i


JANUARY 2023

TABLE OF CONTENTS


December

January

Month-on- Month
Change (%)

Reserve Money2 (M0) (ZW$ millions)
104,043.82
122,997.66
18.22
Money Supply2 (M3) (ZW$ millions)
2,338,226.98
2,697,360.47
12.89
Annual Inflation1 (%)

105.50
101.5
-4.0a
Monthly Inflation1 (%)
1.30
0.7
-0.6a

National Payment System Transactions2
(ZW$ billions)

4,990.33
4,002.95
-19.79
Nominal Lending Rate2
(% per annum)
100.00-290.00
100.00-240.00

Sources:
1. Zimbabwe National Statistics Agency (ZIMSTAT)
2. Reserve Bank of Zimbabwe (RBZ)
a- Percentage point.
SELECTED ECONOMIC INDICATORS

OVERVIEW
The domestic economy was characterised by
relative stability in the month of January 2023,
with monthly inflation falling from 1.3% in
December 2022 to 0.7% in January 2023.
Annual headline inflation also declined from
105.5% in December 2023 to 101.5% in
January 2023.

On the monetary front, valuation effects on
dollar deposits, remained the biggest driver of
domestic broad money growth. Month-onmonth, broad money increased by 15.36% in
January 2023, compared to 12.89% recorded in
December 2022.

A relatively weak US dollar and global
expectations for the Fed Res to progressively
soften its monetary policy stance influenced
international commodity price developments
during the month under review. Prices of gold,
platinum, copper and crude oil firmed, while
nickel and palladium prices registered declines.


The country’s exports declined by 32% to
US$428.9 million in the reporting month. This
was largely attributable to the fall in tobacco
exports on account of seasonality. In addition,
supply side constraints also affected gold and
PGMs exports, during the month of January
2023.

Similarly, merchandise imports declined by
5.3% during the month under review, compared
to December 2022. This was driven by the fall
in imports of petroleum fuels. The country’s
monthly net external trade position widened
from a deficit of US$97.3 million in December
2022, to a deficit of US$170.8 million in
January 2023.

The general slowdown in economic activities
which characterised the month of January saw
the country’s National Payment Systems (NPS)
process transactions valued at ZW$4.0 trillion,
down from ZW$4.99 trillion in the previous
month.

INTERNATIONAL COMMODITY PRICE
DEVELOPMENTS

International monthly average prices for gold,
platinum, copper, and crude oil firmed, while
those for palladium and nickel retreated in
January
2023.
Commodity
market
developments were largely influenced by a
weaker U.S dollar, amid growing expectations
of less aggressive interest rate hikes by the US
Federal Reserve Bank.

Precious Metals

Gold
Gold prices increased by 5.7% to US$1,898.95
per ounce in January 2023, from US$1,795.97
per ounce recorded in the previous month.
Prices rose as the US dollar retreated, after U.S.
economic data cemented expectations of a lesshawkish US Federal Reserve Bank monetary
policy stance.

Platinum
Platinum prices also extended gains by 4.3%,
from a monthly average of US$1,011.50 per
ounce in the preceding month to US$1,055.26
per ounce, during the month under analysis.
The increase was largely on account of
prospects of a rise in investment demand as
well as the picking industrial demand in China.

Palladium
During the month under review, palladium
prices declined by 4.68%, from US$1,820.88
per ounce recorded in December 2022 to
US$1,735.71 per ounce in January 2023. Prices
declined on fears of low demand induced by a
global economic recession, as well as
disruptions to global operations in the semiconductor industry. Figure 1 shows precious
metal price developments for the period from
February 2022 to January 2023.
Figure 1: Precious Metal Prices (US$/oz.)
Source: Bloomberg, 2022


Base Metals

Copper

The reporting month saw copper prices rise by
7.4%, from US$8,425.2 per tonne in the
previous month to US$9,052.29 per tonne.
Prices rose to record highs underpinned by a
weaker US dollar and prospects of an increase
in demand in China, the world’s top metals
consumer, following the re-opening of its
economy.

Nickel
Nickel prices tumbled on anticipation of easing
supply
tightness,
amid
expectations
of
increased supply of nickel plate from

Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
US$/oz.
Gold
Palladium
Platinum

Tsingshan Holding Group, a giant Chinese
nickel producer. This development outweighed
the support from prospects of demand recovery
in China. Prices declined by 1.1%, from a
monthly average of US$28,681.85 per tonne in
the prior month to US$28,354.14 per tonne,
during the month under review. Figure 2 shows
the developments in base metal prices for the
period from February 2022 to January 2023.

Figure 2: Base Metal Prices (US$/ton)
Source: Bloomberg, 2022

Brent Crude Oil
Brent Crude oil prices rebounded on account of
demand recovery in top importer, China,
following the relaxation of strict Covid-19
pandemic restrictions. These developments
outweighed concerns about the potential
negative impact of a global economic recession
on the demand of the commodity. Prices
increased by 3.3%, from US$81.54 per barrel
in December 2022 to US$84.24 per barrel in
January 2023.


Figure 3: Crude Oil Prices (US$/barrel)

Source: Bloomberg, 2022

MERCHANDISE
TRADE
DEVELOPMENTS

Total merchandise trade for the month of
January 2023 amounted to US$1,028.7 million,
24.6% lower than the outturn of US$1,363.9
million, recorded in the previous month. The
slowdown was underpinned by marked
declines in both merchandise imports and
exports. Compared to the corresponding month
in 2022, total merchandise trade in the
reporting month was lower by 2.6%.

Figure 4 shows monthly developments in the
country’s merchandise trade for 2022 and
2023.


Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Nickel US$/ton
Copper US$/ton
Copper
Nickel (RHS)

Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
US$/barrel

Figure 4: Merchandise Trade (US$ m)

Source: ZIMSTAT, 2022

Merchandise Exports

During the month under review, the country’s
exports stood at US$428.9 million, down from
US$633.3 million recorded in December 2022.
The significant drop was largely attributable to
the decrease in export earnings for gold,
tobacco and PGMs on account of tapered global
prices, particularly for metals.
The slump in gold exports during the month
under
review
was
also
attributable
to
production disruptions due to waterlogging in
mine pits, particularly for the small-scale
miners.
The country’s export earnings for the reporting
month were 21.1% lower than in the
corresponding month in 2022.
Table 1 shows developments in the country’s
exports for the months of December 2022 and
January 2023.

Table 1: Exports Classified by Harmonized
Commodity Description and Code System

Dec-22
(US$m)
Jan-23
(US$m)
Dec-Jan
Changes
(%)
Share of
Exports
(%)
Jan’ 23
Total
Exports

Of Which:


Gold

PGMs

Tobacco (Inc.
cigarettes)

Industrial
diamonds

Mineral
substances

Ferrochromi
um

Coal

Chromium
ores
&
concentrates

Black tea

Cane Sugar

Source: ZIMSTAT & RBZ Calculations, 2022
*PGMs Include Nickel mattes, nickel ores &
concentrates and platinum

The country’s exports for the month of January
2023 were predominantly destined for the
SADC region, with South Africa absorbing
42.6% of the total. Other notable export
destinations
included
the
United
Arab
Emirates, 29.9%; China, 9.2%; Belgium, 4.8%;
and Mozambique, 3.7%. Figure 5 shows the
country’s major export markets, during the
month under analysis.


Figure 5: Top Ten Merchandise Export
Destinations (% Share)
Source: ZIMSTAT & RBZ Calculations, 2022

Merchandise Imports
The country’s import bill for the month of
January 2023 amounted to US$599.7 million,
representing a 5.3% decrease from US$633.5
million recorded in the preceding month.
Similarly, imports in the month under review
were 17.9% lower than in the comparable
month in 2022, as shown in Figure 6.


Figure 6: Merchandise Imports classified by
HS Codes (US$ m)
Source: ZIMSTAT & RBZ Computations, 2022

During the month under review, diesel,
unleaded petrol and electricity constituted the
bulk of the country’s imports, accounting for
8.7%, 5.3% and 4.3% of the total, respectively.
Electricity imports rose as the country imported
energy from the region to cover the shortfall
caused by power generation disruptions at the
country’s thermal power station in Hwange.
Table 2 shows major commodity imports for
the months of December 2022 and January
2023, respectively.


South Africa
United Arab Emirates
China
Belgium
Mozambique
Zambia
Netherlands
Indonesia
Turkey
Viet Nam

Table 2: Imports Classified by Harmonised
Commodity Description and Code System

Dec-22
(US$m)
Jan-23
(US$m)
Dec-Jan
Changes
(%)
Share
of Total
Imports
(%)
Total
Imports

Of which


Diesel

Unleaded
petrol

Electricity

Fertilizer
Chemicals

Crude
soya
bean oil

Wheat

Rice

Maize
(Excluding
Seed)

LP Gas

Machinery

Source: ZIMSTAT & RBZ Calculations, 2022
The country continued to source most of its
non-fuel imports from South Africa and China,
while fuel came from Singapore. Imports from
South Africa accounted for 36.0%, China 5.3%,
Singapore 13.7%, and the balance from other
trading partners, as shown in Figure 7.


Figure 7: Top Ten Merchandise Import
Sources (% Share)

Source: ZIMSTAT & RBZ Calculations, 2022

Merchandise Trade Balance
The afore-mentioned trade developments
resulted in the widening of the country’s
monthly net external trade position, from a
deficit of US$97.3 million in December 2022
to a deficit of US$170.8 million in January
2023. Figure 8 shows the country’s trade
balance for the months of December 2022 and
January 2023.

Figure 8: Merchandise Trade Balance
(US$ m)
Source: ZIMSTAT & RBZ Computations, 2022

South...
China
Singapore
Mauritius
Zambia
Mozambi...
India
Unspecified
Germany
Hong Kong

Dec-22
Jan-23
Exports
Imports
Trade Balance

On a year-on-year basis, the country’s trade
position worsened from a deficit of US$89.6
million in the corresponding month in 2022 to
US$97.3 million, during the month under
review.

MONETARY DEVELOPMENTS1

Broad money (M3) stock amounted to
ZW$2,697.36
billion
in
January
2023,
compared to ZW$2,338.23 billion recorded in
December 2022.
The money stock was composed of foreign
currency deposits, 60.30%; local currency
deposits, 39.52%; and currency in circulation,
0.18%. Figure 9 shows the composition of
money supply.

Figure 9: Composition of Money Supply
Source: Reserve Bank of Zimbabwe, 2022

Month-on-month, broad money increased by
15.36% in January 2023, compared to 12.89%
recorded in December 2022. The growth
largely reflected increases of ZW$299.00
billion and ZW$59.61 billion in foreign

1All monetary numbers valued in ZW$ since the
adoption of an interbank market determined exchange
rate in February 2019.
currency accounts (FCAs) and local currency
deposits, respectively. Growth in foreign
currency accounts (FCAs) deposits partly
reflected revaluation element due to exchange
rate movement.
During the month under review, domestic
claims increased by 15.51%, compared to
13.94% recorded in the previous month. The
growth in domestic claims was due to an
increase of ZW$246.63 billion in credit to the
private sector.
On an annual basis, broad money registered an
increase of 473.37%, up from 391.88% in
December
2022.
The
foreign
currency
component of broad money increased by
722.82%, while the local currency component
increased by 292.58%.
The growth in foreign currency deposits, from
ZW$197.68 billion in January 2022 to
ZW$1,626.59 billion in January 2023, was
largely attributable to valuation changes owing
to exchange rate movements. The official
exchange rate depreciated by 590.09%, from
ZW$115.42 per US$1 to ZW$796.52 per
US$1, over the period January 2022 to January
2023, thus contributing to the increase in the
local currency equivalent of the FCA deposits.
The annual growth in broad money was mainly
driven by increases of ZW$1,091.25 billion
(447.61%) in credit to the private sector, and
ZW$387.35 billion (645.64%) in net claims on
Government. Net claims on Government,
however, includes the accounting treatment of
the drawdowns on the Special Drawing Rights
Local
Currency
Transferabl
e deposits
28.77%
Foreign
Currency
Deposits
60.30%
Time
Deposits
10.20%
Currency in
Circulation
0.18%
NCDs
0.56%

(SDRs), which does not constitute actual
lending to Government.
Credit to the private sector was mainly
channeled
towards
the
agriculture
and
household sectors, which received 23.03% and
22.35% of the total credit, respectively. The
manufacturing and distribution sectors received
12.77% and 11.88% of the credit, respectively.
Private sector credit shares for the rest of the
economic sectors are shown in Figure 10.

Figure 10: Distribution of Private Sector
Credit


Source: Reserve Bank of Zimbabwe, 2022

Credit to the private sector was largely utilized
for recurrent expenditures, 31.92%; inventory
build-up,
30.73%;
and
fixed
capital
investments, 17.33%.


STOCK MARKET DEVELOPMENTS

Zimbabwe Stock Exchange

The Zimbabwe Stock Exchange (ZSE) started
the year 2023 on a positive trajectory, despite it
being a season where most investors will be reorganizing their portfolios after profit taking
during the festive season.

In line with the positive trading, the Medium
Cap, All Share, Top15, Top 10 and Small Cap
Indices added 31.54%, 17.03%, 15.55%,
12.29%, and 10.23% to close at 48 200.90
points, 22 813.24 points, 15 526.17 points, 13
824.24 and 498 286.56 points, respectively.
The mining index also added 0.04% to close the
month at 25,496.86 points, compared to
25,487.77 points recorded in December 2022.
Figure 11: ZSE All Share, Top 10 and
Mining Indices
Source: Zimbabwe Stock Exchange, 2022
Households
22.35%
Agriculture
23.03%
Mining
9.56%
Manufacturing
12.77%
Distribution
11.88%
Construction
1.70%
Transport &
Communicat
ions
2.12%
Services
10.80%
Financial Org.
& Investments
5.75%
Other


31-Jan-22
28-Feb-22
31-Mar-22
30-Apr-22
31-May-22
30-Jun-22
31-Jul-22
31-Aug-22
30-Sep-22
31-Oct-22
30-Nov-22
31-Dec-22
31-Jan-23
All Share Index
Top 10 Index
Mining Index

However, the cumulative volume and value of
shares traded declined by 78.26% and 58.07%
to 102.79 million and ZW$11.64 billion, from
472.93
million
and
ZW$27.75
billion,
respectively, recorded in the prior month.

The proportion of foreign purchases to the
value of shares traded improved to 7.13%,
compared to 0.76% recorded in December
2022. An improvement in the foreign position,
from -ZW$21.62 billion in December
2022 to -ZW$2.80 billion in January 2023 was
also realised.

Figure 12: ZSE Monthly Volumes and Values
Traded

Source: Zimbabwe Stock Exchange, 2022

Owing to the bullish sentiments exhibited on
the local bourse, in January 2023, the ZSE
added ZW$415.17 billion, or 20.30% worth of
capitalization to close at ZW$2 460.04 billion.
On a year-on-year basis, ZSE capitalization
grew by ZW$984.82 billion, or 66.74%, from
ZW$1 475.22 billion recorded in January 2022.
ZSE Performance Against Inflation

High inflation is normally associated with
increased stock market activities, as investors
shift from low real returns on money market
investments, and hedge in stock market
portfolios. However, the introduction of gold
coins in July 2022 saw ZSE activities reducing
despite the rise in inflation. This was because
the gold coins provided an alternative
investment option, which cushioned investors
from potential inflation losses. Figure 13 shows
developments on inflation and the ZSE All
Share Index.
Figure 13: Inflation and ZSE All Share Index

Source: ZIMSTAT and RBZ, 2023


Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
VALUE TRADED ($ MILLIONS)
VOLUME TRADED (MILIONS)
Volume
Value

Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
ZSE All Share Index
Inflation

Victoria Falls Stock Exchange

The Victoria Falls Stock Exchange (VFEX)
recovered from losses incurred in the previous
month. Resultantly, the VFEX All Share Index
added 17.17% to close at 111.11 points, from
94.83 points recorded in the prior month.

On an annual basis, the VFEX All Share Index
added 3.44% to 111.11 points in January 2023,
compared to 107.42 points recorded in January
2022. Figure 14 shows the developments on the
VFEX All Share Index for the period from 31st
January 2022 to 31st January 2023.
Figure 14: Victoria Falls Stock Exchange All
Share Index

Source:
Victoria
Falls
Stock
Exchange
(VFEX), 2022

VFEX Market Capitalization

Owing to the positive momentum on the VFEX
during the month under analysis, market
capitalization increased to US$0.63 billion,
from US$0.44 billion recorded in December
2022. This reflected an increase of US$0.19
billion or 42.28% over the month.
INFLATION OUTTURN
Annual Inflation
Annual headline inflation continued to slow
down, declining from 105.5% in December
2022 to 101.5% in January 2023. This followed
declines in both annual food and non-food
inflation.

Annual food inflation fell from 162.7% in
December 2022, to 153.3% in January 2023.
Food inflation contributed 52.92 percentage
points to the annual inflation, during the month
under review.

Year- on- year, non-food inflation also
decelerated from 75.96% in December 2022 to
74.21% in January 2023. This was largely on
account of declines in housing, water,
electricity and gas and other fuels, transport and
miscellaneous goods and services. The nonfood component contributed about 48.59
percentage point to inflation during the
reporting month.
Monthly Inflation

Monthly inflation fell from 1.3% in December
2022 to 0.7% in January 2023, on account of
the decline in food inflation, which more than
offset the increase in non-food inflation.
Monthly food inflation decelerated from 2.1%
in December 2022 to 0.4% in January 2023.

Figure

shows
monthly
inflation
developments for the period from September
2021 to January 2023.


31-Jan-22
28-Feb-22
31-Mar-22
30-Apr-22
31-May-22
30-Jun-22
31-Jul-22
31-Aug-22
30-Sep-22
31-Oct-22
30-Nov-22
31-Dec-22
31-Jan-23

Figure 15: Month-on-Month Inflation (%)

Source: ZIMSTAT, 2023

Monthly non-food inflation rose from 0.6% in
December 2022 to 1.0% in January 2023,
largely driven by increases in housing, water,
electricity and gas and other fuels sub-category.
Partially offsetting the increases were declines
in communication, miscellaneous goods and
services, and clothing and footwear, among
others.
NATIONAL PAYMENTS SYSTEM

The value of transactions processed through the
National Payment Systems (NPS) stood at
ZW$4.0 trillion in January 2023, down from
ZW$4.99 trillion in the previous month. NPS
transaction volumes decreased by 21% to 62.47
million in the month under analysis.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of Real Time Gross Settlement
(RTGS) transactions declined by 29.09%, from
ZW$3.1 trillion in the previous month to close
at ZW$2.35 trillion in January 2023.
Figure 15: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2022

Cash Transactions

Cash-based
transactions
decreased
from
ZW$182.41 billion in December 2022 to
ZW$173.09 billion in January 2023.

Mobile and Internet Based Transactions

Mobile
and
internet-based
transactions
amounted to ZW$1.35 trillion, during the
month under analysis, representing a decrease
of 0.71% from ZW$1.36 trillion recorded in
December 2022.


Sep-21
Oct-21
Nov-21
Dec-21
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Food and non alcoholic beverages
Non food
All Items


Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Value in ZW$ Billions
Volume in Thousands
Volume
Value

Card Based Transactions

Card-based transactions decreased by 4.48% to
ZW$309.15 billion in January 2023, from
ZW$323.65 billion recorded in the previous
month.


MARCH 2023

RESERVE BANK OF ZIMBABWE

Statistical Tables

Monetary Statistics
1. Depository Corporations Survey

2. Central Bank Survey

3. Other Depository Corporations Survey

Other Depository Corporations

4.1 Assets

4.2 Liabilities

Commercial Banks
5.1 Assets

5.2 Liabilities

Building Societies
6.1 Assets

6.2 Liabilities

Sectoral Analysis of Bank Loans and Advances and Deposits

7.1 Sectoral Analysis of Commercial Banks Loans and Advances

7.2 Sectoral Analysis of Commercial Banks Deposits

Interest Rates

8.1 Lending Rates

8.2 Banks Deposit Rates

Inflation

9.1 Monthly Inflation

9.2 Yearly Inflation

External Statistics
11. Exchange Rates

Zimbabwe Stock Exchange
12. Zimbabwe Stock Market Statistics

National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

TABLE 1: DEPOSITORY CORPORATIONS SURVEY ($'000)
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Net Foreign Assets

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Central Bank

ODCs

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)

Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Deposits and Securities Excluded from Base Money

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad
Money

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Of which Foreign Currency Accounts

Currency Outside Depository Corporations

Memorandum Items
Reserve Money

FCAs as a Percentage of Deposits in M3

End Period Exchange Rate

Source: Reserve Bank of Zimbabwe, 2022
Notes:
(i) Depository corporations survey - formerly Monetary Survey.
(ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of 2000. Major changes include exclusion of Government deposits held by banks from broad money.
(iii) Transferable deposits made up of demand and savings deposits.
(iv) NCDs are also referred to as securities included in broad money.
(v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits.
(vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities)
(vii) Depository corporations made up of the Central Bank and other depository corporations
(viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB.
(ix) In December 2017, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank
(x) In December 2017, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Bank
(xi) In December 2018, statistics were revised from November 2017 due to reclassification of lines of credit (foreign liabilities) that were initially classified as deposits included in broad money
(xii) All monetary and financial statistics are valued in ZWL$ since the introduction of the interbank foreign exchange market in February 2019

Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Net Foreign Assets

Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities*

of which blocked funds

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

Loans

Loans and Advances

Amounts Due from Gvt including SDR Draw

Export Incentives

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Of which: Loans

Other Liabilities to ODCs

Of which: Aftrades Balances

Securities

Other Items(Net)

Shares and Other Equity

Other Items(Net)

Liabilities to Other Resident Sectors

Deposits and Securities Excluded from Base Mon

Monetary Base Incl. foreign currency clearing balances
Monetary Base

Bond Coins

Bond Notes

Liabilities to ODCs

Local Currency Reserve Deposits

Foreign Currency Reserve Deposits

Exess reserves

Private Deposits

Source: Reserve Bank of Zimbabwe,2022
NB: * Other Foreign Liabilities include blocked funds amounting to USD2.2 billion assumed by the Central Bank on behalf of Government.
TABLE 2: CENTRAL BANK SURVEY ($'000)

TABLE 3 : OTHER DEPOSITORY CORPORATIONS SURVEY ( $ '000)
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Net Foreign Assets

Claims on Non Residents

Of Which: Foreign Currency

Deposits

Other

Less Liabilities to Non Residents

Of Which: Deposits

Loans

Other

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Securities

Loans

Other
-

-

-

-

-

-

-


Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on the Central Bank

Currency

Reserves

Securities

Other Claims

Liabilities to the Central Bank

Other Items(Net)

Shares and Other Equity

Liabilities to other ressident sectors

Other Items(Net)

Deposits and Securities Included in Broad Money

Deposits Included in Broad Money
464,285,468.48

498,984,364.44

580,177,132.24

661,385,151.97

961,275,205.35

1,108,920,811.95

1,190,567,540.78

1,587,531,116.15 1,897,768,184.73 1,858,602,031.80 2,042,355,987.09 2,314,588,211.40
2,646,071,378.63
Transferable Deposits
424,997,643.40

451,469,626.06

526,027,929.32

608,741,115.91

891,276,383.52

1,028,029,948.34

1,096,365,440.31

1,453,358,587.07 1,740,700,191.97 1,692,150,785.93 1,853,157,849.44 2,081,176,430.96
2,371,032,667.32
of which FCAs
197,673,919.07

225,769,411.82

275,160,384.59

301,286,745.34

558,605,268.37

657,871,279.96

688,801,163.42

991,050,824.09 1,196,071,655.58 1,131,156,966.82 1,211,583,916.42 1,325,367,130.51
1,623,313,580.02
Other Deposits

Money Market Instruments
3,685,330.94

4,456,190.77

4,510,894.76

4,246,927.92

6,165,343.44

7,157,937.12

8,137,874.02


Source:Reserve Bank of Zimbabwe,2022

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Local
Other
Notes &
Coin
with
Other Depository
with
on

oca
Governemt
Other

Government
Local
Public
Institutional
Other cliams
Contigent Assets
Other Assets
Non Financial
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Government
Enterprises
Units
Assets

Jan
183.4

3,176.6

13,217.3

1,073.2

8,142.0


Feb
267.1

3,136.4

13,817.0

1,504.5

8,642.5


Mar
263.6

3,607.6

16,167.1

2,214.4

12,681.9


Apr
298.5

3,642.9

17,926.4

1,523.3

13,697.1


May
330.0

3,581.8

21,376.4

1,749.6

15,757.4


Jun
606.6

9,584.7

29,457.9

3,974.7

35,786.5


Jul
690.8

18,357.0

54,139.7

5,578.7

42,159.7


Aug
975.1

28,776.0

54,868.5

4,623.1

41,100.2


Sep
1,084.2

30,217.6

56,679.6

4,426.6

39,530.8


Oct
1,064.2

32,235.0

66,948.5

4,457.3

40,092.7


Nov
1,063.6

34,673.9

73,237.2

4,211.3

41,173.6


Dec
1,177.8

39,886.8

76,076.5

5,771.7

38,623.2


Jan
1,483.3

42,733.9

77,994.4

13,109.2

40,071.8


Feb
1,735.4

41,180.7

76,140.3

17,748.1

39,141.4


Mar
1,457.1

40,953.3

83,032.1

6,945.5

42,516.8


Apr
1,699.7

40,964.4

85,330.2

6,844.8

49,733.4


May
1,906.1

30,579.1

94,330.9

7,907.2

63,644.8


Jun
1,702.8

30,255.6

75,795.2

25,605.9

72,780.6


Jul
2,139.9

30,509.1

104,983.5

17,817.9

82,032.9


Aug
2,551.1

33,323.4

93,806.9

11,919.2

72,753.9


Sep
2,853.7

38,500.1

100,996.0

8,626.8

68,707.9


Oct
2,611.1

50,074.7

108,009.2

9,575.8

89,822.4


Nov
2,721.5

53,424.3

107,781.7

15,560.6

74,072.3


Dec
2,838.3

50,031.0

118,451.3

13,654.0

91,352.6


Jan
2,891.2

53,378.3

116,654.8

13,232.3

69,668.2


Feb
2,577.7

62,064.5

122,479.8

17,480.5

76,802.2


Mar
2,111.5

76,544.2

142,962.5

19,239.6

87,884.5


Apr
2,624.9

74,716.9

160,466.5

28,352.1

123,190.3


May
3,155.9

142,118.9

236,166.0

35,928.9

207,812.8


Jun
2,801.2

138,347.1

266,691.8

45,952.0

241,920.1


Jul
2,427.6

159,024.6

315,832.5

39,388.2

230,432.5


Aug
2,640.6

263,637.4

411,439.9

69,203.5

311,107.0


Sep
3,030.7

289,230.8

504,071.1

75,446.7

417,007.1


Oct
3,022.6

300,240.3

525,870.3

104,483.2

389,979.7


Nov
3,251.4

286,365.2

575,885.7

111,716.1

342,790.1


Dec
3,361.7

295,435.1

652,284.4

119,932.8

351,906.8


Jan
4,923.3

379,841.7

704,168.6

151,980.1

389,342.8


Source:Reserve Bank of Zimbabwe,2022
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations.
Public
Enterprises
TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Contigent
Other
TOTAL
and
Liablities
Liablities
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe,2022
TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
$ millions

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Government
Government
Enterprises
Institutional Units3
Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
165.80

2,845.62

12,018.43

708.00

7,706.57

1,811.38

4,029.43

-

125.52

14.97

5.11

12.17

326.11

10,766.91

77.59

2,965.93

3,395.90

8,058.15

55,033.6

Feb
251.70

2,756.57

12,731.97

889.16

8,264.76

1,532.87

3,877.19

-

117.45

13.99

5.15

11.56

329.47

11,656.91

88.37

5,441.70

11,907.90

8,653.69

68,530.4

Mar
242.41

3,063.92

14,545.58

1,948.14

12,381.17

2,497.47

4,373.76

-

0.08

20.23

4.39

11.39

765.82

14,041.67

127.46

7,917.31

5,718.53

9,244.62

76,904.0

Apr
263.29

3,147.75

16,673.44

1,287.51

13,285.14

3,056.32

4,235.96

-

0.08

18.39

4.47

9.75

834.72

14,864.30

129.90

7,642.80

6,534.14

9,703.93

81,691.9

May
284.33

3,144.57

19,827.46

1,553.68

15,003.29

3,130.38

4,160.50

-

0.12

45.79

4.53

9.61

768.01

17,762.27

143.44

7,042.04

6,012.40

9,845.09

88,737.5

Jun
515.11

8,372.39

26,368.55

3,570.85

34,550.44

7,527.46

5,841.98

-

0.12

90.14

4.29

9.41

2,010.79

26,638.87

215.56

24,299.33

14,590.26

18,983.05

173,588.6

Jul
577.99

16,536.53

49,470.13

4,219.81

40,259.84

11,399.93

6,357.84

-

-

74.57

4.33

12.61

1,025.78

33,054.99

229.06

28,551.07

10,247.64

19,646.49

221,668.6

Aug
821.16

26,519.73

49,165.59

4,265.44

38,763.72

14,219.24

6,484.68

-

-

39.07

14.05

14.74

1,046.29

38,741.31

231.00

25,354.64

9,460.49

19,961.16

235,102.3

Sep
891.26

27,646.41

51,169.67

3,898.65

38,420.20

14,126.83

6,354.19

-

-

107.40

9.61

22.30

1,050.38

41,088.91

228.95

28,289.36

17,608.70

19,375.08

250,287.9

Oct
896.48

29,309.79

60,589.19

3,602.58

38,877.31

13,530.74

7,763.97

-

20.06

109.83

17.57

22.18

1,019.00

48,440.92

268.07

29,764.70

15,978.22

19,616.63

269,827.2

Nov
919.42

31,596.89

67,899.10

3,494.87

39,693.38

14,134.74

7,098.29

-

0.02

110.37

20.00

16.81

1,269.94

54,496.74

259.90

29,821.16

16,683.48

19,526.70

287,041.8

Dec
1,019.76

36,507.59

70,392.07

4,949.48

37,346.17

10,803.58

9,985.57

-

-

1.18

23.30

26.76

1,269.01

62,953.03

718.16

29,608.01

12,793.91

28,230.82

306,628.4

Jan
1,237.43

39,565.64

71,463.64

12,288.89

39,092.85

10,921.99

8,281.80

-

-

1.18

16.67

18.01

1,264.28

71,090.96

718.83

25,036.22

12,333.21

32,123.11

325,454.7

Feb
1,320.27

38,100.03

69,341.48

16,867.76

38,108.83

6,341.39

12,518.15

-

-

1.26

24.15

22.69

1,493.66

77,324.34

774.89

28,339.17

15,953.14

33,612.14

340,143.4

Mar
1,244.16

38,369.53

76,479.44

5,317.61

41,401.24

8,733.65

15,889.61

-

19.21

34.56

15.17

21.67

1,309.75

80,607.03

878.97

32,908.13

19,302.34

30,861.86

353,393.9

Apr
1,430.83

38,008.89

79,592.64

5,639.40

48,564.03

7,679.05

18,267.01

-

19.23

62.89

19.86

12.71

1,336.70

91,062.16

956.75

34,537.88

21,214.88

32,383.77

380,788.7

May
1,648.09

28,677.21

87,611.51

6,479.66

59,745.10

11,582.44

18,846.75

-

152.75

93.37

21.77

16.58

1,263.75

94,790.46

990.41

35,592.28

21,398.95

31,307.45

400,218.5

Jun
1,419.27

28,452.53

69,413.26

24,215.35

70,835.98

17,601.31

17,152.75

-

19.46

92.91

17.91

77.79

1,511.86

106,954.15

1,247.08

26,856.45

26,444.57

33,288.94

425,601.6

Jul
1,794.72

29,100.73

97,429.50

15,901.02

79,937.02

25,314.30

21,665.10

-

290.76

47.39

17.32

67.80

1,351.13

117,348.16

1,301.18

26,869.18

29,079.64

33,587.68

481,102.6

Aug
2,137.72

31,734.84

85,441.98

9,099.10

70,391.64

25,194.95

31,434.20

-

339.72

51.28

22.49

63.94

1,583.28

132,522.63

1,337.19

32,281.12

30,022.43

37,697.05

491,355.6

Sep
2,417.81

36,259.54

93,032.71

6,164.78

66,640.78

25,023.38

31,460.81

-

366.88

57.60

21.07

62.45

1,531.08

134,780.92

1,342.62

31,980.97

30,439.34

34,630.85

496,213.6

Oct
1,993.06

47,379.62

99,470.02

7,339.71

86,302.62

26,924.18

37,639.16

-

188.07

121.59

21.20

75.41

1,683.89

149,477.36

1,523.34

49,580.96

40,853.06

36,664.31

587,237.6

Nov
2,168.80

49,327.15

100,125.90

12,723.73

71,667.33

29,748.47

41,015.56

-

187.03

999.12

21.24

74.76

1,882.53

168,661.25

1,484.24

52,327.68

40,073.22

43,878.52

616,366.5

Dec
2,315.32

46,412.99

109,803.84

10,942.92

87,347.07

33,690.93

38,610.29

-

185.99

4,146.13

21.09

167.53

2,798.61

184,836.87

3,368.75

60,916.98

41,811.67

59,011.63

686,388.6

Jan
2,359.27

49,206.02

108,119.97

10,419.90

66,808.45

30,774.31

38,636.84

-

186.80

801.50

20.33

163.02

3,628.73

199,495.34

2,997.94

53,627.76

47,405.91

69,989.80

684,641.9

Feb
1,971.78

57,553.54

112,522.99

14,300.66

70,750.63

28,703.53

44,705.21

-

-

976.55

20.34

158.06

5,367.16

215,520.37

3,055.50

55,099.61

53,459.12

70,832.47

734,997.5

Mar
1,541.49

70,856.33

130,423.48

15,503.46

82,662.70

43,284.13

44,874.23

-

-

1,380.20

19.40

253.42

6,240.94

258,715.05

3,092.69

65,660.61

58,874.69

76,938.87

860,321.7

Apr
1,939.64

70,204.43

144,168.02

23,452.88

117,033.42

26,628.79

57,772.47

-

-

722.54

37.54

252.44

6,858.06

305,476.79

4,348.46

53,372.28

62,788.55

71,414.75

946,471.1

May
2,397.94

131,996.38

211,837.59

31,586.61

190,366.81

61,757.62

64,373.91

-

154.99

1,559.14

41.28

289.00

16,193.81

398,048.90

4,712.74

134,993.54

94,851.60

111,543.84

1,456,705.7

Jun
2,263.18

127,839.16

234,109.43

40,937.28

219,607.39

63,631.76

83,690.44

-

653.97

2,159.12

61.20

226.29

13,888.60

478,163.38

8,954.46

169,511.81

110,528.09

168,440.54

1,724,666.1

Jul
1,578.47

147,217.74

284,912.89

34,334.13

202,815.28

41,246.78

86,971.63

-

394.34

1,852.14

100.65

349.68

22,516.21

556,692.12

9,737.92

144,090.18

129,869.55

192,524.32

1,857,204.0

Aug
1,630.70

247,190.46

377,078.80

64,650.96

273,181.97

29,186.59

95,346.12

-

330.12

3,556.96

113.50

287.14

26,564.57

681,253.30

11,493.92

167,029.36

238,442.98

194,745.11

2,412,082.6

Sep
1,791.71

270,594.59

465,301.31

68,020.95

370,323.69

18,184.96

134,414.53

-

267.40

4,916.56

115.11

306.33

21,773.50

806,774.24

12,680.89

146,133.14

215,417.68

219,933.24

2,756,949.8

Oct
1,704.79

281,204.64

480,106.49

94,573.08

343,440.15

22,895.35

136,939.74

-

204.69

2,201.55

116.48

341.96

22,935.50

852,069.39

15,525.65

165,306.91

232,188.99

245,924.22

2,897,679.6

Nov
1,644.95

259,109.18

533,438.97

101,870.32

299,715.01

17,089.04

180,534.44

-

141.97

2,292.28

119.53

303.55

22,178.73

960,814.77

15,450.39

170,944.78

196,338.19

250,551.19

3,012,537.3

Dec
1,778.71

263,863.65

603,136.26

110,935.77

299,087.30

7,965.37

266,725.41

-

79.26

3,887.78

114.42

282.61

30,272.25

1,066,654.12

16,130.63

159,126.16

189,560.01

344,235.10

3,363,834.8

Jan
2,391.61

340,953.56

654,740.29

143,455.70

335,380.17

(1,443.59)

301,026.07

-

105.97

4,873.87

228.45

251.24

44,113.17

1,307,512.98

17,767.70

227,545.42

204,830.78

374,080.77

3,957,814.2

Source:Reserve Bank of Zimbabwe,2022
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 5.1: COMMERCIAL BANKS -ASSETS
$ millions
Debt Securities
Loans and Advances

ZWL$ millions
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
Debt Securities
Foreign Liabilities
RBZ
Other Depository Other Finacial
Capital
Contigent
Other
from the public
Corporations
Corporations
Corporations
and
Liablities
Liablities
TOTAL
Reserves

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe,2022
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

Foreign
Other Assets
Non Financial
TOTAL
End of
Notes
Assets
Bond
&
Balances
Balances with
Balances
Other Claims
Notes &
Coin
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Mortgages
Government
Other
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
16.3

322.3
1,106.8

361.8
421.8

-

283.0

20.1
-

-

478.2

-

1,498.8

717.5
1,552.8

6,779.5

Feb
14.5

368.2
977.2

612.5
370.5

-

357.1

20.1
-

1.5

503.6

-

2,097.7

735.9
1,538.8

7,597.4

Mar
20.1

529.4
1,423.7

261.8
282.6

-

341.6

19.2
-

0.6

526.4

-

2,406.4

1165.6
1,914.1

8,891.5

Apr
33.1

493.1
914.2

232.1
384.9

-

424.3

18.1
-

-

525.9

-

2,568.2

1528.5
2,134.4

9,256.8

May
39.7

434.7
1,248.4

192.3
725.0

-

382.4

17.0
-

-

517.6

-

2,793.4

2669.6
2,146.1

11,166.3

Jun
88.7

1167.9
2,857.8

395.9
1,222.0

-

385.4

13.8
-

-

653.4

-

4,663.9

2688.0
4,712.1

18,848.8

Jul
109.1

1780.7
3,878.9

1342.9
1,879.4

-

346.6

13.4
-

-

585.7

-

5,648.0

3879.5
4,927.7

24,391.8

Aug
142.9

2175.5
4,799.3

341.7
2,310.6

-

294.6

13.1
-

-

688.7

-

6,552.1

4480.3
6,104.6

27,903.4

Sep
179.8

2469.9
4,547.1

504.6
1,027.7

-

218.3

12.9
-

0.4

741.5

-

6,518.3

2774.9
6,503.8

25,499.1

Oct
149.1

2787.0
5,056.1

778.9
1,182.4

-

206.5

12.3
-

112.2

772.3

-

6,874.4

2795.4
6,537.1

27,263.4

Nov
104.3

2935.7
4,448.9

691.0
1,412.8

-

1,666.7

11.6
-

157.8

930.4

-

7,498.6

2571.1
6,712.9

29,141.9

Dec
116.2

3210.3
5,085.9

802.0
1,183.4

-

1,830.2

11.2
-

251.1

1,008.4

-

8,562.3

2559.4
7,352.9

31,973.2

Jan
188.7

2943.3
5,986.5

793.8
843.5

-

1,783.8

10.2
-

211.3

1,091.3

0.0

9,329.1

2980.3
7,685.1

33,846.9

Feb
345.7

2762.9
6,004.8

811.1
984.2

-

2,731.0

9.2
-

236.8

2,089.3

-

8,950.2

2949.2
7,790.6

35,665.0

Mar
168.3

2278.9
6,313.1

1594.4
1,028.2

-

1,341.7

8.4
-

415.1

1,242.4

-

10,867.7

3027.5
7,841.0

36,126.8

Apr
206.9

2702.1
5,302.6

1156.7
1,085.4

-

871.7

7.7
-

508.9

1,581.5

-

14,233.6

3431.1
7,237.9

38,326.2

May
210.3

1687.6
5,962.2

1250.9
3,847.1

-

116.9

7.0
-

517.7

1,568.8

-

17,154.9

2927.9
7,532.9

42,784.2

Jun
249.6

1649.7
6,202.6

1163.8
1,866.7

-

204.6

6.5
-

588.0

1,851.9

-

18,795.4

2580.9
7,701.1

42,860.7

Jul
283.7

1212.2
7,193.4

1892.7
1,875.4

-

1,143.4

6.0
-

447.3

1,963.2

-

18,280.3

3923.5
7,695.6

45,916.5

Aug
352.8

1408.8
7,869.3

2537.6
2,316.2

-

3,535.6

5.4
-

399.5

2,101.3

-

19,422.2

3837.6
7,666.6

51,453.0

Sep
349.8

1926.6
7,608.5

2430.2
1,941.4

-

4,314.6

5.1
-

205.2

2,231.7

-

20,461.1

4013.2
9,460.7

54,948.1

Oct
411.5

2396.2
8,221.0

2162.4
3,421.5

-

5,627.7

4.3
-

271.1

2,539.5

-

22,881.3

5432.3
9,501.3

62,870.1

Nov
339.8

3578.4
7,561.6

2568.8
2,299.5

-

5,882.7

3.7
-

566.4

2,788.5

-

27,326.1

4400.3
9,614.3

66,930.0

Dec
351.1

3217.3
8,557.8

2619.2
3,620.2

-

2,353.6

3.0
-

1,189.0

2,786.9

-

33,115.3

5610.8
11,334.1

74,758.3

Jan
324.6

3504.3
8,506.5

2680.3
2,631.0

-

1,110.8

2.4
-

1,487.3

2,967.6

-

35,913.5

6693.8
14,008.7

79,830.9

Feb
411.5

4021.5
9,763.6

3069.7
5,678.0

-

4,048.9

1.6
-

1,465.4

3,241.1

-

39,977.5

4511.5
13,964.4

90,154.6

Mar
354.3

4413.6
11,882.6

3691.3
4,932.3

-

5,235.0

0.9
-

1,590.0

3,888.3

-

42,741.3

9086.6
15,421.2

103,237.4

Apr
546.4

3054.1
15,585.8

4857.7
5,768.6

-

5,714.4

0.2
-

1,861.4

4,143.7

-

48,582.4

9654.2
16,999.2

116,768.1

May
639.5

8326.7
23,817.6

4251.9
16,001.6

-

6,150.9

0.0
-

1,486.3

8,474.8

-

74,864.0

14793.9
17,091.2

175,898.5

Jun
418.5

8464.3
32,497.6

3807.5
21,184.8

-

2,639.3

0.0
-

1,340.0

10,851.1

-

85,145.9

18155.8
35,128.1

219,633.0

Jul
700.4

9914.6
30,660.3

4983.4
24,902.9

-

4,077.6

0.0
-

1,411.5

13,722.1

-

98,066.0

9998.6
45,127.9

243,565.1

Aug
863.8

14422.1
33,703.2

4483.0
34,971.8

-

4,379.8

0.0
-

2,106.6

16,515.4

-

115,491.9

8745.3
45,694.0

281,377.1

Sep
1,086.8

14998.2
37,911.3

7470.1
45,094.8

-

8,440.8

0.0
-

1,302.8

17,996.8

-

129,242.7

11630.7
60,830.4

336,005.2

Oct
1,158.3

14768.7
44,296.5

10013.7
44,664.1

-

14,109.9

0.0
-

1,142.4

16,817.7

-

123,793.8

30036.4
47,678.2

348,479.7

Nov
1,449.3

22456.9
41,398.0

9771.8
41,317.6

-

17,572.6

0.0
-

2,085.3

16,785.8

-

136,029.9

30694.0
46,275.8

365,836.9

Dec
1,470.7

23012.7
48,533.8

8913.7
50,229.0

-

21,411.1

0.0
19,993.4

2,176.2

17,693.7

-

119,322.3

39279.1
69,102.5

421,138.1

Jan
2,402.7

32405.1
47,062.6

8410.8
50,364.6

-

17,976.2

0.0
23,668.5

2,406.3

18,311.0

-

132,757.4

41367.4
69,570.1

446,702.8

Source:Reserve Bank of Zimbabwe,2022
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 6.1: BUILDING SOCIETIES -ASSETS
$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Other
TOTAL
and
Liablities
End of
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe,2022
Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
$ millions

AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe,2022
/1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES
$ ('000)

END OF
AGRICULTURE CONSTRUCTION
COMMUNICATIONS
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
INVESTMENTS ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source: Reserve Bank of Zimbabwe,2022
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
$ ('000)

End of
Nominal
Lending Rates 1
Individuals
Corporate

Jan
5.00-65.00
16.56
17.20
Feb
5.00-65.00
16.92
16.68
Mar
5.00-65.00
19.65
17.21
Apr
5.00-65.00
18.57
18.69
May
5.00-65.00
18.06
18.07
June
5.00-65.00
20.04
17.38
July
5.00-65.00
18.87
20.11
Aug
6.00-65.00
19.14
18.99
Sep
6.00-65.00
20.65
25.09
Oct
6.00-65.00
26.04
26.68
Nov
6.00-65.00
30.32
27.67
Dec
6.00-65.00
32.11
26.91

Jan
6.00-65.00
32.65
24.77
Feb
6.00-85.00
36.67
21.36
Mar
6.00-85.00
35.83
22.61
Apr
6.00-85.00
35.22
22.59
May
6.00-85.00
34.84
21.76
Jun
6.00-85.00
36.25
22.46
Jul
6.00-85.00
36.56
21.66
Aug
6.00-85.00
41.06
39.65
Sep
6.00-85.00
40.61
39.50
Oct
6.00-85.00
41.86
45.81
Nov
6.00-8500
39.13
38.10
Dec
6.00-8500
39.34
37.94

Jan
15.00-85.00
39.32
39.62
Feb
15.00-85.00
40.55
64.02
Mar
15.00-85.00
40.74
43.88
Apr
15.00-85.00
38.15
45.56
May
15.00-85.00
38.01
47.25
Jun
15.00-85.00
38.45
48.25
Jul
80.00-240.00
82.75
165.45
Aug
80.00-230.00
88.46
155.96
Sep
100.00-230.00
98.07
158.46
Oct
100.00-290.00
99.37
115.26
Nov
100.00-290.00
99.03
110.97
Dec
100.00-290.00
99.02
110.83

Jan
100.00-240.00
90.05
116.03
Source:Reserve Bank of Zimbabwe, 2022
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal lending rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Lending Rates

TABLE 8.2 : BANK DEPOSIT RATES (percent per annum)
END OF
SAVINGS
3 MONTHS

Jan
0.22-12.00
1.00-8.00
Feb
0.22-12.00
1.00-8.00
Mar
0.22-12.00
1.00-8.00
Apr
0.22-12.00
1.00-8.00
May
0.22-12.00
1.00-8.00
Jun
0.22-12.00
1.00-8.00
Jul
0.22-12.00
1.33-14.00
Aug
0.50-15.00
1.00-20.28
Sep
0.50-15.00
1.00-20.28
Oct
0.50-15.00
1.00-20.28
Nov
0.50-15.00
1.00-20.28
Dec
0.50-15.00
1.00-20.28

Jan
0.22-12.00
2.00-21.50
Feb
0.22-12.00
2.00-21.50
Mar
0.22-12.00
2.00-21.50
Apr
0.22-12.00
2.00-21.50
May
0.22-12.00
2.00-21.50
Jun
0.25-12.00
2.00-26.00
Jul
0.50-12.00
2.00-26.00
Aug
0.50-12.00
2.00-26.00
Sep
0.50-12.00
2.00-26.00
Oct
0.50-12.00
2.00-26.00
Nov
0.50-12.00
2.00-26.00
Dec
0.50-12.00
2.00-26.00

Jan
0.50-12.00
2.00-26.00
Feb
0.50-12.00
2.00-26.00
Mar
0.50-12.00
2.00-26.00
Apr
0.50-12.50
2.00-30.00
May
0.50-12.50
2.00-32.00
Jun
0.50-12.50
2.00-32.00
Jul
40.00
80.00-92.00
Aug
40.00
80.00-92.00
Sep
40.00
80.00-92.00
Oct
40.00
80.00-92.00
Nov
40.00
80.00-92.00
Dec
40.00
80.00-95.00

Jan
40.00
80.00-110.00
Source:Reserve Bank of Zimbabwe, 2022
* Deposit rates depict the range of rates qouted by banks.
COMMERCIAL BANKS

ALCOHOLIC
BEVERAGES
CLOTHING
&
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNIC
ATION
RECREATION &
EDUCATION
RESTAUR
ANTS &
MISC.
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Zimstat, 2022
FOOD & NON
ALCOHOLIC
BEVERAGES
ALL
ITEMS
(February 2019 = 100)
TOTAL NON

FOOD
INFLATION
ALCO HO LIC
CLO T HING
HO US ING ,
W AT E R,
FURNIT URE
MIS C.
FO O D &
B E VE RAG E S
&
E LE CT RICT Y,
G AS
AND
RE CRE AT IO N &
RE S T AURANT S
&
G O O DS &
T O T AL NO N
NO N
ALCO HO LIC
ALL
& T O B ACCO
FO O T W E AR
& O T HE R
E Q UIP ME NT
CULT URE
HO T E LS
S E RVICE S
FO O D
B E VE RAG E S
IT E MS
FUE LS
WEIGHTS


Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Zimstat, 2022
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)
NON-FOOD INFLATION
HE ALT H
T RANS P O RT
CO MMUNICAT IO N
E DUCAT IO N

USA
SOUTH ARFICAN
BOTSWANA
JAPANESE
EURO
POUND
END OF
Dollar
RAND
PULA
YEN
STERLING

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source: Reserve Bank of Zimbabwe, 2022
TABLE 11 : SELECTED INTERNATIONAL EXCHANGE RATES
1. ZWL$ dollar per unit of foreign currency

END OF
Market Capitalisation
All Share*
ZWL$ millions

Jan

Feb

Mar

Apr

May

June*

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec


Jan

Source:Zimbabwe Stock Exchange, 2022
*All Share index was introduced in January, 2018
**As at 26 June 2020
TABLE 12: ZIMBABWE STOCK MARKET STATISTICS
Market Turnover
ZWL$ million
Volume of Shares
Mining
Indices

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe, 2022
TABLE 13.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (ZWL$ millions)

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe, 2022
TABLE 13.2 : ZETSS AND RETAIL PAYMENTS
Volumes of Transactions (000's)