladium,
nickel, Brent crude oil and lithium declined,
while gold, platinum, and copper prices
increased. Prices were weighed down by a
stronger U.S. dollar.
The country exported merchandise worth
US$681.4 million in November 2023, whilst
merchandise imports amounted to US$827.3
million. This culminated in a trade deficit of
minus US$145.9 million.
During the month of November 2023, the
Zimbabwe Stock Exchange (ZSE) exhibited
bullish sentiments. As such, All Share, Top 10,
Top 15, Small Cap and Medium Cap indices
gained 21.76%, 16.90%, 18.24%, 4.98% and
32.62% respectively.
The Victoria Falls Stock Exchange (VFEX)
traded in a positive trajectory during the month
of November 2023. As such, the All-Share
index gained 1.85% to close at 69.07 points,
from 67.81 points recorded in October 2023.

The value of transactions processed through the
National Payment Systems (NPS) increased to
ZW$37.57 trillion in November 2023, from
ZW$32.53 trillion in the previous month.
The volumes of NPS transactions registered an
increase of 3% from 62.69 million in the
previous month to 64.45 million during the
month under review.

INTERNATIONAL
COMMODITY
PRICE
DEVELOPMENTS

The average international prices for palladium,
nickel, Brent crude oil and lithium decreased,
whilst gold, platinum, and copper prices
increased. A relatively stronger U.S. dollar
largely weighed down commodity prices.

Precious Metals

Gold
Gold prices increased by 3.71%, from
US$1,912.98 per ounce reported in October
2023 to US$1,983.95 per ounce in November
2023. The increase in gold prices was primarily
driven by the weakening of the U.S. dollar,
which made precious metals more attractive to
investors seeking a secure store of value and
investment options. Investors turned to gold as
a haven and a reliable store of value.

Platinum
Platinum prices registered a 1.84% increase
from US$891.91 per ounce in October 2023 to
US$908.30 per ounce in November 2023. The
upward movement in prices was primarily
driven by market speculation, suggesting that
the Federal Reserve was approaching the
conclusion of its cycle of raising interest rates.

Palladium
Palladium prices significantly declined due to
the initial market shock caused by widespread
expectations of an oversupply as electric
vehicle adoption increases and automakers opt
for platinum over palladium for their catalytic
converters.
Prices
fell
by
8.59%
to
US$1,045.73 per ounce during the reporting
month, compared to US$1,144.02 per ounce
recorded in October 2023.


Figure 1: Precious Metal Prices (US$/oz.)
Source: Bloomberg, 2023


Base Metals


Copper
During the month under analysis, copper prices
gained by 3.18%, from US$8,017.45 per tonne
recorded in the previous month to US$8,272.39
per tonne. Strong demand in China, the largest
metals consumer and decreased inventories
supported the prices of the red metal.

Nickel
Nickel
prices
fell
by
6.96%,
from
US$18,492.27 per tonne recorded in the
previous month to US$17,204.77 per tonne,
during the month under analysis. Prices
retreated due to waning demand, coupled with
loss-making conditions from the stainless-steel
sector, the main consumer of nickel, which led
to wider production cuts, weighing down
prices. Figure 2 shows base metals price
developments
from
November

to
November 2023.

Figure 2: Base Metal Prices (US$/ton)
Source: Bloomberg, 2023


Nov-20
Mar-21
Jul-21
Nov-21
Mar-22
Jul-22
Nov-22
Mar-23
Jul-23
Nov-23
Gold

Nov-20
Jan-21
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
Copper

Brent Crude Oil

Brent crude oil prices experienced a decline of
7.45%, from a monthly average of US$88.67
per barrel in October 2023 to US$82.06 per
barrel in November 2023. This was, in large
part, due to increasing oil supply and demand
concerns.
Figure 3 shows Brent crude oil price
developments for the period from November
2020 to November 2023

Figure 3: Crude Oil Prices (US$/barrel)

Source: Bloomberg, 2023

Lithium
In the month of November 2023, average
international prices for lithium experienced a
significant
decline
of
11.87%,
from
US$23,870.45 per tonne in October 2023 to
US$21,036.36 per tonne. The decrease was
primarily attributed to two factors: a slowdown
in electric vehicle sales in China and an
increase in the overall supply of lithium in the
market.
Furthermore, the deceleration in lithium prices
was also attributed to weak demand for battery
cells from East Asia and Europe. The price
developments for lithium for the period from
March 2023 to November 2023 are illustrated
in Figure 4.

Figure 4: Lithium Prices (US$/tonne) March
– November 2023

London Metal Exchange, 2023

MERCHANDISE TRADE DEVELOPMENTS

The country’s total merchandise trade for
November 2023 stood at US$1,508.7 million,
13.0% lower than the US$1,734.2 million
recorded in the previous month. A decline in
exports and imports underpinned the decrease
in total trade. On a yearly basis, total
merchandise trade rose by 2.2%, from
US$1,476.4
million
recorded
in
the
corresponding month in 2022.

Merchandise Exports
The country exported merchandise worth
US$681.4
million
in
November
2023,
compared to US$831.9 million recorded in the
previous month. The decline was mainly due to
decreases in gold and tobacco exports. The
monthly exports for November 2023 were 10%
higher than the US$674.6 million recorded in

Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
May-22
Aug-22
Nov-22
Feb-23
May-23
Aug-23
Nov-23
US$/barrel


Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
US$/tonne

the corresponding month in 2022. Figure 5
shows
developments
in
the
country’s
merchandise exports from January 2022 to
November 2023.

Figure 5 shows the developments on the
country's merchandise exports for the period
from January 2022 to November 2023.
[Figure 5: Merchandise Exports (US$ m)

Source: ZIMSTAT, 2023

Tobacco, PGMs, gold and ferrochromium
remained the leading export commodities,
accounting for 33.5%, 17.2%, 17.1%, and 5.4%
of the export basket, respectively. Table 2
shows developments in the country’s exports
for the months of October and November 2023.

Table 1 shows developments in the country’s
exports for September and October 2023.


Table 1: Exports Classified by Category


Oct-23

(US$m)
Nov-23

(US$m)
OctNov
Changes
(%)
Share of
Exports
(%)
Nov-23
Total

Of Which:


Tobacco
(Incl.
cigarettes)

PGMs*

Gold

Ferrochromium

Coal

Cotton

Industrial
diamonds

Chromium
ores and
concentrate
s

Cane sugar

Crocodiles

Source: ZIMSTAT & RBZ Calculations, 2023
*PGMs Include Nickel mattes, nickel ores &
concentrates and platinum

During the month under analysis, the country’s
exports were absorbed mainly by China
(32.3%), South Africa (22.5%), the United
Arab Emirates (19.6%) and other jurisdictions.
Figure 6 shows the country’s major export
markets during the reporting month.


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


Source: ZIMSTAT & RBZ Calculations, 2023

Merchandise Imports

The country’s merchandise imports bill for
November 2023 amounted to US$827.3
million, reflecting an 8.3% decrease from
US$902.3 million recorded in the previous
month, as shown in Figure 7.
Figure 7: Merchandise Imports classified by
HS Codes (US$ m)


Source: ZIMSTAT & RBZ Computations, 2023

The major import drivers during the month
under review were diesel, petrol (leaded), and
fertilisers, accounting for 11.0%, 5.1%, and
3.9% of total imports, respectively. Table 2
shows imports of major commodities for
October and November 2023.
Table 2: Imports Classified by Category

Oct-23

(US$m)
Nov-23
(US$m)
Oct-Nov
Changes
(%)
Share
of Total
Imports
(%)
Nov 23
Total

Of Which:


Diesel

Leaded
petrol

Fertilisers

Rice

Maize

Medicaments

Crude soya
bean oil

Electricity

Wheat

Base stations

Source: ZIMSTAT & RBZ Calculations, 2023
The country’s imports for November 2023
were mainly obtained from South Africa
(39.3%), China (11.3%), Bahrain (8.4%),
Bahamas (5.1%) and other markets, as shown
in Figure 8.


China
South Africa
United Arab Emirates
Belgium
Mozambique
Zambia
Korea
India
Hong Kong
Indonesia

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


Source: ZIMSTAT & RBZ Calculations, 2023

Merchandise Trade Balance
In November 2023, the country's net external
trade position remained in negative territory,
with a trade deficit of US$146.0 million, higher
than the previous month's deficit of US$70.5
million. On a year-on-year basis, the country's
trade deficit also widened, increasing from
US$127.2 million in November 2022 to
US$146.0 million in November 2023.

Figure 9 shows the country’s trade balance for
the period from March to November 2023.


1All monetary numbers valued in ZW$ since the
adoption of an interbank market determined exchange
rate in February 2019.
Figure 9: Merchandise Trade Balance
(US$ m)

Source: ZIMSTAT & RBZ Computations, 2023

MONETARY DEVELOPMENTS1

Broad
money
(M3)
stock
stood
at
ZW$17,628.18 billion in November 2023,
compared to ZW$16,790.29 billion recorded in
October 2023.
The money stock was composed of foreign
currency deposits, 77.04% local currency
deposits, 22.89% and local currency in
circulation, 0.07%.


South Africa
China
Bahrain
Bahamas
India
United Arab Emirates
Mozambique
Mauritius
Zambia
Hong Kong

Mar-23 May-23
Jul-23
Sep-23
Nov-23
Exports
Imports
Trade Balance

Figure 10: Composition of Money Supply

Source: Reserve Bank of Zimbabwe, 2023

On a month-on-month basis, the broad money
aggregate increased by 4.99% in November
2023, compared to 6.85% in October 2023.
The monthly increase in money supply largely
reflected an expansion of 15.80% in the local
currency component largely reflecting credit
creation by the banking sector.
Foreign currency component of broad money
recorded a monthly increase of 2.15%.
During the month under review, credit to the
private sector, increased by ZW$325.82 billion,
partly reflecting valuation changes owing to
exchange rate depreciation. Over the same
period, net claims on Government increased by
ZW$743.81 billion.
On an annual basis, broad money registered an
increase of 751.06% compared to 792.71%
registered in October 2023. The annual growth
in money supply largely reflected exchange
rate depreciation, from ZW$654.93/USD in
November 2022 to ZW$5,791.08/USD by endNovember 2023. Expansion in foreign currency
deposits, accounted for 591.59 percentage
points of the 751.06% annual growth in broad
money. The local currency component of
money supply contributed 159.47 percentage
points.

On the asset side, annual increase in broad
money largely reflected nominal changes in
credit to the private sector and net claims on
Government
of
ZW$9,222.67
billion
(931.72%)
and
ZW$3,221.62
billion
(920.29%), respectively.

Outstanding credit to the private sector was
mainly
channelled
to
households,
manufacturing, and agriculture which received
25.25%, 15.69% and 15.65% of the total credit,
respectively. The distribution and mining
sectors received 11.40% and 11.11% of the
total outstanding credit, respectively.

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

Source: Reserve Bank of Zimbabwe, 2023

NCDs,
0.02%
Local Currency
Time , 2.36%
FX Time
Deposits, 4.67%
Local Currency
Transferable ,
20.51%
FX
Transferabl
e Deposits,
72.37%
Currency in
Circulation,
0.07%
Households
25.25%
Agriculture
15.65%
Mining
11.11%
Manufactur
ing
15.69%
Distribution
11.40%
Transport and
Communication
2.77%
Services
9.91%
Financial Organisations and
Investiments
6.29%
Construction
1.92%
Other
0.01%

Credit to the private sector was largely utilized
for recurrent expenditures, 32.44%; inventory
build-up,
23.02%;
and
fixed
capital
investments, 16.79%
STOCK MARKET DEVELOPMENTS

Zimbabwe Stock Exchange (ZSE)

During the month of November 2023, the
Zimbabwe Stock Exchange (ZSE) exhibited
bullish sentiments. As such, All Share, Top 10,
Top 15, Small Cap and Medium Cap indices
gained 21.76%, 16.90%, 18.24%, 4.98% and
32.62% to close at 191 271.68 points, 82
144.36 points, 111 457.38 points, 5 316 567.85
points and 826 194.75 points, respectively.

The mining index added 18.60% to close at 148
883.44 points compared to 125 531.67 points,
recorded in the previous month.

On a year-on-year basis, the All Share, Top 10,
Top 15, Small and Medium Cap indices added
1 212.11%, 866.89%, 1 080.48%, 1 025.36%
and 2 412.08%. This compares to 14 577.46
points, 8 495.75 points, 9 441.71 points, 472
431.36 points and 32 888.85 points recorded in
the comparable period last year, respectively.

The mining index also added 484.35% from 25
478.67 points recorded in November 2022.

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

Source: Zimbabwe Stock Exchange, 2023

The cumulative volume and value of shares
traded added 154.18% and 72.68% to 162.68
million shares and ZW$54.86 billion. This
compares to 64.00 million shares and
ZW$31.77 billion realized in the prior month
respectively. The surge in turnover volumes
was largely informed by block trades,
dominated mostly by OK Zimbabwe Limited
where 61 million shares exchanged hands at an
average share price of ZW$180.60/share.

The proportion of foreign purchases to the
value of shares traded, however, declined to
2.35% from 2.46% registered in October 2023.
Net foreign position improved to negative
ZW$673.43 million, from negative ZW$1.40
billion recorded in October 2023.


30-Nov-22
31-Dec-22
31-Jan-23
28-Feb-23
31-Mar-23
30-Apr-23
31-May-23
30-Jun-23
31-Jul-23
31-Aug-23
30-Sep-23
31-Oct-23
30-Nov-23
All Share Index
Top 10 Index
Mining Index

Figure 13: ZSE Monthly Volume and Value
Traded

Source: Zimbabwe Stock Exchange, 2023
Reflecting the positive developments on the
ZSE, market capitalization increased by
ZW$2 734.96 billion to close at ZW$15 311.63
billion, in November 2023.

The, ZSE capitalization added 850.91% to
$ZW15 311.63 billion from ZW$1 610.20
billion recorded in November 2022 on year-onyear basis comparison.

Victoria Falls Stock Exchange (VFEX)

The Victoria Falls Stock Exchange (VFEX)
traded in a positive trajectory in November
2023. As such, the All-Share index gained
1.85% to close at 69.07 points, from 67.81
points recorded in October 2023.

On an annual basis, however, the VFEX All
Share index lost 33.81%, from 104.34 points
recorded in November 2022.

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

Source: Victoria Falls Stock Exchange, 2023

VFEX Market Capitalization

During the month of November 2023 VFEX
market capitalization increased by 1.85% to
US$1.18 billion, compared to US$1.16 billion
recorded in the previous month.


Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
VALUE TRADED ($ MILLIONS)
VOLUME TRADED (MILIONS)
Volume
Value

30-Nov-22
31-Dec-22
31-Jan-23
28-Feb-23
31-Mar-23
30-Apr-23
31-May-23
30-Jun-23
31-Jul-23
31-Aug-23
30-Sep-23
31-Oct-23
30-Nov-23

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

Source: Victoria Falls Stock Exchange (VFEX), 2023
NATIONAL PAYMENTS SYSTEM

The value of transactions processed through the
National Payment Systems (NPS) increased to
ZW$37.57 trillion in November 2023, from
ZW$32.53 trillion in the previous month.
The volumes of NPS transactions rose to 64.45
million from 62.69 million during the month
under review, registering a 3% increase.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
Real Time Gross Settlement (RTGS) system
amounted to ZW$23.69 trillion in November
2023, reflecting an increase of 19.6% from
ZW$19.81 trillion in October 2023.
The volume of RTGS transactions, however,
decreased by 2.6%, from 949,138 in October
2023 to 924,474 in November 2023.
Figure 16: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2023

Mobile and Internet Based Transactions

Mobile
and
internet-based
transactions
increased by 8.75% to close at ZW$11.56
trillion during the month under review.
Cash Transactions
Cash based transactions decreased from
ZW$1.93 trillion in October 2023 to ZW$1.70
trillion in November 2023.
Card Transactions
Card
based
transactions
stood
at
ZW$2,33 trillion in November 2023, reflecting
a 0.11% increase from ZW$2.09 trillion in
October 2023.
INFLATION OUTTURN

Annual Inflation

Annual headline inflation increased to 21.6% in
November 2023 reflecting a 3.8 percentage
point gain from the 17.8% in recorded in

Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
US$ Billion


Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Value in ZW$ Billions
Volume in Thousands
Volume
Value

October 2023. This was attributed to increases
in both food and non-food inflation.

Monthly Inflation
The monthly inflation, rose to 4.5% in
November 2023 from 2.46% in October 2023.
Reflective of these developments, food
inflation rose to 4.9% in November 2023, from
2.4% in October 2023.
Monthly non-food inflation was higher at 4.4%
in November 2023 from 2.5% registered in the
previous month, in part, driven by energy
prices.

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


Source: ZIMSTAT, 2023


JANUARY 2024
RESERVE BANK OF ZIMBABWE


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
Food and non alcoholic beverages
Non food
All Items

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)
Nov-22
Dec-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
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 Governm

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)
-2,522,875,767.52 -2,752,119,965.08
-2,522,875,767.52
-2,752,119,965.08 -3,288,034,462.10 -3,489,169,273.48 -3,407,624,907.90 -4,062,967,487.72 -9,247,233,180.60 -20,527,245,199.85 -16,066,450,311.99 -16,618,302,828.46 -19,013,412,706.11 -20,151,231,734.56 -20,908,287,596.32
Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Deposits and Securities Excluded from Base

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in
Broad Money

Broad Money-M2

Other Deposits

of which Foreign Currency Accounts

Narrow Money-M1

Transferable Deposits

Of which Foreign Currency Accounts

Currency Outside Depository Corporation

Memorandum Items
Reserve Money

FCAs as a Percentage of Deposits in M

End Period Exchange Rate

Source: Reserve Bank of Zimbabwe, 2023

Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
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 Draw

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 Mon

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,2023
TABLE 2: CENTRAL BANK SURVEY ($'000)

TABLE 3 : OTHER DEPOSITORY CORPORATIONS SURVEY ( $ '000)
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
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
-

-

-

-

-

-

-

-

-

-

-

-

0.00
Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on the Central Bank

Currency

Reserves

Securities

Other Claims

Liabilities to the Central Bank

Other Items(Net)

Shares and Other Equity

Liabilities to other ressident sectors

Other Items(Net)

Deposits and Securities Included in Broad Money

Deposits Included in Broad Money
2,042,355,987.09

2,314,588,211.40

2,646,071,378.63

2,888,136,764.51

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
Transferable Deposits
1,853,157,849.44

2,081,176,430.96

2,371,032,667.32

2,594,362,513.35

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
of which FCAs
1,211,583,916.42

1,325,367,130.51

1,623,313,580.02

1,750,982,009.54

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
Other Deposits

of which FCAs

Money Market Instruments
13,438,521.87

14,148,964.76

15,056,472.03

15,711,655.30

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
Source:Reserve Bank of Zimbabwe,2023

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

Jan
183.4

3,176.6

13,217.3

1,073.2

8,142.0


Feb
267.1

3,136.4

13,817.0

1,504.5

8,642.5


Mar
263.6

3,607.6

16,167.1

2,214.4

12,681.9


Apr
298.5

3,642.9

17,926.4

1,523.3

13,697.1


May
330.0

3,581.8

21,376.4

1,749.6

15,757.4


Jun
606.6

9,584.7

29,457.9

3,974.7

35,786.5


Jul
690.8

18,357.0

54,139.7

5,578.7

42,159.7


Aug
975.1

28,776.0

54,868.5

4,623.1

41,100.2


Sep
1,084.2

30,217.6

56,679.6

4,426.6

39,530.8


Oct
1,064.2

32,235.0

66,948.5

4,457.3

40,092.7


Nov
1,063.6

34,673.9

73,237.2

4,211.3

41,173.6


Dec
1,177.8

39,886.8

76,076.5

5,771.7

38,623.2


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


Source:Reserve Bank of Zimbabwe,2023
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations.
Public
Enterprises
TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
$ millions
Debt Securities
Loans and Advances

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

Jan

Feb

Mar

Apr

May

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

Source:Reserve Bank of Zimbabwe,2023
TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
$ millions

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Government
Government
Enterprises
Institutional Units3
Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
165.80

2,845.62

12,018.43

708.00

7,706.57

1,811.38

4,029.43

-

125.52

14.97

5.11

12.17

326.11

10,766.91

77.59

2,965.93

3,395.90

8,058.15

55,033.6

Feb
251.70

2,756.57

12,731.97

889.16

8,264.76

1,532.87

3,877.19

-

117.45

13.99

5.15

11.56

329.47

11,656.91

88.37

5,441.70

11,907.90

8,653.69

68,530.4

Mar
242.41

3,063.92

14,545.58

1,948.14

12,381.17

2,497.47

4,373.76

-

0.08

20.23

4.39

11.39

765.82

14,041.67

127.46

7,917.31

5,718.53

9,244.62

76,904.0

Apr
263.29

3,147.75

16,673.44

1,287.51

13,285.14

3,056.32

4,235.96

-

0.08

18.39

4.47

9.75

834.72

14,864.30

129.90

7,642.80

6,534.14

9,703.93

81,691.9

May
284.33

3,144.57

19,827.46

1,553.68

15,003.29

3,130.38

4,160.50

-

0.12

45.79

4.53

9.61

768.01

17,762.27

143.44

7,042.04

6,012.40

9,845.09

88,737.5

Jun
515.11

8,372.39

26,368.55

3,570.85

34,550.44

7,527.46

5,841.98

-

0.12

90.14

4.29

9.41

2,010.79

26,638.87

215.56

24,299.33

14,590.26

18,983.05

173,588.6

Jul
577.99

16,536.53

49,470.13

4,219.81

40,259.84

11,399.93

6,357.84

-

-

74.57

4.33

12.61

1,025.78

33,054.99

229.06

28,551.07

10,247.64

19,646.49

221,668.6

Aug
821.16

26,519.73

49,165.59

4,265.44

38,763.72

14,219.24

6,484.68

-

-

39.07

14.05

14.74

1,046.29

38,741.31

231.00

25,354.64

9,460.49

19,961.16

235,102.3

Sep
891.26

27,646.41

51,169.67

3,898.65

38,420.20

14,126.83

6,354.19

-

-

107.40

9.61

22.30

1,050.38

41,088.91

228.95

28,289.36

17,608.70

19,375.08

250,287.9

Oct
896.48

29,309.79

60,589.19

3,602.58

38,877.31

13,530.74

7,763.97

-

20.06

109.83

17.57

22.18

1,019.00

48,440.92

268.07

29,764.70

15,978.22

19,616.63

269,827.2

Nov
919.42

31,596.89

67,899.10

3,494.87

39,693.38

14,134.74

7,098.29

-

0.02

110.37

20.00

16.81

1,269.94

54,496.74

259.90

29,821.16

16,683.48

19,526.70

287,041.8

Dec
1,019.76

36,507.59

70,392.07

4,949.48

37,346.17

10,803.58

9,985.57

-

-

1.18

23.30

26.76

1,269.01

62,953.03

718.16

29,608.01

12,793.91

28,230.82

306,628.4

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

Source:Reserve Bank of Zimbabwe,2023
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 5.1: COMMERCIAL BANKS -ASSETS
$ millions
Debt Securities
Loans and Advances

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

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Source:Reserve Bank of Zimbabwe,2023
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

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

Jan
16.3

322.3
1,106.8

361.8
421.8

-

283.0

20.1
-

-

478.2

-

1,498.8

717.5
1,552.8

6,779.5

Feb
14.5

368.2
977.2

612.5
370.5

-

357.1

20.1
-

1.5

503.6

-

2,097.7

735.9
1,538.8

7,597.4

Mar
20.1

529.4
1,423.7

261.8
282.6

-

341.6

19.2
-

0.6

526.4

-

2,406.4

1165.6
1,914.1

8,891.5

Apr
33.1

493.1
914.2

232.1
384.9

-

424.3

18.1
-

-

525.9

-

2,568.2

1528.5
2,134.4

9,256.8

May
39.7

434.7
1,248.4

192.3
725.0

-

382.4

17.0
-

-

517.6

-

2,793.4

2669.6
2,146.1

11,166.3

Jun
88.7

1167.9
2,857.8

395.9
1,222.0

-

385.4

13.8
-

-

653.4

-

4,663.9

2688.0
4,712.1

18,848.8

Jul
109.1

1780.7
3,878.9

1342.9
1,879.4

-

346.6

13.4
-

-

585.7

-

5,648.0

3879.5
4,927.7

24,391.8

Aug
142.9

2175.5
4,799.3

341.7
2,310.6

-

294.6

13.1
-

-

688.7

-

6,552.1

4480.3
6,104.6

27,903.4

Sep
179.8

2469.9
4,547.1

504.6
1,027.7

-

218.3

12.9
-

0.4

741.5

-

6,518.3

2774.9
6,503.8

25,499.1

Oct
149.1

2787.0
5,056.1

778.9
1,182.4

-

206.5

12.3
-

112.2

772.3

-

6,874.4

2795.4
6,537.1

27,263.4

Nov
104.3

2935.7
4,448.9

691.0
1,412.8

-

1,666.7

11.6
-

157.8

930.4

-

7,498.6

2571.1
6,712.9

29,141.9

Dec
116.2

3210.3
5,085.9

802.0
1,183.4

-

1,830.2

11.2
-

251.1

1,008.4

-

8,562.3

2559.4
7,352.9

31,973.2

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

Source:Reserve Bank of Zimbabwe,2023
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 6.1: BUILDING SOCIETIES -ASSETS
$ millions
Debt Securities
Loans and Advances

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

Jan

Feb

Mar

Apr

May

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

Source:Reserve Bank of Zimbabwe,2023
Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
$ millions

AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

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

Source:Reserve Bank of Zimbabwe,2023
/1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES
$ ('000)

END OF
AGRICULTURE
CONSTRUCTION
COMMUNICATIONS
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
INVESTMENTS
ORGANISATIONS
1,000.00

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

Source: Reserve Bank of Zimbabwe,2023
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
$ ('000)

End of
Nominal
Lending Rates 1
Individuals
Corporate

Jan
6.00-65.00
32.65
24.77
Feb
6.00-85.00
36.67
21.36
Mar
6.00-85.00
35.83
22.61
Apr
6.00-85.00
35.22
22.59
May
6.00-85.00
34.84
21.76
Jun
6.00-85.00
36.25
22.46
Jul
6.00-85.00
36.56
21.66
Aug
6.00-85.00
41.06
39.65
Sep
6.00-85.00
40.61
39.50
Oct
6.00-85.00
41.86
45.81
Nov
6.00-8500
39.13
38.10
Dec
6.00-8500
39.34
37.94

Jan
15.00-85.00
39.32
39.62
Feb
15.00-85.00
40.55
64.02
Mar
15.00-85.00
40.74
43.88
Apr
15.00-85.00
38.15
45.56
May
15.00-85.00
38.01
47.25
Jun
15.00-85.00
38.45
48.25
Jul
80.00-240.00
82.75
165.45
Aug
80.00-230.00
88.46
155.96
Sep
100.00-230.00
98.07
158.46
Oct
100.00-290.00
99.37
115.26
Nov
100.00-290.00
99.03
110.97
Dec
100.00-290.00
99.02
110.83

Jan
100.00-240.00
90.05
116.03
Feb
65.00-230.00
60.12
80.88
Mar
65.00-230.00
74.35
81.46
Apr
70.00-230.00
74.48
86.96
May
70.00-230.00
77.86
83.61
Jun
70.00-155.00
76.33
92.64
Jul
64.00-155.00
77.82
94.80
Aug
64.00-155.00
77.63
93.18
Sep
64.00-160.00
76.49
92.69
Oct
64.00-160.00
71.72
92.43
Nov
64.00-160.00
70.15
93.15
Source:Reserve Bank of Zimbabwe, 2023
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal lending rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Lending Rates

TABLE 8.2 : BANK DEPOSIT RATES (percent per annum)
END OF
SAVINGS
3 MONTHS

Jan
0.22-12.00
2.00-21.50
Feb
0.22-12.00
2.00-21.50
Mar
0.22-12.00
2.00-21.50
Apr
0.22-12.00
2.00-21.50
May
0.22-12.00
2.00-21.50
Jun
0.25-12.00
2.00-26.00
Jul
0.50-12.00
2.00-26.00
Aug
0.50-12.00
2.00-26.00
Sep
0.50-12.00
2.00-26.00
Oct
0.50-12.00
2.00-26.00
Nov
0.50-12.00
2.00-26.00
Dec
0.50-12.00
2.00-26.00

Jan
0.50-12.00
2.00-26.00
Feb
0.50-12.00
2.00-26.00
Mar
0.50-12.00
2.00-26.00
Apr
0.50-12.50
2.00-30.00
May
0.50-12.50
2.00-32.00
Jun
0.50-12.50
2.00-32.00
Jul
40.00
80.00-92.00
Aug
40.00
80.00-92.00
Sep
40.00
80.00-92.00
Oct
40.00
80.00-92.00
Nov
40.00
80.00-92.00
Dec
40.00
80.00-95.00

Jan
40.00
80.00-110.00
Feb
30.00
50.00-110.00
Mar
30.00
50.00-110.00
Apr
30.00
50.00-110.00
May
30.00
50.00-110.00
Jun
30.00
50.00-110.00
Jul
30.00
50.00-110.00
Aug
30.00
50.00-110.00
Sep
30.00
50.00-110.00
Oct
30.00
50.00-110.00
Nov
30.00
50.00-110.00
Source:Reserve Bank of Zimbabwe, 2023
* Deposit rates depict the range of rates qouted by banks.
COMMERCIAL BANKS

ALCOHOLIC
BEVERAGES
CLOTHING
&
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNIC
ATION
RECREATION &
EDUCATION
RESTAUR
ANTS &
MISC.
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Source:Zimstat, 2023
FOOD & NON
ALCOHOLIC
BEVERAGES
ALL
ITEMS
TABLE 9.1 : MONTHLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
TOTAL NON

FOOD
INFLATION
ALCO HO LIC
CLO T HING
HO US ING ,
W AT E R,
FURNIT URE
MIS C.
FO O D &
B E VE RAG E S
&
E LE CT RICT Y,
G AS
AND
RE CRE AT IO N &
RE S T AURANT S
&
G O O DS &
T O T AL NO N
NO N
ALCO HO LIC
ALL
& T O B ACCO
FO O T W E AR
& O T HE R
E Q UIP ME NT
CULT URE
HO T E LS
S E RVICE S
FO O D
B E VE RAG E S
IT E MS
FUE LS
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

Source:Zimstat, 2023
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
NON-FOOD INFLATION
HE ALT H
T RANS P O RT
CO MMUNICAT IO N
E DUCAT IO N

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

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Source: Reserve Bank of Zimbabwe, 2023
TABLE 10 : SELECTED INTERNATIONAL EXCHANGE RATES
1. ZWL$ dollar per unit of foreign currency

END OF
Market Capitalisation
All Share*
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

Source:Zimbabwe Stock Exchange, 2023
*All Share index was introduced in January, 2018
**As at 26 June 2020
TABLE 11: ZIMBABWE STOCK MARKET STATISTICS
Market Turnover
ZWL$ million
Volume of Shares
Mining
Indices

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

Source:Reserve Bank of Zimbabwe, 2023
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

Source:Reserve Bank of Zimbabwe, 2023
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

Source: ZIMSTAT, 2023
TABLE 13 : MERCHANDISE TRADE STATISTICS
(US$ millions)