Vol. 27 No. 26


Week Ending
27th June 2025
Weekly Economic
Highlights
TABLE OF CONTENTS


GOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND
7.
8.

1. OVERVIEW
This report provides a brief outline of key developments in the domestic monetary and financial sectors of the
economy for the week ending 27 June 2025. It entails updates on the money and capital markets, national
payment systems, exchange rates and international commodity prices.
The local and foreign currency deposit rates for all tenors remained unchanged, save for 3 months tenor
maximum foreign currency rates which declined and the 6 months tenor foreign currency rates which
increased. During the week under review, the minimum and maximum local currency lending rates for
individual clients decreased whereas for the corporate clients it increased compared to the previous week. The
minimum and maximum foreign currency lending rates for individual clients increased while for corporate
clients the minimum rate declined.
The Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) traded positively during
the week under review. As a result, both the ZSE and VFEX All-Share indices gained 1.55% and 0.74 % to
close at 196.05 points and 106.92 points, respectively. The VFEX market turnover volume and value increased
by 178.09% and 350% respectively, due to trade deals in Innscor Africa Limited, where a combined 7.18
million shares exchanged hands at USD0.47 per share.
During the week ending 27 June 2025, the total value of transactions processed through the National Payment
Systems platforms increased by 14.06% week on week, reaching ZiG44.51 billion. The growth was primarily
driven by increases in transaction values of mobile banking, ATM system and the Real Time Gross Settlement
(RTGS) system.
The Zimbabwe Gold (ZiG) average exchange rate appreciated by 0.10%, from an average of ZiG26.99 per
US$1 recorded in the previous week, to ZiG26.96 per US$1 during the week ending 27th June 2025.
International average commodity prices for gold and lithium retreated, while those for platinum, palladium
and nickel gained. Gold prices declined as tensions in the Middle East eased, calming concerns over a potential
wider regional conflict and reducing the safe-haven demand for gold. Lithium prices also dropped,
predominantly due to increase in supply from China.
Palladium prices surged supported by a softer U.S. dollar, supply concerns, and heightened investor demand
for precious metals, as a safeguard against economic instability. The increase for platinum prices was due to
limited availability of the metal in key markets such as London and Zurich. Nickel prices rose amid mounting
anticipation that the U.S. Federal Reserve might begin lowering interest rates later in the year.
As of the 79th day of the 2025 tobacco marketing season, a total of 321.41 million kilograms were sold, a
47.01% rise from 218.63 million kilograms sold during the same period in 2024. The value of sales rose by
43.18% from US$0.75 billion reported during the same period in 2024, to US$1.08 billion in the reporting
period. The golden leaf’s average price decreased to US$3.35 per kg from US$3.44 per kg recorded during
the corresponding period in 2024.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
06 June 2025
13 June 2025
20 June 2025
27 June 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
06 June 2025
13 June 2025
20 June 2025
27 June 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
06 June 2025
13 June 2025
20 June 2025
27 June 2025
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


Commercial bank weighted lending rates (Foreign Currency (US$) (%)
US$ Lending rates
06 June 2025
13 June 2025
20 June 2025
27 June 2025
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


Commercial banks and building societies mortgage lending rates (%)
Mortgage Lending rates
06 June 2025
13 June 2025
20 June 2025
27 June 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)
06-June-25

13-June-25

20-June-25

27-June-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)
06-Jun-25

13-Jun-25

20-Jun-25

27-Jun-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


07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
ZiG Thousands
ZSE Market Turnover
Notable trade deals: 97.69 million
Econet Wireless Zimbabwe Limited
shares,3.11 million OK Zimbabwe
Limited shares, 3.06 million shares
exchanged
hands
at
ZiG297.45
cents/share,ZiG35.90cents/share
and
ZiG12.53
cents/share,
respectively

07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
Indices
ZSE Indices
All Share Index (ZSE)
Top 10 Index
Mining Index

07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
ZiG Billion
ZSE Market Capitalisation

07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
Index
VFEX All Share Index

07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
US$ Thousand
VFEX Market Turnover

07-Mar-25
14-Mar-25
21-Mar-25
28-Mar-25
04-Apr-25
11-Apr-25
18-Apr-25
25-Apr-25
02-May-25
09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
US$ Billion
VFEX Market Capitalisation

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

5. ENERGY PRICES

Energy Prices

06 June 2025
13 June 2025
20 June 2025
27 June 2025
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 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
23-Jun-25

24-Jun-25

25-Jun-25

26-Jun-25

27-Jun-25

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


PAYMENT STREAM
WEEK ENDING
20 June 2025
WEEK ENDING
27 June 2025
WEEKLY
CHANGE (%)

VALUES

RTGS
31,149,624,609.71
36,291,562,659.45
16.51
Of which ZiG
11,047,344,462.49
11,563,310,982.30
4.67
Of which US$ transactions
(ZiG Equivalent)
20,102,280,147.22

24,728,251,677.15
23.01
POS
2,525,331,629.62
2,486,015,262.36
(1.56)
ATM
1,671,264,767.21
2,120,471,350.12
26.88
MOBILE BANKING
102,728,370.10
142,860,327.90
39.07
MOBILE MONEY
3,304,491,400.11
3,197,577,761.94
(3.24)
ZIPIT MOBILE
268,273,074.31
270,382,244.85
0.79
TOTAL
39,021,713,851.05
44,508,869,606.61
14.06

VOLUMES

RTGS
174,047
314,474
80.68
Of which ZiG
69,066
137,439
99.00
Of which US$
104,981
177,035
68.64
POS
1,692,948
2,027,289
19.75
ATM
215,086
278,359
29.42
MOBILE BANKING
192,191
268,535
39.72
MOBILE MONEY
11,000,464
11,705,862
6.41
ZIPIT MOBILE
251,556
274,793
9.24
TOTAL
13,526,292
14,869,312
9.93

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
23-June-25
24-June-25
25-June-25
26-June-25
27-June-25
1.00Oz


US$

ZiG

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
(16 - 20 June)

23-June

24-June

25-June

26-June

27-June

Weekly Average
(23 – 27 June)

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
(16 – 20 June)

23-June

24-June

25-June

26-June

27-June

Weekly Average
(23 – 27 June)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2025

Figure 3: Weekly International Commodity Price Developments (11th April 2025– 27th June 2025)


Source: BBC, KITCO and Bloomberg, 2025


11-Apr
18-Apr
25-Apr
02-May
09-May
16-May
23-May
30-May
06-Jun
13-Jun
20-Jun
27-Jun
US$/oz
Gold

11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
US$/barrel
Crude oil


11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
US$/tonne
Platinum

11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
US$/tonne
Nickel

11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
US$/tonne
Lithium


11-Apr
18-Apr
25-Apr
2-May
9-May
16-May
23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
US$/tonne
Palladium

8. TOBACCO SALES

Weekly Cumulative Tobacco Sales: Day 79 (27th June 2025)

Variance (%)
Cumulative Quantity Sold (Kgs)
321,407,880
218,632,317
47.01
Average Price (US$/kg)
3.35
3.44
(2.62)
Cumulative value (US$)
1,077,811,378
752,766,485
43.18
Source: Tobacco Industry and Marketing Board (TIMB), 2025


RESERVE BANK OF ZIMBABWE
JUNE 2025