Vol. 27 No. 41

Week Ending
10th October 2025

Weekly Economic
Highlights
Vol. 27 No. 37
TABLE OF CONTENTS


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

1. OVERVIEW
This report summarises major developments in the monetary and financial sectors of the economy during the
week ending 10th October 2025. It contains updates on domestic money and capital markets, national payment
systems, exchange rates, and global commodity prices.
During the week under review, both local and foreign currency deposits rates remained unchanged at previous
week levels. Local currency lending rates for both individual and corporate clients increased, except for
maximum lending rates for individual clients, which remained unchanged. Foreign currency lending rates for
both individual and corporate clients decreased, during the same week.
During the week ending 10th October 2025, the Zimbabwe Stock Exchange (ZSE) exhibited bearish sentiments
for the second consecutive week, declining by 3.56% to close at 197.85 points, while the Victoria Falls Stock
Exchange (VFEX) traded positively, adding 5.92% to close at 156.10 points.
The total value of transactions processed through the National Payment Systems platforms decreased by
10.94% to ZiG36.97 billion from ZiG41.52 billion in the previous week. The volume of transactions
processed, however, increased by 4.24% from 16.38 million to 17.07 million during the same period.
The Zimbabwe Gold (ZiG) depreciated by 0.14% from an average of ZiG26.65 per US$ recorded in the
previous week, to ZiG26.68 per US$ during the week under review.
During the week under analysis, international commodity prices for gold, platinum, palladium and nickel
surged. Prices for brent crude oil and lithium, however, retreated during the same week.
Gold prices increased on account of safe-haven demand, following the escalating U.S.–China trade tensions
and a weaker U.S. dollar. Platinum prices rose due to recurring supply constraints, especially from South
African mines, coupled with broader precious metals rally which attracted capital into platinum as an
alternative store of value. Palladium prices rose mainly driven by increased demand for the metal amid
growing fears over U.S.–China trade tensions and a weakening U.S dollar. Nickel prices rose on account of
potential supply constraints as Indonesia shortened the validity of mining quotas to one year.
Lithium prices declined underpinned by a surge in global supply which led to a surplus that pushed prices
downward. Brent crude oil prices declined following the cease fire between Israel and Hamas which reduced
fears of supply disruptions in the Middle East.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
19 Sept 2025
26 Sept 2025
03 Oct 2025
10 Oct 2025
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, 2025


Average commercial bank deposit rates (Foreign Currency (US$) (%)
US$ Deposit rates
19 Sept 2025
26 Sept 2025
03 Oct 2025
10 Oct 2025
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, 2025

Commercial bank weighted lending rates (Local Currency (ZiG) (%)
ZiG Lending rates
19 Sept 2025
26 Sept 2025
03 Oct 2025
10 Oct 2025
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


Commercial bank weighted lending rates (Foreign Currency (US$) (%)
US$ Lending rates
19 Sept 2025
26 Sept 2025
03 Oct 2025
10 Oct 2025
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


Commercial banks and building societies mortgage lending rates (%)
Mortgage Lending
rates
19 Sept 2025
26 Sept 2025
03 Oct 2025
10 Oct 2025
ZiG Lending rates


Minimum

Maximum

US$ Lending rates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025

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)
19-Sept-25

26-Sept-25

03-Oct-25

10-Oct-25

Weekly
Change (%)

Source: Zimbabwe Stock Exchange, 2025

VFEX Indicators
Date

All Share Index
Points
Grand Market Capitalisation
(US$ billion)
Market Turnover (US$
million)
Volume of Shares (million)
19-Sept-25

26-Sept-25

03-Oct-25

10-Oct-25

Weekly Change (%)

Source: Victoria Falls Stock Exchange, 2025

Figure 1: ZSE and VFEX Indicators


Source: Zimbabwe Stock Exchange and Victoria Falls Stock Exchange, 2025

04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
15-Aug-25
22-Aug-25
29-Aug-25
05-Sep-25
12-Sep-25
19-Sep-25
26-Sep-25
03-Oct-25
10-Oct-25
ZiG Billion
ZSE Market Capitalisation

04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
15-Aug-25
22-Aug-25
29-Aug-25
05-Sep-25
12-Sep-25
19-Sep-25
26-Sep-25
03-Oct-25
10-Oct-25
Index
VFEX All Share Index

04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
15-Aug-25
22-Aug-25
29-Aug-25
05-Sep-25
12-Sep-25
19-Sep-25
26-Sep-25
03-Oct-25
10-Oct-25
US$ Thousand
VFEX Market Turnover

04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
15-Aug-25
22-Aug-25
29-Aug-25
05-Sep-25
12-Sep-25
19-Sep-25
26-Sep-25
03-Oct-25
10-Oct-25
US$ Billion
VFEX Market Capitalisation


04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
15-Aug-25
22-Aug-25
29-Aug-25
05-Sep-25
12-Sep-25
19-Sep-25
26-Sep-25
03-Oct-25
10-Oct-25
ZiG Thousands
ZSE Market Turnover

04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
15-Aug-25
22-Aug-25
29-Aug-25
05-Sep-25
12-Sep-25
19-Sep-25
26-Sep-25
03-Oct-25
10-Oct-25
Indices
ZSE Indices
All Share Index (ZSE)
Top 10 Index
Mining Index

4. CLEARING AND SETTLEMENT ACTIVITY
Source: Reserve Bank of Zimbabwe, 2025

5. ENERGY PRICES

Energy Prices

19-Sept 2025
26-Sept 2025
03-Oct 2025
10-Oct 2025
Domestic Energy Prices
US$
US$
US$
US$
Diesel 50/ litre

Petrol Blend E5/ 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 2025

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
06-Oct-25

07-Oct-25

08-Oct-25

09-Oct-25

10-Oct-25

Source: London Bullion Market Association and Reserve Bank of Zimbabwe, 2025


PAYMENT STREAM
WEEK ENDING
03 October 2025
WEEK ENDING
10 October 2025
WEEKLY
CHANGE (%)

VALUES

RTGS
32,205,952,868.19
27,462,417,269.86
(14.73)
Of which ZiG
10,490,606,883.59
9,834,113,108.79
(6.26)
Of which US$ transactions
(ZiG Equivalent)
21,715,345,984.60
17,628,304,161.07
(18.82)
POS
2,361,148,415.02
2,336,650,552.30
(1.04)
ATM
2,393,310,473.27
2,061,703,345.83
(13.86)
MOBILE BANKING
375,608,396.31
320,146,459.87
(14.77)
MOBILE MONEY
3,882,870,324.90
4,477,325,588.00
15.31
ZIPIT MOBILE
297,471,046.67
315,973,438.17
6.22
TOTAL
41,516,361,524.35
36,974,216,654.03
(10.94)

VOLUMES

RTGS
244,976
183,999
(24.89)
Of which ZiG
96,381
65,200
(32.35)
Of which US$
148,595
118,799
(20.05)
POS
2,068,979
2,074,863
0.28
ATM
282,447
247,121
(12.51)
MOBILE BANKING
429,727
349,604
(18.65)
MOBILE MONEY
13,070,389
13,921,333
6.51
ZIPIT MOBILE
281,565
294,843
4.72
TOTAL
16,378,083
17,071,763
4.24

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
06-Oct-25
07-Oct-25
08-Oct-25
09-Oct-25
10-Oct-25
1.00Oz


US$

ZiG
108,732.82
110,506.36
111,564.22

113,303.10
112,722.72
0.50Oz


US$

ZiG

0.25Oz


US$

ZiG

0.10Oz


US$

ZiG

Source: Reserve Bank of Zimbabwe, 2025


7. EXTERNAL SECTOR


Exchange Rate Developments (ZiG per Unit of foreign currency)


USD
ZAR
GBP
BWP
EURO
Weekly Average
(29 Sept – 03 Oct)

06-Oct

07-Oct

08-Oct

09-Oct

10-Oct

Weekly Average
(06 Oct – 10 Oct)

26.6842


1.5500

35.7640

1.8799

31.0819
Appr (-)/Depr (+) (%) of the
ZWG

Source: Reserve Bank of Zimbabwe, 2025


International Commodity Prices

Gold
Platinum
Palladium
Nickel
Lithium

US$/oz
US$/ounce
US$/ounce
US$/tonne
US$/tonne
Weekly Average
(29 Sept – 03 Oct)

06-Oct

07-Oct

08-Oct

09-Oct

10-Oct

Weekly Average
(06 Oct – 10 Oct)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2025

Figure 3: Weekly International Commodity Price Developments (03rd October 2025– 10th October 2025)


Source: BBC, KITCO and Bloomberg, 2025

RESERVE BANK OF ZIMBABWE
OCTOBER 2025

4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
15-Aug
22-Aug
29-Aug
5-Sep
12-Sep
19-Sep
26-Sep
3-Oct
10-Oct
US$/oz
Palladium

4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
15-Aug
22-Aug
29-Aug
5-Sep
12-Sep
19-Sep
26-Sep
3-Oct
10-Oct
US$/tonne
Lithium

4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
15-Aug
22-Aug
29-Aug
5-Sep
12-Sep
19-Sep
26-Sep
3-Oct
10-Oct
US$/tonne
Nickel

4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
15-Aug
22-Aug
29-Aug
5-Sep
12-Sep
19-Sep
26-Sep
3-Oct
10-Oct
US$/barrel
Crude oil

04-Jul
11-Jul
18-Jul
25-Jul
01-Aug
08-Aug
15-Aug
22-Aug
29-Aug
05-Sep
12-Sep
19-Sep
26-Sep
03-Oct
10-Oct
US$/oz
Gold

4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
15-Aug
22-Aug
29-Aug
5-Sep
12-Sep
19-Sep
26-Sep
3-Oct
10-Oct
US$/tonne
Platinum