Vol. 28 No. 11

Week Ending
13th March 2026

Weekly Economic
Highlights
TABLE OF CONTENTS


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

1. OVERVIEW
This report provides an overview of key developments in the domestic monetary and financial sectors of the
economy for the week ending 13th March 2026. It includes updates on the money and capital markets, national
payment systems, exchange rates and international commodity prices.
Domestic money market developments exhibited mixed variations during the week ending 13th March 2026.
The local currency deposits rates remained unchanged across most tenors except for the 1month minimum,
3months and 6months rates which declined. Savings rates and 1month maximum rates increased. The foreign
currency deposits rates remained unchanged across most maturities except for savings rates which increased.
Local currency lending rates for individual clients remained the same, while corporate clients lending rates
increased. The foreign currency lending rates increased for individual minimum rates and corporate maximum
rates, while individual maximum rates and corporate minimum rates declined.
Capital markets exhibited mixed sentiments during the week ending 13th March 2026. The Zimbabwe Stock
Exchange (ZSE) traded negatively, losing 2.68% to close at 351.69 points, while the Victoria Falls Stock
Exchange (VFEX) exhibited bullish sentiments, adding 4.27% to close at 237.96 points.
The total value of transactions processed through the National Payment Systems platforms decreased by
4.97% from ZiG42.83 billion recorded in the previous week to ZiG40.7 billion. The volume of transactions
processed increased by 12.57% from 18.66 million to 21.01 million during the same period. The largest share
of transactional values was processed through the Real-Time Gross Settlement (RTGS) system, accounting
for 73.09%, while mobile money accounted for 87.24% of the transaction volumes.
On the interbank foreign currency exchange market, the Zimbabwe Gold (ZiG) currency appreciated by
0.87%, to an average of ZiG25.53 per US$1, from ZiG25.76 per US$1.
The international weekly average prices for gold, platinum and palladium decreased, while nickel and lithium
increased during the week ending 13 March 2026. Precious metals prices, particularly gold, platinum and
palladium, declined as a stronger US dollar and higher Treasury yields raised the opportunity cost of holding
non-yielding assets, putting downward pressure on prices.
Brent crude oil prices, however, continued an upward trajectory due to disruptions in production and
distribution in major oil producing countries, reducing global supply. Lithium prices reached records high
following Zimbabwe’s export moratorium on raw minerals, which effectively capped global supply. Nickel
prices increased due to the continued expansion in the global battery supply chain and long-term energy
transition investments supported positive demand expectations.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
20-Feb-2026
27-Feb-2026
06-Mar-2026
13-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
20-Feb-2026
27-Feb-2026
06-Mar-2026
13-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
20-Feb-2026
27-Feb-2026
06-Mar-2026
13-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
20-Feb-2026
27-Feb-2026
06-Mar-2026
13-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
20-Feb-2026
27-Feb-2026
06-Mar-2026
13-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)
20-Feb 26

27-Feb 26

06-Mar 26

13-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)
20-Feb-26

27-Feb 26

06- Mar 26

13-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


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
13-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
13-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
13-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
13-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
13-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
13-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

20-Feb-2026
27-Feb-2026
06-Mar-2026
13-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
09-Mar-26

10-Mar-26

11-Mar-26

12-Mar-26

13-Mar-26

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


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

VALUES

RTGS
31,525,462,765.22
29,749,384,611.93
(5.63)
Of which ZiG
9,902,404,630.26
9,838,779,791.50
(0.64)
Of which US$ transactions
(ZiG Equivalent)
21,623,058,134.96
19,910,604,820.43
(7.92)
POS
2,635,307,007.29
2,152,627,465.19
(18.32)
ATM
2,852,789,439.94
1,900,926,554.53
(33.37)
MOBILE BANKING
427,618,080.35
306,645,697.01
(28.29)
MOBILE MONEY
5,046,040,239.91
6,288,005,326.93
24.61
ZIPIT MOBILE
343,440,921.60
303,807,410.44
(11.54)
TOTAL
42,830,658,454.30
40,701,397,066.04
(4.97)

VOLUMES

RTGS
217,978
178,027
(18.33)
Of which ZiG
76,200
68,627
(9.94)
Of which US$
141,778
109,400
(22.84)
POS
2,117,454
1,697,884
(19.81)
ATM
340,347
219,340
(35.55)
MOBILE BANKING
447,678
311,408
(30.44)
MOBILE MONEY
15,206,140
18,326,321
20.52
ZIPIT MOBILE
330,813
273,955
(17.19)
TOTAL
18,660,410
21,006,935
12.57

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
09-Mar-2026
10-Mar-2026
11-Mar-2026
12-Mar-2026
13-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
(02 Mar – 06 Mar)

09-Mar-26

10-Mar-26

11-Mar-26

12-Mar-26

13-Mar-26

Weekly Average
(09 Mar – 13 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
(02 Mar – 06 Mar)

09-Mar-26

10-Mar-26

11-Mar-26

12-Mar-26

13-Mar-26

Weekly Average
(09 Mar – 13 Mar)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2026

Figure 3: Average Weekly International Commodity Price Developments (31st October 2025– 13th 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
13-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
13-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
13-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
13-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
13-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
13-Mar
US$/oz
Lithium