Vol. 26 No. 52


Week Ending
27th DECEMBER 2024
Weekly Economic
Highlights
TABLE OF CONTENTS


GOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND
7.

1. OVERVIEW


This report provides an overview of weekly monetary and financial developments for the week ending 27th
December 2024. The review includes developments in domestic and international money and capital markets,
national payment systems, commodity prices and exchange rates.
During the week under review, local currency minimum and maximum deposit rates remained unchanged,
compared to previous week’s levels, except for 1 month tenor maximum deposit rates, which increased.
During the same week, both local currency minimum lending rates for individuals and for corporate clients
declined. Foreign currency minimum lending rates for individual clients decreased, while the maximum
lending rates remained the same, compared to previous week levels. For foreign corporate clients, the
minimum foreign currency lending rates declined while the maximum rates increased during the period under
review.
In the capital markets, both the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange
(VFEX) traded positively. The ZSE All-Share Index gained 0.62% to close the week at 216.88 points, and the
VFEX All-Share Index increased by 1.82%, to close the week at 100.22 points.

ZSE market turnover, however, declined during the week under analysis, due to limited trading activity during
the festive holidays.

The value of transactions processed through the National Payment Systems platforms declined by 38.27% to
ZiG27.17 billion, from ZiG44.02 billion recorded in the previous week.

On the interbank market, the Zimbabwe Gold (ZiG) depreciated by 0.17% against the greenback, from an
average of ZiG25.73 per US$1 in the previous week to an average of ZiG25.78 per US$1, during the week
under review.
Weekly average international prices for gold, palladium, nickel, and lithium decreased, while platinum and
crude oil prices increased, during the week under review.
During the week ending December 27, 2024, platinum prices rose due to speculation about potential supply
shortages stemming from mining restrictions and supply chain issues. Similarly, Brent crude oil prices
increased as demand rose following a rapid recovery in China, the largest oil importer globally.
Gold prices decreased as U.S. treasury yields increased as the Federal Reserve prioritized controlling inflation,
by raising interest rates. Palladium prices were adversely weighed down by reduced demand from the
automotive sector, which dampened overall demand. Nickel prices also decreased due to weakened demand
in major global economies. Lithium prices declined, driven by the fall in demand for electric cars and
suppressed demand for lithium batteries.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
6 December 2024
13 December 2024
20 December 2024
27 December 2024
Savings


Minimum

Maximum

1-month deposit


Minimum

Maximum

3-months deposit


Minimum

Maximum

6-months deposit


Minimum

Maximum

12-months deposit


Minimum

Maximum

Over 1 year


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2024


Average commercial bank deposit rates (Foreign Currency (US$) (%)
US$ Deposit rates
6 December 2024
13 December 2024
20 December 2024
27 December 2024
Savings


Minimum

Maximum

1-month deposit


Minimum

Maximum

3-month deposit


Minimum

Maximum

6-month deposit


Minimum

Maximum

12-Month deposit


Minimum

Maximum

Over 1 year


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2024

Commercial bank weighted lending rates (Local Currency (ZiG) (%)
ZiG Lending rates
6 December 2024
13 December 2024
20 December 2024
27 December 2024
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2024


Commercial bank weighted lending rates (Foreign Currency (US$) (%)
US$ Lending rates
6 December 2024
13 December 2024
20 December 2024
27 December 2024
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2024


Commercial banks and building societies mortgage lending rates (%)
Mortgage Lending rates
6 December 2024
13 December 2024
20 December 2024
27 December 2024
ZiG Lending rates


Minimum

Maximum

US$ Lending rates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2024


3. EQUITY MARKETS


ZSE Indicators


All Share
Index
(points)
Top 10
Index
(points)
Top 15
Index
(points)
Medium Cap
(points)
Small Cap
(points)
Mining
Index
(points)
Grand
Market Cap
(ZiG billion)
Market
Turnover
(ZiG million)
Volume of
Shares
(million)
6-Dec-24

13-Dec-24

20-Dec-24

27-Dec-24

Weekly
Change (%)

Source: Zimbabwe Stock Exchange, 2024

VFEX Indicators
Date
All Share Index
Points
Grand Market Capitalisation
(US$ billion)
Market Turnover
(US$ million)
Volume of Shares
(million)
6-Dec-24

13-Dec-24

20-Dec-24

27-Dec-24

Weekly Change (%)

Source: Victoria Falls Stock Exchange, 2024

Figure 1: ZSE and VFEX Indicators


Source: Zimbabwe Stock Exchange and Victoria Falls Stock Exchange, 2024

27-Sep-24
04-Oct-24
11-Oct-24
18-Oct-24
25-Oct-24
01-Nov-24
08-Nov-24
15-Nov-24
22-Nov-24
29-Nov-24
06-Dec-24
13-Dec-24
20-Dec-24
27-Dec-24
Indices
ZSE Indices
All Share Index (ZSE)
Top 10 Index
Mining Index

27-Sep-24
04-Oct-24
11-Oct-24
18-Oct-24
25-Oct-24
01-Nov-24
08-Nov-24
15-Nov-24
22-Nov-24
29-Nov-24
06-Dec-24
13-Dec-24
20-Dec-24
27-Dec-24
ZiG Billion
ZSE Market Capitalisation


27-Sep-24
04-Oct-24
11-Oct-24
18-Oct-24
25-Oct-24
01-Nov-24
08-Nov-24
15-Nov-24
22-Nov-24
29-Nov-24
06-Dec-24
13-Dec-24
20-Dec-24
27-Dec-24
US$ Thousand
VFEX Market Turnover

27-Sep-24
04-Oct-24
11-Oct-24
18-Oct-24
25-Oct-24
01-Nov-24
08-Nov-24
15-Nov-24
22-Nov-24
29-Nov-24
06-Dec-24
13-Dec-24
20-Dec-24
27-Dec-24
US$ Billion
VFEX Market Capitalisation

27-Sep-24
04-Oct-24
11-Oct-24
18-Oct-24
25-Oct-24
01-Nov-24
08-Nov-24
15-Nov-24
22-Nov-24
29-Nov-24
06-Dec-24
13-Dec-24
20-Dec-24
27-Dec-24
Indices
VFEX All Share Index


27-Sep-24
04-Oct-24
11-Oct-24
18-Oct-24
25-Oct-24
01-Nov-24
08-Nov-24
15-Nov-24
22-Nov-24
29-Nov-24
06-Dec-24
13-Dec-24
20-Dec-24
27-Dec-24
ZiG Thousands
ZSE Market Turnover
Negotiated
trade
deals
Simbisa
Brands
Limited
shares,
Innscor
Africa
Limited shares.

4. CLEARING AND SETTLEMENT ACTIVITY
Source: Reserve Bank of Zimbabwe, 2024


5. ENERGY PRICES

Energy Prices

6 December 2024
13 December 2024
20 December 2024
27 December 2024
Domestic Energy Prices
US$
US$
US$
US$
Diesel 50/ litre

Petrol Blend E20/ litre

LP Gas / kg


International Energy Prices
(Weekly average)
US$/barrel
US$/barrel
US$/barrel
US$/barrel
Crude Oil Prices

Source: Zimbabwe Energy Regulatory Authority and BBC 2024


6. GOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND GOLD BACKED DIGITAL TOKENS
(GBDT)


Gold PM Fix and Gold Backed Digital Token Prices
Date
Gold PM Fix
GBDT ZiG Price per Mg
GBDT US$ Price per Mg
US$/oz
Buy
Sell
Buy
Sell
24-December-24

27-December-24

Source: London Bullion Market Association and Reserve Bank of Zimbabwe, 2024


PAYMENT STREAM
WEEK ENDING
20 December 2024
WEEK ENDING
27 December 2024
WEEKLY
CHANGE (%)

VALUES

RTGS (ZiG)
35,526,110,851.27
14,944,152,267.15
(57.93)
Of which ZiG
11,665,286,728.24
5,555,560,489.14

Of which US$ transactions
(ZiG Equivalent)
23,860,824,123.03
9,388,591,778.01


POS
2,556,038,473.71
4,404,728,981.00
72.33
ATM
1,721,865,959.30
3,497,020,973.91
103.09
MOBILE BANKING
117,460,954.29
344,171,904.02
193.01
MOBILE MONEY
3,902,703,510.14
3,796,293,962.60
(2.73)
ZIPIT MOBILE
194,698,474.82
184,693,904.80
(5.14)
TOTAL
44,018,878,223.53
27,171,061,993.49
(38.27)

VOLUMES

RTGS
354,721
110,184
(68.94)
Of which ZiG
154,57
51,088

Of which US$
200,143
59,096

POS
1,884,198
2,645,357
40.40
ATM
211,603
399,624
88.86
MOBILE BANKING
252,722
479,120
89.58
MOBILE MONEY
10,816,974
8,756,931
(19.04)
ZIPIT MOBILE
241,555
309,743
28.23
TOTAL
13,761,773
12,700,959
(7.71)

Mosi-oa-Tunya Gold Coin Prices
Gold Coin Price
24-December-24
27-December-24
1.00Oz


US$
2,744.49
2,744.49
ZiG
70,723.31
70,756.52
0.50Oz


US$
1,372.25
1,372.25
ZiG
35,361.66
35,378.26
0.25Oz


US$
686.12
686.12
ZiG
17,680.83
17,689.13
0.10Oz


US$
274.45
274.45
ZiG
7,072.33
7,075.65
Source: Reserve Bank of Zimbabwe, 2024


7. EXTERNAL SECTOR


Exchange Rate Developments (ZiG per Unit of foreign currency)


USD
ZAR
GBP
BWP
EURO
Weekly Average
(16-20 Dec)

24-December

27-December

Weekly Average
(23-27 Dec)

Appr (-)/Depr (+) (%) of the
ZWG

Source: Reserve Bank of Zimbabwe, 2024


International Commodity Price Developments

Platinum
Palladium
Nickel
Lithium

US$/ounce
US$/ounce
US$/tonne
US$/tonne
Weekly Average
(16-20 Dec)

23-December

24-December

27-December

Weekly Average
(23-27 Dec)

Weekly Change (%)

Source: BBC, KITCO and Bloomberg, 2024

Figure 3: Weekly International Commodity Price Developments (15th November -27th December 2024)


Source: BBC, KITCO and Bloomberg, 2024

RESERVE BANK OF ZIMBABWE
JANUARY 2025

15-Nov
18-Nov
21-Nov
24-Nov
27-Nov
30-Nov
03-Dec
06-Dec
09-Dec
12-Dec
15-Dec
18-Dec
21-Dec
24-Dec
27-Dec
US$/oz
Gold

15-Nov
18-Nov
21-Nov
24-Nov
27-Nov
30-Nov
3-Dec
6-Dec
9-Dec
12-Dec
15-Dec
18-Dec
21-Dec
24-Dec
27-Dec
US$/barrel
Crude oil


15-Nov
18-Nov
21-Nov
24-Nov
27-Nov
30-Nov
3-Dec
6-Dec
9-Dec
12-Dec
15-Dec
18-Dec
21-Dec
24-Dec
27-Dec
US$/tonne
Platinum

1 0 020
1 0 050
1 0 080
15-Nov
18-Nov
21-Nov
24-Nov
27-Nov
30-Nov
3-Dec
6-Dec
9-Dec
12-Dec
15-Dec
18-Dec
21-Dec
24-Dec
27-Dec
US$/tonne
Palladium

15-Nov
18-Nov
21-Nov
24-Nov
27-Nov
30-Nov
3-Dec
6-Dec
9-Dec
12-Dec
15-Dec
18-Dec
21-Dec
24-Dec
27-Dec
US$/tonne
Nickel

15-Nov
18-Nov
21-Nov
24-Nov
27-Nov
30-Nov
3-Dec
6-Dec
9-Dec
12-Dec
15-Dec
18-Dec
21-Dec
24-Dec
27-Dec
US$/tonne
Lithium