Vol. 28 No. 6

Week Ending
6th February 2026

Weekly Economic
Highlights
TABLE OF CONTENTS


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

1. OVERVIEW
This report provides a summary of the major developments in the monetary and financial sectors of the
economy during the week ending 6th February 2026. It highlights the key trends in domestic money and capital
markets, national payment systems, exchange rates and global commodity prices.
The local and foreign currency deposit rates remained unchanged across all tenors. The local currency lending
rates declined across all client categories. The foreign currency lending rates decreased except for individual
minimum lending rates which increased and the corporate maximum lending rates which remained the same.
The Zimbabwe Stock Exchange (ZSE) recovered from the previous week’s losses, adding 1.31%, to close at
360.71 points during the week under review. The Victoria Falls Stock Exchange (VFEX), however, traded
negatively, losing 1.91% to close at 207.33 points.
The total value of transactions processed through the National Payment Systems platforms decreased by
2.82% from ZiG37.07 billion reported in the previous week to ZiG36.03 billion. The volume of transactions
processed increased by 0.70% from 16.31 million to 16.43 million during the same period under review. The
largest share of transactional values was processed through the Real-Time Gross Settlement (RTGS) system,
accounting for 70.72%, while mobile money accounted for 79.82% of the transaction volumes.
Zimbabwe Gold currency (ZiG) depreciated by 0.22%, from an average of ZiG25.60 per US$1 in the previous
week to ZiG26.66 per US$1, during the week ending 06th February 2026.
International average prices for most selected commodities retreated from previous week levels during the
week under analysis. Gold prices eased as geopolitical tensions subsided, prompting investors to move away
from safe-haven assets toward equities and other growth-oriented investments. Platinum prices also dropped
amid concerns over slower industrial activity and subdued manufacturing performance signalled reduced
short-term demand expectations, contributing to price declines.
Palladium prices declined due to the strengthening US dollar and tighter monetary conditions, which
dampened investor appetite for metals and increased the opportunity cost of holding them. Lithium prices
dropped due to elevated inventories and increased competition among producers, which exerted downward
pressure on the prices. Nickel prices retreated due to concerns that Indonesia, the world’s largest nickel
producer, might not tighten or clearly define its 2026 output quotas increased market expectations of continued
strong supply, which in turn encouraged selling pressure, lowering prices.

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
16-Jan-2026
23-Jan-2026
30-Jan-2026
06-Feb-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
16-Jan-2026
23-Jan-2026
30-Jan-2026
06-Feb-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
16-Jan-2026
23-Jan-2026
30-Jan-2026
06-Feb-2026
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026


Commercial bank weighted lending rates (Foreign Currency (US$) (%)
US$ Lending rates
16-Jan-2026
23-Jan-2026
30-Jan-2026
06-Feb-2026
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2026


Commercial banks and building societies mortgage lending rates (%)
Mortgage Lending
rates
16-Jan-2026
23-Jan-2026
30-Jan-2026
06-Feb-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)
16-Jan-26

23-Jan-26

30-Jan 26

06-Feb 26

Weekly
Change (%)

Source: Zimbabwe Stock Exchange, 2026

VFEX Indicators
Date

All Share Index
Points
Grand Market Capitalisation
(US$ billion)
Market Turnover (US$
million)
Volume of Shares (million)
16-Jan-26

23-Jan-26

30-Jan-26

06-Feb-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
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
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
US$ Thousand
VFEX Market Turnover

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
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
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
ZiG Thousands
ZSE Market Turnover

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

4. ENERGY PRICES

Energy Prices

16-Jan-2026
23-Jan-2026
30-Jan-2026
06-Feb-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

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-Feb-26

03-Feb-26

04-Feb-26

05-Feb-26

06-Feb-26

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


PAYMENT STREAM
WEEK ENDING
30 January 2026
WEEK ENDING
06 February 2026
WEEKLY
CHANGE (%)

VALUES

RTGS
28,699,230,486.86
25,476,867,913.20
(11.23)
Of which ZiG
8,464,849,197.85
8,260,583,601.61
(2.41)
Of which US$ transactions
(ZiG Equivalent)
20,234,381,289.01

17,216,284,311.59

(14.92)
POS
2,065,310,663.25
2,620,938,939.89
26.90
ATM
1,930,732,914.28
2,546,637,669.45
31.90
MOBILE BANKING
367,787,999.21
375,887,363.52
2.20
MOBILE MONEY
3,707,334,368.09
4,698,728,286.30
26.74
ZIPIT MOBILE
300,102,977.26
306,589,212.37
2.16
TOTAL
37,070,499,408.95
36,025,649,384.73
(2.82)

VOLUMES

RTGS
226,183
191,726
(15.23)
Of which ZiG
75,706
64,722
(14.51)
Of which US$
150,477
127,004
(15.60)
POS
1,648,038
2,109,232
27.98
ATM
239,343
303,504
26.81
MOBILE BANKING
397,761
372,637
(6.32)
MOBILE MONEY
13,503,568
13,111,976
(2.90)
ZIPIT MOBILE
298,109
337,377
13.17
TOTAL
16,313,002
16,426,452
0.70

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
02-Feb-2026
03-Feb-2026
04-Feb-2026
05-Feb-2026
06-Feb-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
(26 Jan – 30 Jan)

02-Feb-26

03-Feb-26

04-Feb-26

05-Feb-26

06-Feb-26

Weekly Average
(02 Feb – 06 Feb)

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
(26 Jan – 30 Jan)

02-Feb-26

03-Feb-26

04-Feb-26

05-Feb-26

06-Feb-26

Weekly Average
(02 Feb – 06 Feb)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2026

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


Source: BBC, KITCO and Bloomberg, 2026

RESERVE BANK OF ZIMBABWE
FEBRUARY 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
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
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
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
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
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
US$/oz
Lithium