Vol. 28 No. 10

Week Ending
6th March 2026

Weekly Economic
Highlights
TABLE OF CONTENTS


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

1. OVERVIEW
This report highlights key developments in the domestic monetary and financial sectors during the week
ending 6 March 2026. It incorporates updates on the domestic money and capital markets, national payment
systems, exchange rates, and international commodity prices.
Domestic money market developments were mixed across the different tenors. The local currency deposits
rates remained the same in most tenors, save for minimum rates for 6months, 3months and 1month which
increased, while the maximum rates for 1month tenor decreased. The foreign currency deposits rates remained
unchanged across all tenors. On the lending side, local currency lending rates increased for both individual
and corporate clients, except for maximum rates for corporate borrowers, which declined. Foreign currency
lending rate increased across most clients’ segments, except for the minimum rates for corporate clients, which
declined.
Capital markets exhibited bullish sentiments during the week ending 6 March 2026. The Zimbabwe Stock
Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) both recorded gains of 0.63% and 1.86%
closing the week at 361.36 points and 228.22 points, respectively.
Activity on the National Payment Systems improved over the same period. The total value of transactions
increased by 8.02% from ZiG39.65 billion reported in the previous week to ZiG42.83 billion. However, the
volume of transactions processed decreased by 2.54% from 19.15 million to 18.66 million during the week
under review. The largest share of transactional values was processed through the Real-Time Gross Settlement
(RTGS) system, accounting for 73.60%, while mobile money accounted for 81.49% of the transaction
volumes.
The Zimbabwe Gold (ZiG) currency depreciated by 0.26% during the week ending 6 March 2026, weakening
from an average of ZiG25.69 per US$1 to ZiG25.76 per US$1.
On the global front, the international commodity markets recorded mixed movements. Average prices for
gold, platinum, palladium, copper, and nickel decreased, while Brent crude oil and lithium increased. Lithium
prices increased significantly following Zimbabwe’s suspension of lithium concentrate and raw mineral
exports. Brent crude oil prices increased due to supply concerns after shipping disruptions and heightened
security risks in the Strait of Hormuz, a key chokepoint where 20 percent of world oil and gas pass through.
Gold prices, however, declined due to the strengthening of the U.S. dollar. Platinum and Palladium prices
decreased, on account of a stronger US dollar, higher U.S. Treasury yields, and fading expectations of
near-term interest-rate cuts, which made interest-bearing assets more attractive than non-yielding metals.
Nickel prices decreased due to subdued demand.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
13-Feb-2026
20-Feb-2026
27-Feb-2026
06-Mar-2026
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, 2026


Average commercial bank deposit rates (Foreign Currency (US$) (%)
US$ Deposit rates
13-Feb-2026
20-Feb-2026
27-Feb-2026
06-Mar-2026
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, 2026

Commercial bank weighted lending rates (Local Currency (ZiG) (%)
ZiG Lending rates
13-Feb-2026
20-Feb-2026
27-Feb-2026
06-Mar-2026
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026

Commercial bank weighted lending rates (Foreign Currency (US$) (%)
US$ Lending rates
13-Feb-2026
20-Feb-2026
27-Feb-2026
06-Mar-2026
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026

Commercial banks and building societies mortgage lending rates (%)
Mortgage Lending
rates
13-Feb-2026
20-Feb-2026
27-Feb-2026
06-Mar-2026
ZiG Lending rates


Minimum

Maximum

US$ Lending rates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026


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)
13-Feb 26

20-Feb 26

27-Feb 26

06-Mar 26

Weekly
Change

Source: Zimbabwe Stock Exchange, 2026

VFEX Indicators
Date

All Share Index
Points
Grand Market
Capitalisation
Market Turnover
(US$ million)
Volume of Shares
(million)
13-Feb-26

20-Feb-26

27-Feb 26

06- Mar 26

Weekly Change (%)

Source: Victoria Falls Stock Exchange, 2026

Figure 1: ZSE and VFEX Indicators


Source: Zimbabwe Stock Exchange and Victoria Falls Stock Exchange, 2026


1.8
1.9


17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
US$ Billion
VFEX Market Capitalisation

17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
Index
VFEX All Share Index

17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
ZiG Billion
ZSE Market Capitalisation

17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
Indices
ZSE Indices
All Share Index (ZSE)
Top 10 Index
Mining Index


17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
ZiG Thousands
ZSE Market Turnover
Notable trade deals: A combined total
of
60.54
million
Econet
Wireless
Zimbabwe Limited shares at an average
price ZiG903.63 cents/share.
Notable
trade
deals:
A
combined
53.03
million Econet Wireless Zimbabwe Limited
shares at
an average
price of ZiG908.67
cents/share and 2.51 million NMBZ Holdings
Limited shares at ZiG500.05 cents/share.

17-Oct-25
24-Oct-25
31-Oct-25
07-Nov-25
14-Nov-25
21-Nov-25
28-Nov-25
05-Dec-25
12-Dec-25
19-Dec-25
26-Dec-25
02-Jan-26
09-Jan-26
16-Jan-26
23-Jan-26
30-Jan-26
06-Feb-26
13-Feb-26
20-Feb-26
27-Feb-26
06-Mar-26
US$ Thousand
VFEX Market Turnover
Notable trade deals: Padenga Holdings
Limited,
where
6.03
million
shares
exchanged hands at US$0.72 per share

3. CLEARING AND SETTLEMENT ACTIVITY
Source: Reserve Bank of Zimbabwe, 2026

4. ENERGY PRICES

Energy Prices

13-Feb-2026
20-Feb-2026
27-Feb-2026
06-Mar-2026
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
(US$/barrel)

Source: Zimbabwe Energy Regulatory Authority and BBC 2026

5. 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
02-Mar-26

03-Mar-26

04-Mar-26

05-Mar-26

06-Mar-26

Source: London Bullion Market Association and Reserve Bank of Zimbabwe, 2026


PAYMENT STREAM
WEEK ENDING
27 February 2026
WEEK ENDING
06 March 2026
WEEKLY
CHANGE (%)

VALUES

RTGS
30,623,528,333.04
31,525,462,765.22
2.95
Of which ZiG
9,999,770,527.38
9,902,404,630.26
(0.97)
Of which US$ transactions
(ZiG Equivalent)
20,623,757,805.66
21,623,058,134.96
4.85
POS
2,131,668,117.19
2,635,307,007.29
23.63
ATM
1,801,872,979.62
2,852,789,439.94
58.32
MOBILE BANKING
360,497,378.05
427,618,080.35
18.62
MOBILE MONEY
4,416,416,011.75
5,046,040,239.91
14.26
ZIPIT MOBILE
315,697,427.16
343,440,921.60
8.79
TOTAL
39,649,680,246.82
42,830,658,454.30
8.02

VOLUMES

RTGS
322,654
217,978
(32.44)
Of which ZiG
122,575
76,200
(37.83)
Of which US$
200,079
141,778
(29.14)
POS
1,749,550
2,117,454
21.03
ATM
241,775
340,347
40.77
MOBILE BANKING
372,024
447,678
20.34
MOBILE MONEY
16,155,777
15,206,140
(5.88)
ZIPIT MOBILE
305,641
330,813
8.24
TOTAL
19,147,421
18,660,410
(2.54)

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
02-Mar-2026
03-Mar-2026
04-Mar-2026
05-Mar-2026
06-Mar-2026
1.00Oz


US$

ZiG

0.50Oz


US$

ZiG

0.25Oz


US$

ZiG

0.10Oz


US$

ZiG

Source: Reserve Bank of Zimbabwe, 2026


6. EXTERNAL SECTOR


Exchange Rate Developments (ZiG per Unit of Foreign Currency)


USD
ZAR
GBP
BWP
EURO
Weekly Average
(23 Feb – 27 Feb)

02-Mar-26

03-Mar-26

04-Mar-26

05-Mar-26

06-Mar-26

Weekly Average
(02 Mar – 06 Mar)

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

Source: Reserve Bank of Zimbabwe, 2026


International Commodity Prices

Gold
Platinum
Palladium
Nickel
Lithium

US$/oz
US$/ounce
US$/ounce
US$/tonne
US$/tonne
Weekly Average
(23 Feb – 27 Feb)

02-Mar-26

03-Mar-26

04-Mar-26

05-Mar-26

06-Mar-26

Weekly Average
(02 Mar – 06 Mar)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2026

Figure 3: Average Weekly International Commodity Price Developments (31st October 2025– 06th March 2026)


Source: BBC, KITCO and Bloomberg, 2026

RESERVE BANK OF ZIMBABWE
MARCH 2026

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
US$/oz
Gold

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
US$/oz
Crude Oil

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
US$/oz
Platinum

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
US$/oz
Palladium

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
US$/oz
Nickel

31-Oct
7-Nov
14-Nov
21-Nov
28-Nov
5-Dec
12-Dec
19-Dec
26-Dec
2-Jan
9-Jan
16-Jan
23-Jan
30-Jan
6-Feb
13-Feb
20-Feb
27-Feb
6-Mar
US$/oz
Lithium