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RBZ Records Decrease In Reserve Money

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The highest bank in the land which is the Government of Zimbabwe’s banker and every other bank’s banker, the Reserve Bank of Zimbabwe (RBZ) has recorded a decrease in Reserve Money as of the week ending 29 October 2021 reflecting a decrease in banks’ liquidity at the RBZ.

In the RBZ’s previous report for the week that ended on 22 October 2021, Reserve Money had decreased by ZW$2.35 billion.

In an exclusive interview with TechnoMag, Governor of the Reserve Bank, Dr. John Mangudya revealed data relating to the following,

Reserve Money At The RBZ As Of 22 October 2021
Reserve Money At The RBZ As Of 15 October 2021
Reserve Money At The RBZ As Of 08 October 2021
Reserve Money At The RBZ As Of 10 September 2021
Reserve Money At The RBZ As Of 27 August 2021
Reserve Money At The RBZ As Of 20 August 2021
Reserve Money At The RBZ As Of 06 August 2021

TechnoMag exclusively presents the central bank’s statement on the status of Reserve Money for the week ending 29th October 2021.

1. Reserve money fell by ZW$2.35 billion to ZW$24.36 billion during the week ending 29th October 2021, compared to the previous week’s position of ZW$26.71 billion.

2. The decline in reserve money largely reflected decreases of ZW$2.77 billion and ZW$32.40 million in banks’ liquidity (RTGS balances) at the Central Bank and currency issued, respectively. Partially offsetting the decrease was an increase of ZW$453.29 million in required reserves.

3. Liquidity mopping up operations by the Bank through the issuance of non-negotiable certificates of deposits (NNCDs) resulted in the fall in market liquidity.

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