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AfricaEconomyZimbabwe

Zimbabwe’s reserve money grows 6.11% to ZW$15.96bn

By Almot Maqolo

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Reserve money, local banks’ balances sitting with the central bank, rose 6.11% to ZW$15.96 billion as at 6 November 2020 from ZW$15.04 billion on 30 October 2020, the central bank has said.

This largely reflects an increase of ZW$895.5 million in banks’ deposits at the Reserve Bank of Zimbabwe (RBZ).
Statutory reserves and currency issued also rose by ZW$30.5 million and ZW$8.9 million, respectively, while other deposits at the central bank fell by ZW$11.1 million.

Bank’s RTGS liquidity surged by 8% from ZW$11.15 billion as at 30 October 2020 to ZWL$12.05 billion during the week under review.“The growth in banks’ RTGS liquidity was, in part, driven by maturing open market operations (OMO) savings bonds,” RBZ stated.


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