[Date]
.


NOVEMBER 2014


i

MONTHLY ECONOMIC REVIEW
TABLE OF CONTENTS

SELECTED ECONOMIC INDICATORS 1
STOCK MARKET DEVELOPMENTS 2
MONETARY DEVELOPMENTS 2
INFLATION OUTTURN 4
NATIONAL PAYMENTS SYSTEM 5
COMMODITY PRICE DEVELOPMENTS 5

MONTHLY ECONOMIC REVIEW

October

November
Month-on-
Month
Change
Z.S.E. Mining Index1
70.38
64.39
-8.51%
Z.S.E. Industrial Index1
177.88
171.45
-3.61%
Money Supply (US$)2
4.46 billion
4.42 billion
-1.73%
Money Supply (M3) Annual Growth2
12.79%
15.98%

Yearly Inflation3
-0.001%
-0.78%
-0.69%
Nominal Lending Rate
6.00-35.00%
6.00-35.00%

Sources:
1 Zimbabwe Stock Exchange (ZSE)
2 Reserve Bank of Zimbabwe (RBZ)
3 Zimbabwe National Statistics Agency (ZIMSTAT)


SELECTED ECONOMIC INDICATORS

MONTHLY ECONOMIC REVIEW
STOCK MARKET DEVELOPMENTS

Global stock markets recovered during the month of
November 2014, despite the mixed economic data
coming out of the US and Eurozone. Expectations
that the European Central Bank (ECB) would
implement Quantitative Easing (QE), resulted in a
rally in Eurozone stock markets.
There were mixed developments in the African
markets. The decline in oil prices, following the
Organization of Petroleum Exporting Countries’
decision to keep oil production levels unchanged,
continued to weigh down the Nigerian stock market.
Declines were also recorded in Kenya, whilst gains
were recorded in South Africa and Egypt.
Trading on the Zimbabwe Stock Exchange (ZSE) was
characterized by bearish sentiments, resulting in the
industrial and mining indices declining further. The
industrial index fell by 3.61%, from 177.88 points in
October to 171.45 points at the end of November
2014. On a year to date basis, the industrial index
declined by 15.1%. The mining index also fell by
8.5% in November 2014, to close the month at 64.39
points.


The volume of shares traded on the ZSE, rose to
149.10 million shares in November 2014, from
124.97 million shares in October. On an annual basis,
the volume of shares traded recorded a 21.1% decline.
Market turnover increased by 21.78%, from
US$28.26 million in October, to US$34.41 million in
November 2014. On a year-on-year basis, however,
market turnover declined by 1.6%.

Source: Zimbabwe Stock Exchange
The bearish market conditions resulted in market
capitalization closing the month of November 2014 at
US$4 517.9 million, down from US$4 664.8 million
in October 2014.
MONETARY DEVELOPMENTS

Annual growth in broad money rose to 15.98% in
November 2014, from 12.79% in October, the highest
such annual increase in nearly 2 years. In absolute
terms, broad money rose from US$3 807.1 million in

03-Feb-12
03-May-12
03-Aug-12
03-Nov-12
03-Feb-13
03-May-13
03-Aug-13
03-Nov-13
03-Feb-14
03-May-14
03-Aug-14
03-Nov-14
ZSE Indices
Industrial
Mining

0.5

1.5

2.5

3.5

4.5

VALUES TRADED (US$ MILLIONS)
VOLUMES TRADED (MILLIONS)
ZSE: Daily Volumes and Values
ZSE: Daily Volumes and Values Traded
Traded
Volume
Turnover
Source: Zimbabwe Stock Exchange


MONTHLY ECONOMIC REVIEW

November 2013 to US$4 415.47 million in November
2014.

Source: Reserve Bank of Zimbabwe
The growth in broad money was driven by increases
across all deposit classes, with the exception of short
term deposits. Long term deposits registered the
largest annual growth of 45.82% in November 2014.
Over the same period, savings, demand, and short
term deposits, recorded increases of 24.11%, and
11.34%, respectively. Short term deposits, however,
declined by 0.8% over the same period.

Despite growth in the deposit base, the annual
increase in domestic credit remained somewhat stable
at 6.4% in November 2014. The growth was
underpinned by an annual increase of 39.37% in net
credit to Government. Credit to the private sector also
registered an annual increase of 3.4%.
Net credit to Government was largely driven by
Treasury bill issuances, which registered a 147.83%
annual growth during the period under review.
Partially offsetting this increase was a 17.76% decline
in loans and advances to Government. The increase in
Treasury bill issuances partly reflected the slowdown
in Government revenue collections as a result of the
economic downturn. On a monthly basis, however,
net credit to Government decreased by 1.72%, from
US$470.50 million in October, to US$462.43 million
in November 2014.
Credit to the productive sectors of the economy
maintained an upward trend, rising from 1.8% in
October, to 3.4% in November 2014. In absolute
terms, credit to the private sector grew by
US$35.4 million, from US$3 788.45 million in
October to US$3 823.85 million in November 2014.

Source: Reserve Bank of Zimbabwe
-5


May
Jul
Sep
Nov
Jan
Mar
May
Jul
Sep
Nov
Jan
Mar
May
Jul
Sep
Nov
%
US$ BILLIONS
Money Supply
Money Supply
M3
M3 Annual Growth
Short
Term
18%
Long Term
20%
Demand
49%
Savings
13%Banking Sector Deposits
Banking Sector DepositsNovember 2014
November 2014
Loans&Advances
82.47%
Bills
Discounted
1.43%
Bankers
acceptances
0.95%
Other
investments
1.75%
Mortgages
13.40%Credit to Private Sector
Credit to Private SectorNovember 2014
November 2014
Source: Reserve Bank of Zimbabwe


MONTHLY ECONOMIC REVIEW

During the month under review, loans and advances
constituted 82.47% of the total credit to the private
sector, followed by mortgages, 13.40%; other
investments, 1.75%; bills discounted, 1.43%; and
bankers’ acceptances, 0.95%.
Credit was mainly channeled to the agriculture
(19.29%); distribution (15.47%); manufacturing
(15.24%); services (13.88%); mining (7%); financial
(4.04%); transport and communications (3.8%); and
construction (1.97%) sectors. Households accounted
for 18.15% of credit to the private sector.
The credit advanced to the private sector was mainly
utilized for working capital requirements (78.61%),
procurement of consumer durables (11.44%) and
other purchases (9.95%). Loans and advances utilized
for fixed investment activity remained low, with the
procurement of plant and equipment accounting for
only 4% of total loans and advances.
INFLATION OUTTURN

Annual Inflation
The economy which had temporarily emerged from
deflation in July 2014, slid back into deflation in
October 2014. Annual headline inflation, which was
-0.001% in October 2014, declined further to -0.78%
in November 2014, largely driven by the decline in
food prices.
Annual food inflation remained in negative territory
at -2.75% in November 2014, from -3.23% in October
2014. This was largely attributed to the decline in
prices of sugar, jam, honey and chocolate; meat;
bread and cereals; and milk cheese and eggs, among
others.
The prices of bread and cereals; meat; fish and sea
food; as well as milk, cheese, and eggs prices have
continued to fall, largely on the back of declining
demand due to low disposable incomes.
Annual non-food inflation stood at 0.17% in
November 2014, down from 1.59% in October 2014.
This
was
mainly
driven
by
decreases
in
communication; housing, electricity, water, gas and
other fuels; recreation and culture.

Source: Zimbabwe Statistics Agency
Liquid fuel prices have been falling, on the back of
declining international oil prices, which fell from a
monthly average of US$107.26 per barrel in
November 2013, to US$80.04 per barrel in November
2014.
Partially offsetting the declines were increases in
alcoholic
beverages
and
tobacco;
education;
transport; and health services.

Monthly Inflation
Month-on-month inflation stood at -0.69% in
November 2014, shedding 0.58 percentage points
from -0.11% in October 2014. This was on account of
declines in both food and non-food inflation.
Monthly food inflation stood at -0.11% in November
2014, up from -0.24% in October 2014. This followed
declines in bread and cereals; milk, cheese and eggs;
and vegetables.


Annual Inflation
(%)
Headline Inflation
Food
Non Food


MONTHLY ECONOMIC REVIEW

Monthly non-food inflation fell from -0.04% in
October 2014 to -0.96% in November 2014. Declines
in housing, water, electricity, gas and other fuels;
furniture, household, equipment and maintenance;
education, and restaurants and hotels, in large part,
accounted for this decrease.
NATIONAL PAYMENTS SYSTEM

Zimbabwe Electronic Transfer Settlement System
(ZETSS)
In November 2014, the value of transactions
processed through the RTGS system stood at
US$4.1 billion, 7% higher than the US$3.8 billion
recorded in October 2014. In volume terms, total
transactions registered a decrease of 14% from 200
323 to 171 446 during the same period.
Source: Reserve Bank of Zimbabwe


Card Based Transactions
The total value of card based transactions were lower
at US$331.71 million in November 2014, compared
to US$441.77 million in October 2014.
Mobile and Internet Based Transactions
The total value of mobile and internet based
transactions declined from US$479.70 million in
October 2014, to US$279.52 million in November
2014.
Cheque Transactions
The period under analysis also saw the value of
cheque transactions fall to US$11.40 million in
November 2014, from US$13.58 million in October
2014.
COMMODITY PRICE DEVELOPMENTS

Commodity prices in November, were generally
affected by a strong US dollar and expectations that
the Federal Reserve would tighten its monetary
policy. Base metals declined amid concerns of weak
global demand.
Precious Metals
Gold prices retreated by 3.86%, from US$1 222.49/oz
in October to US$1 175.33/oz in November 2014.
Similarly, platinum prices also declined by 4.08%
from US$1 259.76/oz in October 2014 to
US$1 208.32/oz in November 2014.
The weaknesses in gold and platinum prices reflected
concerns about possible monetary policy tightening
and a stronger US dollar, which dampened the appeal
of the metals as safe haven assets. Weak physical
demand for precious metals by traditional buyers,
notably China and India further weighed down the
prices.

Nov-11
Mar-12
Jul-12
Nov-12
Mar-13
Jul-13
Nov-13
Mar-14
Jul-14
Nov-14
-

VALUE IN US$ BILLIONS
VOLUME IN THOUSANDS
ZETSS Volumes and Values
ZETSS Volumes and Values
Volume
Value


MONTHLY ECONOMIC REVIEW

Source: Bloomberg, BBC and KITCO

Source: Bloomberg, BBC and KITCO


Base Metals
Concerns about the reduction in global demand,
emanating from the slowdown in China and other
emerging economies led to a fall in base metal prices
in November 2014. In addition, the accumulation of
base metal inventories in most markets also
dampened prices.
Consequently,
nickel
prices
retreated
from
US$15
812.37/tonne
in
October
to
US$15 807.05/tonne in November 2014. Copper
prices also declined from US$6 737.48/tonne in
October 2014 to US$6 712.85/tonne in November
2014.

Source: Bloomberg, BBC and KITCO

1260Gold (US$/oz)
Gold (US$/oz)

1290Platinum (US$/oz)
Platinum (US$/oz)
14000
15000
16000
17000Nickel (US$/Tonne)
Nickel (US$/Tonne)


MONTHLY ECONOMIC REVIEW

Source: Bloomberg, BBC and KITCO

Crude Oil
Crude oil prices fell from an average of
US$88.22/barrel in October to an average of
US$80.04/barrel in November 2014. The decline was
attributed to increased production from U.S. shale oil
output and low growth in demand, particularly in
Europe and Asia. Furthermore, key OPEC producers,
particularly Saudi Arabia, were not keen to support
moves to cut output to bolster prices and this exerted
downward pressure on prices.

Source: Bloomberg, BBC and KITCO


RESERVE BANK OF ZIMBABWE
DECEMBER 2014

6900Copper (US$/Tonne)
Copper (US$/Tonne)

1-Oct
6-Oct
9-Oct
14-Oct
17--Oct
22-Oct
27-Oct
30-Oct
4-Nov
7-Nov
12-Nov
17-Nov
20-Nov
25-Nov
28-Nov
Crude Oil (U
Crude Oil (US$/Barrel)

MONTHLY ECONOMIC REVIEW
Statistical Tables

1. Monetary Statistics

1.1 Monetary Aggregates

1.2 Broad Money Survey

1.3 Analysis of Monthly Changes in Money Supply

1.4 Analysis of Yearly Changes in Money Supply

2. Sectoral Analysis of Bank Loans and Advances and Deposits

2.1 Sectoral Analysis of Commercial Banks Loans and Advances 14

2.2 Sectoral Analysis of Commercial Banks Deposits

3. External Statistics

3.1 Total External Debt Outstanding by Debtor

4. Interest Rates

4.1 Lending Rates

4.2 Banks Deposit Rates

5. Inflation

5.1 Monthly Inflation

5.2 Yearly Inflation

6. Exchange Rates

7. Commercial Banks

7.1 Assets

7.2 Liabilities

MONTHLY ECONOMIC REVIEW

8. Accepting Houses

8.1 Assets

8.2 Liabilities

9. Building Societies

9.1 Assets

9.2 Liabilities

10. Zimbabwe Stock Exchange Statistics

11. Savings with Financial Institutions

12. Analysis of Liquid Assets of Monetary Banks

13. ZETSS, Cheques and Cards Activity


13.1 Values of Transactions

13.2 Volumes of Transactions

MONTHLY ECONOMIC REVIEW


November
December
January
February
March
April
May
June
July
August
September
October
November
RBZ Demand Deposits

Comm. Banks Dem. Deposits

Merchant Banks Dem. Deposits

M1

Comm. Banks Savings Deposits

Building Soc. Savings Deposits

P O S B Savings Deposits

Comm. Banks U-30 Day Deposits

Merchant Banks U-30 Day Deposits

Building Soc. U- 30 Day Deposits

M2

Comm. Banks O-30 Day Deposits

Merchant Banks O-30 Day Deposits

Building Soc. O- 30 Day Deposits

Building Soc. Other Share Deposits

P O S B Time Deposits

M3


TABLE 1.1 : MONETARY AGGREGATES

US$ Thousands


MONTHLY ECONOMIC REVIEW

NOVEMBER
DECEMBER
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
NET FOREIGN ASSETS

Assets

Reserve Bank (RBZ)

Deposit Money Banks (DMBs)

Other Banking Institutions (OBI

Liabilities \2

RBZ

DMBs

OBIs

NET DOMESTIC ASSETS

DOMESTIC CREDIT

Claims on Government (net)

RBZ

DMBs

OBIs

Claims on Public Enterprises

RBZ

DMBs

Agri-PEs

Other

OBIs

Claims on Private Sector

RBZ

DMBs

OBIs

OTHER ITEMS (NET)

BROAD MONEY (M3)


US$ Thousands
TABLE 1.2 : BROAD MONEY SURVEY


MONTHLY ECONOMIC REVIEW

NOVEMBER
DECEMBER
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
NET FOREIGN ASSETS

Assets

Reserve Bank (RBZ)

Deposit Money Banks (DMBs)

Other Banking Institutions (OBIs) \1

Liabilities \2

RBZ

DMBs

OBIs

NET DOMESTIC ASSETS \3

DOMESTIC CREDIT

Claims on Government (net)

RBZ

DMBs

OBIs

Claims on Public Enterprises

RBZ

DMBs

Agri-PEs

Other

OBIs

Claims on Private Sector

RBZ

DMBs

OBIs

OTHER ITEMS (NET)

BROAD MONEY (M3)

Broad Money (M3)

Domestic Credit

Claims on Private Sector


US$ Thousands
TABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3)


MONTHLY ECONOMIC REVIEW

NOVEMBER
DECEMBER
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
NET FOREIGN ASSETS

Assets

Reserve Bank (RBZ)

Deposit Money Banks (DMBs)

Other Banking Institutions (OBIs) \1

Liabilities \2

RBZ

DMBs

OBIs

NET DOMESTIC ASSETS \3

DOMESTIC CREDIT

Claims on Government (net)

RBZ

DMBs

OBIs

Claims on Public Enterprises

RBZ

DMBs

Agri-PEs

Other

OBIs

Claims on Private Sector

RBZ

DMBs

OBIs

OTHER ITEMS (NET)

BROAD MONEY (M3)

GROWTH RATES
Broad Money (M3)

Domestic Credit

Claims on Private Sector


TABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3)
$ Thousands


MONTHLY ECONOMIC REVIEW

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


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

/1 Including the only merchant bank still in operation.
TABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1
$ Thousands


MONTHLY ECONOMIC REVIEW

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

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

/1 Including the only merchant bank still in operation.
TABLE 2.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
US$ Thousands


MONTHLY ECONOMIC REVIEW

End Pe rio d
Jun- 0 5
Jun- 0 5

( U S $ millio ns )
Lo ng - Te rm Ext e rnal D e b t

Go ve rnme nt

Bilateral Creditors


Multilateral Creditors

Private Creditors

Pub lic Ent e rp ris e s


Bilateral Creditors

Multilateral Creditors

Private Creditors

M o ne t ary A ut ho rit ie s

Multilateral Creditors - IMF

Privat e
16 2

6 7

4 1

4 5

3 5


S ho rt - Te rm Ext e rnal D e b t


Supplier's Credits

Reserve Bank

Private

To t al Ext e rnal D e b t

Gro s s D o me s t ic Pro d uc t

Ext e rnal D e b t / GD P

SOURCE: M inistry of Finance and Reserve Bank of Zimbabwe
TABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS) (WITH RBZ)


MONTHLY ECONOMIC REVIEW

End Period
Nominal Lending Rates2
Individuals
Corporate
Nominal Lending
Rates2
Individuals
Corporate

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Notes
3. Lending rates exclude rates on staff loans.
TABLE 4.1 LENDING RATES (percent per annum)1
2. Nominal Lending Rates depict the range of rates quoted by banks.
Commercial Banks
Merchant Banks
Weighted Average Lending Rates3
Nominal Lending Rates3
1. Table revised, to separate weighted lending rates for individuals and corporate bodies.


MONTHLY ECONOMIC REVIEW

ACCEPTING HOUSES
END OF
SAVINGS
3 MONTHS
3 MONTHS

Jan
0.15-8.00
4.00-20.00
6.00-17.00
Feb
0.15-8.00
4.00-20.00
6.00-17.00
Mar
0.15-8.00
4.00-20.00
8.00-12.00
Apr
0.15-8.00
4.00-20.00
8.00-12.00
May
0.15-8.00
4.00-20.00
6.00-17.00
Jun
0.15-8.00
4.00-20.00
6.00-17.00
Jul
0.15-8.00
3.00-20.00
6.00-17.00
Aug
0.15-8.00
3.00-20.00
6.00-17.00
Sep
0.15-8.00
3.00-20.00
11.00-12.00
Oct
0.15-8.00
3.00-20.00
11.00-12.00
Nov
0.15-8.00
3.00-20.00
11.00-12.00
Dec
0.15-8.00
3.00-20.00
11.00-12.00

Jan
0.15-8.00
3.00-20.00
11.00-12.00
Feb
0.15-8.00
3.00-20.00
11.00-12.00
Mar
0.15-8.00
3.00-20.00
11.00-12.00
Apr
0.15-8.00
3.00-20.00
11.00-12.00
May
0.15-8.00
3.00-20.00
11.00-12.00
Jun
0.15-8.00
3.00-20.00
11.00-12.00
Jul
0.15-8.00
3.00-20.00
11.00-12.00
Aug
0.15-8.00
4.00-20.00
11.00-12.00
Sep
0.15-8.00
4.00-20.00
11.00-12.00
Oct
0.15-8.00
4.00-20.00
11.00-12.00
Nov
0.15-8.00
4.00-20.00
11.00-12.00
* The range of rates qouted by banks during the period.
TABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)*
COMMERCIAL BANKS


MONTHLY ECONOMIC REVIEW

FOOD IN FLA TION
A LL
A LC OHOLIC
B EV ER A GES
C LOTHIN G
HS IN G, WA TER ,
FU R N ITU R E
HEA LTH
TR A N S POR T
C OM M U N IC A TION
R EC R EA TION &
ED U C A TION
R ES TA U R A N TS &
M IS C .
TOTA L N ON
FOOD &
ITEM S
& TOB A C C O
FOOTWEA R
ELEC TR IC TY ,
GA S
A N D
C U LTU R E
HOTELS
GOOD S &
FOOD
N ON A LC OHOLIC
B EV ER A GES
& OTHER
EQU IPM EN T
S ER V IC ES
FU ELS
WEIGHTS


OC TOB ER

N OV EM B ER

D EC EM B ER


JA N U A R Y

FEB R U A R Y

M A R C H

A PR IL

M A Y

JU N E

JU LY

A U GU S T

S EPTEM B ER

OC TOB ER

N OV EM B ER

N ON - FOOD IN FLA TION
TABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX
( DECEMBER 2012 = 100)


MONTHLY ECONOMIC REVIEW

FOOD
IN FLA TION
A LL
A LC OHOLIC
B EV ER A GES
C LOTHIN G
HS IN G,
WA TER ,
FU R N ITU R E
HEA LTH
TR A N S POR T
C OM M U N IC A
TION
R EC R EA TION
&
ED U C A TION
R ES TA U R A N
TS &
M IS C .
TOTA L N ON
FOOD &
ITEM S
& TOB A C C O
FOOTWEA R
ELEC TR IC TY ,
GA S
A N D
C U LTU R E
HOTELS
GOOD S &
FOOD
N ON
A LC OHOLIC
B EV ER A GES
& OTHER
EQU IPM EN T
S ER V IC ES
FU ELS
WEIGHTS

S EPTEM B ER

OC TOB ER

N OV EM B ER

D EC EM B ER

JA N U A R Y

FEB R U A R Y

M A R C H

A PR IL

M A Y

JU N E

JU LY

A U GU S T

S EPTEM B ER

OC TOB ER

N OV EM B ER

N ON - FOOD IN FLA TION
TABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \1
(DECEMBER 2012 = 100)


MONTHLY ECONOMIC REVIEW

SA
BW
JAPANESE
EUROPEAN
POUND
END OF
RAND/1
PULA/1
YEN/1
CURRENCY/2
STERLING/2

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES


MONTHLY ECONOMIC REVIEW

Loans &
Contigent
Other
Non Financial
TOTAL
End of
Notes
Total
Other Balances
Advnces
Assets
Assets
Assets
&
Balances
Balances
Balances
with RBZ
Coin
with
with Other
at
Trade
Treasury
Agric PEs

at Banks
RBZ
Banks
Foreign Banks
Bills
Bills
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug.

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Liquid Assets
TABLE 7.1: COMMERCIAL BANKS - ASSETS
Securities
US$ Millions


MONTHLY ECONOMIC REVIEW

Deposits
Capital
Contigent
Other
Total
Of which
and
Liablities
Liablities
Liabilities to the
End of
Demand
Savings and Short-term
Long-term
Total
Foreign Liabilities
RBZ
Other Banks
Reserves
Public

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug.

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

TABLE 7.2: COMMERCIAL BANKS - LIABILITIES
US$ Millions
Amounts Owing to


MONTHLY ECONOMIC REVIEW

Loans &
Contigent
Other
Non Financial
TOTAL
End of
Notes
Total
Other Balances
Advnces
Assets
Assets
Assets
&
Balances
Balances
Balances
Liquid
with RBZ
Coin
with
with Other
at
Trade
Treasury
Agris Pes
Assets
at Banks
RBZ
Banks
Foreign Banks
Bills
Bills

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

US$ Millions
TABLE 8.1 : ACCEPTING HOUSES - ASSETS
Liquid Assets
Securities


MONTHLY ECONOMIC REVIEW

Of which
Deposits
Capital
Contigent
Other
Total
Liabilities to the
and
Liablities
Liablities
Public
End of
Demand
Savings and Short-term
Long-term
Total
Foreign Liabilities
RBZ
Other Banks
Reserves

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Amounts Owing to
TABLE 8.2 : ACCEPTING HOUSES - LIABILITIES
US$ Millions


MONTHLY ECONOMIC REVIEW

Mortgage
Other
Other
Non Financial
TOTAL
End of
Notes
Total
Other Balances
Advances
Advances
Assets
Assets
&
Balances
Nostro
with RBZ/1
Coin
with Other
Balances
Trade
Treasury
Agris Pes
at Banks
Banks
Bills

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Liquid Assets
Securities
TABLE 9.1 : BUILDING SOCIETIES - ASSETS
US$ Millions


MONTHLY ECONOMIC REVIEW

Of which
Capital
Other
Total
Liabilities to the
and
Liabilities
Public
End of
Savings and Short-term
Long-term
Total
Foreign Liabilities
Other Banks
Reserves

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Deposits
TABLE 9.2 : BUILDING SOCIETIES - LIABILITIES
US$ Millions
Amounts Owing to


MONTHLY ECONOMIC REVIEW

Market Capitalisation
Industrial
Mining
US$ Millions

Jan
179.34
84.07
4700.33
Feb
182.3
72.01
4748.24
Mar
183.9
66.2
4726.34
Apr
189.66
71.98
4894.68
May
212.72
73.99
5471.22
Jun
211.19
73.29
5436.57
Jul
232.87
66.77
5936.78
Aug
181.67
48.73
4682.27
Sep
200.05
49.9
5157.2
Oct
209.74
52.68
5407.42
Nov
213.04
47.02
5482.03
Dec
202.12
45.79
5203.13

Jan
189.25
35.4
4882.11
Feb
189.45
39.24
4906.94
Mar
176.32
29.51
4560.29
Apr
172.91
29.64
4473.51
May
174.89
35.45
4485.11
Jun
186.57
61.32
4873.4
July
188.07
95.00
4959.21
Aug
196.43
104.8
5186.63
Sep
195.25
92.75
5140.20
Oct
177.88
70.38
4664.80
Nov
171.45
64.39
4517.93
Indices
Table 10: ZIMBABWE STOCK MARKET STATISTICS


MONTHLY ECONOMIC REVIEW

Commercial
Accepting
Building
End of
Banks
Houses
P.O.S.B.
Societies
TOTAL

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

1/ Comprises all deposits other than demand deposits.
TABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS
US$ Millions


MONTHLY ECONOMIC REVIEW

Liquid
Prescribed
Excess
Liquid
Prescribed
Excess
assets
liquid
liquid
assets
liquid
Liquid
End of
held
assets/1
assets
held
assets/1
assets

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

US$ Millions
TABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS
Commercial Banks
Accepting Houses


MONTHLY ECONOMIC REVIEW

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Annual Total


Jan

Feb

Mar

Apr

May

Jun

Jul
3955.45
11.72
125.81

312.35
101.75
Aug

Sep

Oct

Nov

TABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Values of Transactions (US$ in millions)


MONTHLY ECONOMIC REVIEW

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Annual Total


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

TABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Volumes of Transactions (in thousands)

MONTHLY ECONOMIC REVIEW