| {"doc_id": "1fa7429d2e884d68b7fa548c9e9c710f", "text": "Vol. 28 No. 8 \n \nWeek Ending \n20th February 2026 \n \nWeekly Economic \nHighlights \nTABLE OF CONTENTS \n \n1. \nOVERVIEW ............................................................................ 1 \n2. \nINTEREST RATES ................................................................ 2 \n3. \nEQUITY MARKETS .............................................................. 3 \n4. \nCLEARING AND SETTLEMENT ACTIVITY .................. 5 \n5. \nENERGY PRICES .................................................................. 5 \n6. \nGOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND \nGOLD BACKED DIGITAL TOKENS (GBDT) .................. 5 \n7. \nEXTERNAL SECTOR ........................................................... 6 \n \n \n \n \n1 \n1. OVERVIEW \nThis report provides an overview of key developments in the monetary and financial sectors of the economy \nduring the week ending 20th February 2026. It includes updates on domestic money and capital markets, \nnational payment systems, exchange rates, and global commodity prices \nDomestic money market developments were mixed during the week under review. Both the local and foreign \ncurrency deposit rates increased across most tenors, apart from saving rates, which remained unchanged. \nRegarding lending, local and foreign currency lending rates declined across most clients’ segments, except for \nminimum lending rates for local currency individual borrowers which recorded an increase. \nCapital markets performance weakened during the week ending 20th February 2026, with both the Zimbabwe \nStock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) losing traction. The ZSE and VFEX \ndeclined by 1.14% and 4.13% to close at 360.19 points and 208.59 points, respectively. \nActivity in the National Payment Systems reflected mixed trends over the same period. The total value of \ntransactions processed increased by 12.10% from ZiG34.84 billion reported in the previous week to ZiG39.05 \nbillion while transaction volumes decreased by 3.54% from 16.87 million to 16.30 million. The largest share \nof transactional values was processed through the Real-Time Gross Settlement (RTGS) system, accounting \nfor 82.54%, while mobile money accounted for 88.36% of the transaction volumes. \nIn the interbank foreign currency exchange market, the Zimbabwe Gold currency (ZiG) depreciated by 0.02%, \nfrom an average of ZiG25.5688 per US$1 in the previous week to ZiG25.5746 per US$1, during the week \nunder review. \nGlobal commodities recorded mixed price movements during the week ending 20th February 2026. \nInternational weekly average prices for gold, platinum and nickel declined, while prices for palladium, Brent \ncrude oil and lithium increased. \nGold prices fell on account of the strengthened U.S. dollar, reducing demand for the yellow metal Platinum \nprices declined as large stockpiles and steady recycling eased supply pressures, while low car production and \nthe shift toward electric vehicles reduced demand. Nickel prices decreased due to policy uncertainty, including \nIndonesia’s quota adjustment, combined with lingering concerns over the potential 2026 global supply glut. \nPalladium prices rose due to market uncertainty, strong industrial demand and supply concerns tied to \nconcentrated mining production. For lithium, the increase was largely driven by growing optimism around \ndemand for electric vehicles (EVs) and energy storage systems (ESS), which are major consumers of lithium-\nion batteries. \n \n \n \n \n \n2 \n2. INTEREST RATES \n \nAverage commercial bank deposit rates (Local Currency (ZiG) (%) \nZiG Deposit rates \n30-Jan-2026 \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \nSavings \n \n \n \n \nMinimum \n3.81 \n3.81 \n3.81 \n3.81 \nMaximum \n4.14 \n4.14 \n4.14 \n4.14 \n1-month deposit \n \n \n \n \nMinimum \n6.49 \n6.49 \n6.49 \n6.69 \nMaximum \n11.02 \n11.02 \n11.02 \n11.22 \n3-months deposit \n \n \n \n \nMinimum \n6.62 \n6.62 \n6.62 \n6.87 \nMaximum \n10.51 \n10.51 \n10.51 \n10.76 \n6-months deposit \n \n \n \n \nMinimum \n6.64 \n6.64 \n6.64 \n6.93 \nMaximum \n10.53 \n10.53 \n10.53 \n10.82 \n12-months deposit \n \n \n \n \nMinimum \n6.66 \n6.66 \n6.66 \n6.99 \nMaximum \n11.24 \n11.24 \n11.24 \n11.58 \nOver 1 year \n \n \n \n \nMinimum \n6.67 \n6.67 \n6.67 \n7.00 \nMaximum \n11.25 \n11.25 \n11.25 \n11.58 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \nAverage commercial bank deposit rates (Foreign Currency (US$) (%) \nUS$ Deposit rates \n30-Jan-2026 \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \nSavings \n \n \n \n \nMinimum \n1.75 \n1.75 \n1.75 \n1.75 \nMaximum \n2.08 \n2.08 \n2.08 \n2.08 \n1-month deposit \n \n \n \n \nMinimum \n3.69 \n3.69 \n3.69 \n3.92 \nMaximum \n6.56 \n6.56 \n6.56 \n6.76 \n3-month deposit \n \n \n \n \nMinimum \n4.18 \n4.18 \n4.18 \n4.40 \nMaximum \n7.45 \n7.45 \n7.45 \n7.66 \n6-month deposit \n \n \n \n \nMinimum \n4.31 \n4.31 \n4.31 \n4.54 \nMaximum \n7.77 \n7.77 \n7.77 \n7.96 \n12-Month deposit \n \n \n \n \nMinimum \n4.61 \n4.61 \n4.61 \n4.83 \nMaximum \n8.17 \n8.17 \n8.17 \n8.36 \nOver 1 year \n \n \n \n \nMinimum \n4.72 \n4.72 \n4.72 \n4.92 \nMaximum \n8.34 \n8.34 \n8.34 \n8.50 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \n \n \n \n \n \n \n3 \nCommercial bank weighted lending rates (Local Currency (ZiG) (%) \nZiG Lending rates \n30-Jan-2026 \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \nIndividuals \n \n \n \n \nMinimum \n43.57 \n43.34 \n43.34 \n43.66 \nMaximum \n49.46 \n49.45 \n49.57 \n49.59 \nCorporates \n \n \n \n \nMinimum \n40.43 \n40.38 \n40.34 \n40.33 \nMaximum \n47.43 \n47.47.3939 \n46.82 \n46.50 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \nCommercial bank weighted lending rates (Foreign Currency (US$) (%) \nUS$ Lending rates \n30-Jan-2026 \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \nIndividuals \n \n \n \n \nMinimum \n13.56 \n14.07 \n13.58 \n13.54 \nMaximum \n18.64 \n17.37 \n18.64 \n18.62 \nCorporates \n \n \n \n \nMinimum \n10.27 \n10.27 \n10.35 \n10.33 \nMaximum \n15.73 \n15.75 \n15.72 \n15.71 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \nCommercial banks and building societies mortgage lending rates (%) \nMortgage Lending \nrates \n30-Jan-2026 \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \nZiG Lending rates \n \n \n \n \nMinimum \n25.00 \n25.00 \n25.00 \n25.00 \nMaximum \n50.00 \n50.00 \n50.00 \n50.00 \nUS$ Lending rates \n \n \n \n \nMinimum \n10.00 \n10.00 \n10.00 \n10.00 \nMaximum \n18.00 \n18.00 \n18.00 \n18.00 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \nEQUITY MARKETS \n \nZSE Indicators \n \n \nAll \nShare \nIndex \n(points) \nTop 10 \nIndex \n(points) \nTop 15 \nIndex \n(points) \nMedium \nCap (points) \nSmall Cap \n(points) \nMining \nIndex \n(points) \nGrand \nMarket \nCap (ZiG \nbillion) \nMarket \nTurnover \n(ZiG \nmillion) \nVolume of \nShares \n(million) \n30-Jan 26 \n356.04 \n366.68 \n379.65 \n325.78 \n100.11 \n122.53 \n110.65 \n116.45 \n173.55 \n06-Feb 26 \n360.71 \n372.71 \n386.51 \n323.84 \n100.11 \n122.53 \n112.39 \n98.21 \n 31.45 \n13-Feb 26 \n364.36 \n375.12 \n389.00 \n333.99 \n100.11 \n122.53 \n113.29 \n701.15 \n 65.13 \n20-Feb 26 \n360.19 \n372.12 \n385.66 \n333.47 \n100.11 \n122.53 \n111.66 \n1,008.82 \n 79.07 \nWeekly \nChange (%) \n(1,14) \n(0,80) \n(0,86) \n(0,16) \n0,00 \n0,00 \n(1,44) \n43,88 \n21.40 \nSource: Zimbabwe Stock Exchange, 2026 \n \nVFEX Indicators \nDate \n \nAll Share Index \nPoints \nGrand Market Capitalisation \n(US$ billion) \nMarket Turnover (US$ \nmillion) \nVolume of Shares (million) \n30-Jan-26 \n211.36 \n2.50 \n2.19 \n4.44 \n06-Feb-26 \n207.33 \n2.44 \n0.73 \n16.78 \n13-Feb-26 \n217.58 \n2.56 \n2.88 \n3.97 \n20-Feb-26 \n208.59 \n2.47 \n1.56 \n2.53 \nWeekly Change (%) \n(4,13) \n(3,52) \n(45,83) \n(36,27) \nSource: Victoria Falls Stock Exchange, 2026 \n \n \n \n \n \n4 \nFigure 1: ZSE and VFEX Indicators \n \n \n \n \n \n \nSource: Zimbabwe Stock Exchange and Victoria Falls Stock Exchange, 2026 \n \n \n1.8\n1.9\n2\n2.1\n2.2\n2.3\n2.4\n2.5\n2.6\n2.7\n2.8\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\nUS$ Billion\nVFEX Market Capitalisation \n150\n155\n160\n165\n170\n175\n180\n185\n190\n195\n200\n205\n210\n215\n220\n225\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\nIndex\nVFEX All Share Index \n0\n500\n1000\n1500\n2000\n2500\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\nUS$ Thousand\nVFEX Market Turnover \n55\n60\n65\n70\n75\n80\n85\n90\n95\n100\n105\n110\n115\n120\n125\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\nZiG Billion\nZSE Market Capitalisation \n90\n140\n190\n240\n290\n340\n390\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\nIndices\nZSE Indices \nAll Share Index (ZSE)\nTop 10 Index\nMining Index\n0\n100,000\n200,000\n300,000\n400,000\n500,000\n600,000\n700,000\n800,000\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\nZiG Thousands\nZSE Market Turnover \nNotable trade deals: A combined total\nof\n60.54\nmillion\nEconet\nWireless\nZimbabwe Limited shares at an average\nprice ZiG903.63 cents/share.\nNotable\ntrade\ndeals:\nA\ncombined\n53.03\nmillion Econet Wireless Zimbabwe Limited\nshares at\nan average\nprice of ZiG908.67\ncents/share and 2.51 million NMBZ Holdings\nLimited shares at ZiG500.05 cents/share.\n \n \n5 \n3. CLEARING AND SETTLEMENT ACTIVITY \n Source: Reserve Bank of Zimbabwe, 2026 \n \n4. ENERGY PRICES \n \nEnergy Prices \n \n30-Jan-2026 \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \nDomestic Energy Prices \nUS$ \nUS$ \nUS$ \nUS$ \nDiesel 50/ litre \n1.52 \n1.52 \n1.52 \n1.52 \nPetrol Blend E5/ litre \n1.57 \n1.57 \n1.56 \n1.56 \nLP Gas / kg \n1.51 \n1.51 \n1.55 \n1.55 \n \n \n \n \n \nInternational Energy Prices \n(Weekly average) \nUS$/barrel \nUS$/barrel \nUS$/barrel \nUS$/barrel \nCrude Oil Prices \n(US$/barrel) \n67.26 \n67.42 \n68.36 \n69.60 \n Source: Zimbabwe Energy Regulatory Authority and BBC 2026 \n \n5. GOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND GOLD BACKED DIGITAL TOKENS \n(GBDT) \n \nGold PM Fix and Gold Backed Digital Token Prices \nDate \nGold PM Fix \nGBDT ZiG Price per Mg \nGBDT US$ Price per Mg \nUS$/oz \nBuy \nSell \nBuy \nSell \n16-Feb-26 \n4,994.95 \n3.90 \n4.31 \n0.1526 \n0.1686 \n17-Feb-26 \n4,972.10 \n3.89 \n4.30 \n0.1519 \n0.1678 \n18-Feb-26 \n4,861.45 \n3.80 \n4.20 \n0.1485 \n0.1641 \n19-Feb-26 \n5,003.30 \n3.91 \n4.32 \n0.1528 \n0.1689 \n20-Feb-26 \n5,004.80 \n3.90 \n4.31 \n0.1529 \n0.1690 \nSource: London Bullion Market Association and Reserve Bank of Zimbabwe, 2026 \n \n \n \nPAYMENT STREAM \nWEEK ENDING \n13 February 2026 \nWEEK ENDING \n20 February 2026 \nWEEKLY \nCHANGE (%) \n \nVALUES \n \nRTGS \n26,181,572,531.75 \n32,236,184,487.45 \n23.13 \nOf which ZiG \n7,778,726,455.91 \n11,805,509,212.40 \n51.77 \nOf which US$ transactions \n(ZiG Equivalent) \n18,402,846,075.84 \n \n20,430,675,275.05 \n \n11.02 \nPOS \n1,834,757,424.68 \n1,291,817,512.69 \n(29.59) \nATM \n1,837,374,703.65 \n1,024,740,319.33 \n(44.23) \nMOBILE BANKING \n253,651,732.86 \n180,699,762.00 \n(28.76) \nMOBILE MONEY \n4,452,360,090.72 \n4,139,438,198.77 \n(7.03) \nZIPIT MOBILE \n278,199,008.26 \n181,418,156.87 \n(34.79) \nTOTAL \n34,837,915,491.92 \n39,054,298,437.11 \n12.10 \n \nVOLUMES \n \nRTGS \n166,610 \n166,758 \n0.09 \nOf which ZiG \n59,335 \n53,958 \n(9.06) \nOf which US$ \n107,275 \n112,800 \n5.15 \nPOS \n1,435,082 \n1,176,187 \n(18.04) \nATM \n199,301 \n131,903 \n(33.82) \nMOBILE BANKING \n240,012 \n217,507 \n(9.38) \nMOBILE MONEY \n14,567,092 \n14,375,620 \n(1.31) \nZIPIT MOBILE \n258,699 \n201,675 \n(22.04) \nTOTAL \n16,866,796 \n16,269,650 \n(3.54) \n \n \n6 \nMosi-oa-Tunya Gold Coin Prices \nGold Coin \nPrice \n16-Feb-2026 \n17-Feb-2026 \n18-Feb-2026 \n19-Feb-2026 \n20-Feb-2026 \n1.00Oz \n \n \n \n \n \nUS$ \n5,244.70 \n5,220.71 \n5,104.52 \n5,253.47 \n5,255.04 \nZiG \n134,091.18 \n133,597.84 \n130,693.64 \n134,353.69 \n134,205.31 \n0.50Oz \n \n \n \n \n \nUS$ \n2,622.35 \n2,610.35 \n2,552.26 \n2,626.73 \n2,627.52 \nZiG \n67,045.59 \n66,798.92 \n65,346.82 \n67,176.84 \n67,102.66 \n0.25Oz \n \n \n \n \n \nUS$ \n1,311.17 \n1,305.18 \n1,276.13 \n1,313.37 \n1,313.76 \nZiG \n33,522.80 \n33,399.46 \n32,673.41 \n33,588.42 \n33,551.33 \n0.10Oz \n \n \n \n \n \nUS$ \n524.47 \n522.07 \n510.45 \n525.35 \n525.50 \nZiG \n13,409.12 \n13,359.78 \n13,069.36 \n13,435.37 \n13,420.53 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \n6. EXTERNAL SECTOR \n \nExchange Rate Developments (ZiG per Unit of Foreign Currency) \n \n \nUSD \nZAR \nGBP \nBWP \nEURO \nWeekly Average \n(09 Feb – 13 Feb) \n25.5688 \n1.6043 \n34.8710 \n1.8808 \n30.3641 \n16-Feb-26 \n25.5670 \n1.6044 \n34.8659 \n1.8655 \n30.3289 \n17-Feb-26 \n25.5900 \n1.5957 \n34.8192 \n1.8658 \n30.2973 \n18-Feb-26 \n25.6035 \n1.5987 \n34.7096 \n1.9523 \n30.3236 \n19-Feb-26 \n25.5743 \n1.5891 \n34.4819 \n1.8647 \n30.1483 \n20-Feb-26 \n25.5384 \n1.5785 \n34.3288 \n1.8595 \n30.0192 \nWeekly Average \n(16 Feb – 20 Feb) \n \n25.5746 \n \n1.5933 \n \n34.6411 \n \n1.8816 \n \n30.2235 \n \nAppr (-)/Depr (+) (%) of the \nZiG \n+0.02 \n-0.69 \n-0.66 \n+0.04 \n-0.46 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \nInternational Commodity Prices \n \nGold \nPlatinum \nPalladium \nNickel \nLithium \n \nUS$/oz \nUS$/ounce \nUS$/ounce \nUS$/tonne \nUS$/tonne \nWeekly Average \n(09 Feb – 13 Feb) \n5,017.92 \n2,085.40 \n1,704.40 \n17,426.20 \n16,672.00 \n16-Feb-26 \n4,900.50 \n1,988.00 \n1,676.00 \n17,115.00 \n17,115.00 \n17-Feb-26 \n4,937.50 \n2,054.00 \n1,724.00 \n16,861.00 \n16,861.00 \n18-Feb-26 \n4,990.70 \n2,075.00 \n1,717.00 \n17,275.00 \n17,275.00 \n19-Feb-26 \n5,001.70 \n2,073.00 \n1,684.00 \n17,287.00 \n17,287.00 \n20-Feb-26 \n5,158.70 \n2,163.00 \n1,750.00 \n17,350.00 \n17,350.00 \nWeekly Average \n(16 Feb – 20 Feb) \n4,997.82 \n2,070.60 \n1,710.20 \n17,177.60 \n16,798.00 \nWeekly change (%) \n(0.40) \n(0.71) \n0.34 \n(1.43) \n0.76 \nSource: BBC, KITCO and Bloomberg, 2026 \n \n \n \n \n7 \nFigure 3: Average Weekly International Commodity Price Developments (31st October 2025– 20th February 2026) \n \n \n \n \n \nSource: BBC, KITCO and Bloomberg, 2026 \n \nRESERVE BANK OF ZIMBABWE \nFEBRUARY 2026 \n3,700\n3,900\n4,100\n4,300\n4,500\n4,700\n4,900\n5,100\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\nUS$/oz\nGold\n60\n61\n62\n63\n64\n65\n66\n67\n68\n69\n70\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\nUS$/oz\nCrude Oil \n1300\n1500\n1700\n1900\n2100\n2300\n2500\n2700\n2900\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\nUS$/oz\nPlatinum\n1100\n1300\n1500\n1700\n1900\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\nUS$/oz\nPalladium\n14,300\n14,800\n15,300\n15,800\n16,300\n16,800\n17,300\n17,800\n18,300\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\nUS$/oz\nNickel \n9,000\n11,000\n13,000\n15,000\n17,000\n19,000\n21,000\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\nUS$/oz\nLithium", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/Weekly_Economic_Highlights/Weekly_Economic_Higlights_for_Week_Ending_20_February_2026_Volume_28_Number_8_1.pdf"} |