Vol. 27 No. 32

Week Ending
8th August 2025

Weekly Economic
Highlights
TABLE OF CONTENTS


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

1. OVERVIEW
This report presents a snapshot of the key developments in the domestic monetary and financial markets of
the economy for the week ending 8th August 2025. It encompasses updates on the money and capital markets,
performance of the national payment system, exchange rate dynamics, international commodity prices
movements and developments in the tobacco industry.
The deposit rates for both the local currency and foreign currency increased for all tenors save for savings
rates which declined. The local currency lending rates for individual clients increased, while for corporate
clients decreased. Lending rates for foreign currency increased for all clients expect for individual maximum
rates which declined.
The Zimbabwe Stock Exchange (ZSE) traded negatively, shedding 2.45% from 208.42 points to close at
203.32 points. The Victoria Falls Stock Exchange (VFEX), however, traded positively, adding 1.34% to settle
at 122.87 points.
The total value of transactions processed through the National Payment Systems platforms increased by 1.39%
due to an increase in mobile money, POS, ATM and ZIPIT mobile transactions. During the same period, the
volume of transactions processed also increased by 4.4%, mainly attributable to the increases in POS, mobile
money and ZIPIT mobile transactions.
On the interbank market, the average exchange rate of the Zimbabwe Gold (ZiG) appreciated by 0.06% to
ZiG26.77 per US$1 during the week ending 8th August 2025, from ZiG26.79 per US$1 recorded in the
previous week.
During the week ending 8th August 2025, the average prices for platinum, palladium, and nickel declined.
Lithium and gold prices, however, firmed during the same week. Gold prices surged following the United
States' recent decision to impose tariffs on gold bars. Lithium prices increased after the Zijin Mining Group
in China was forced to suspend operations, easing oversupply concerns.
Platinum prices decreased mainly due to slackening demand for the metal. The palladium prices fell ahead of
US-Russia talks amidst weak demand from the automotive sector. Nickel prices slumped as supply outpaced
demand during the week under analysis.
As of the 109th day of the 2025 tobacco selling season, total sales reached 353.31 million kilograms, marking
a 53.01% increase from 230.91 million kilograms sold during the same period in 2024. Sales revenue also
surged by 48.26%, rising from US$0.792 billion in 2024 to US$1.174 billion this year. The average price of
tobacco was US$3.32 per kg, down from US$3.43 per kg recorded in the same period last year

2. INTEREST RATES

Average commercial bank deposit rates (Local Currency (ZiG) (%)
ZiG Deposit rates
18 July 2025
25 July 2025
01 August 2025
08 August 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
18 July 2025
25 July 2025
01 August 2025
08 August 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
18 July 2025
25 July 2025
01 August 2025
08 August 2025
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


Commercial bank weighted lending rates (Foreign Currency (US$) (%)
US$ Lending rates
18 July 2025
25 July 2025
01 August 2025
08 August 2025
Individuals


Minimum

Maximum

Corporates


Minimum

Maximum

Source: Reserve Bank of Zimbabwe, 2025


Commercial banks and building societies mortgage lending rates (%)
Mortgage Lending
rates
18 July 2025
25 July 2025
01 August 2025
08 August 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)
18-July-25

25-Luly-25

01-Aug-25

08-Aug-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)
18-July-25

25-July-25

01-Aug-25

08-Aug-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

09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
Indices
ZSE Indices
All Share Index (ZSE)
Top 10 Index
Mining Index

09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
ZiG Billion
ZSE Market Capitalisation

09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
Index
VFEX All Share Index

09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
US$ Thousand
VFEX Market Turnover

09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
US$ Billion
VFEX Market Capitalisation


09-May-25
16-May-25
23-May-25
30-May-25
06-Jun-25
13-Jun-25
20-Jun-25
27-Jun-25
04-Jul-25
11-Jul-25
18-Jul-25
25-Jul-25
01-Aug-25
08-Aug-25
ZiG Thousands
ZSE Market Turnover

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

5. ENERGY PRICES

Energy Prices

18 July 2025
25 July 2025
01 Aug 2025
08-Aug 2025
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 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
04-Aug-25

05-Aug-25

06-Aug-25

07-Aug-25

08-Aug-25

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


PAYMENT STREAM
WEEK ENDING
01 Aug 2025
WEEK ENDING
08 August 2025
WEEKLY
CHANGE (%)

VALUES

RTGS
26,233,750,542.37
25,591,466,143.23
(2.45)
Of which ZiG
8,088,757,945.62
8,404,453,241.20
3.90
Of which US$ transactions
(ZiG Equivalent)
18,144,992,596.75
17,187,012,902.03
(5.28)
POS
2,666,125,587.32
2,865,148,921.84
7.46
ATM
2,245,211,180.36
2,363,062,130.81
5.25
MOBILE BANKING
365,054,008.94
312,875,274.97
(14.29)
MOBILE MONEY
3,185,784,474.55
4,021,177,219.14
26.22
ZIPIT MOBILE
247,926,313.63
276,732,635.78
11.62
TOTAL
34,943,852,107.15
35,430,462,325.77
1.39

VOLUMES

RTGS
256,345
192,283
(24.99)
Of which ZiG
105,610
80,799
(23.49)
Of which US$
150,735
111,484
(26.04)
POS
1,958,244
2,008,685
2.58
ATM
268,025
267,317
(0.26)
MOBILE BANKING
434,790
377,015
(13.29)
MOBILE MONEY
11,568,133
12,255,242
5.94
ZIPIT MOBILE
232,933
265,064
13.79
TOTAL
14,718,470
15,365,606
4.40

Mosi-oa-Tunya Gold Coin Prices
Gold Coin
Price
04-Aug-25
05-Aug-25
06-Aug-25
07-Aug-25
08-Aug-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
(28 July - 01 Aug)

04-Aug

05-Aug

06-Aug

07-Aug

08-Aug

Weekly Average
(04 Aug – 08 Aug)

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
(28 July –01 Aug)

04-Aug

05-Aug

06-Aug

07-Aug

08-Aug

Weekly Average
(04 Aug – 08 Aug)

Weekly change (%)

Source: BBC, KITCO and Bloomberg, 2025

Figure 3: Weekly International Commodity Price Developments (23rd May 2025– 8th August 2025)


Source: BBC, KITCO and Bloomberg, 2025


23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
US$/oz
Palladium

23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
US$/oz
Gold


23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
US$/tonne
Platinum

23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
US$/tonne
Lithium

23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
US$/tonne
Nickel

23-May
30-May
6-Jun
13-Jun
20-Jun
27-Jun
4-Jul
11-Jul
18-Jul
25-Jul
1-Aug
8-Aug
US$/barrel
Crude oil

8. TOBACCO SALES

Weekly Cumulative Tobacco Sales: Day 109 (8th August 2025)

Variance (%)
Cumulative Quantity Sold (Kgs)
353,309,050
230,906,318
53.01
Average Price (US$/kg)
3.32
3.43
(3.21)
Cumulative value (US$)
1,174,045,856
791,894,900
48.26
Source: Tobacco Industry and Marketing Board (TIMB), 2025


RESERVE BANK OF ZIMBABWE
AUGUST 2025