| {"doc_id": "0855ee41676b9160ce1bb5562002014d", "text": "Vol. 26 No. 27 \n \n \nWeek Ending \n5th July 2024 \nWeekly Economic \nHighlights \nTABLE OF CONTENTS \n \n1. \nOVERVIEW ............................................................................ 1 \n2. \nINTEREST RATES ................................................................ 1 \n3. \nEQUITY MARKETS .............................................................. 3 \n4. \nCLEARING AND SETTLEMENT ACTIVITY .................. 5 \n5. \nPRICES .................................................................................... 5 \n6. \nGOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND \nGOLD BACKED DIGITAL TOKENS (GBDT) .................. 5 \n7. \nEXTERNAL SECTOR ........................................................... 6 \n8. \nTOBACCO SALES ................................................................. 8 \n \n \n \n 1 \n1. OVERVIEW \n \n \n \nThis report provides an overview of weekly monetary and financial developments from domestic and \ninternational markets for the week ending 5th July 2024. \nDuring the week under review, local currency minimum and maximum deposit rates for savings \ndeposits remained unchanged at the previous week’s level. Minimum and maximum deposit rates for \ndeposits of 1 month, 3 months, 6 months, and over a year tenor registered a decline. Maximum deposit \nrates for deposits of 1 month tenor were higher while those for 1 month, 3 months, 6 months, 12 \nmonths, and over a year tenor were lower during the same week. Foreign currency deposit rates for \nall deposit classes remained unchanged at the previous week’s levels. \nMinimum and maximum local currency lending rates for commercial and individual clients registered \na decline from the previous week’s levels. Foreign currency lending rates for individuals softened \nwhile those for corporate clients increased during the same week. \nThe local currency and foreign currency-denominated stock markets were bullish. The Zimbabwe \nStock Exchange (ZSE) All Share Indices gained 14.45% to close the week at 147.23 points. Similarly, \nthe Victoria Falls Stock Exchange (VFEX) stock market, All Share Indices, increased by 2.16% to \nclose the week at 105.97 points, respectively. \nThe National Payment System processed transactions amounted to ZiG16.82 billion during the week \nunder review, representing a 7.46% decrease, from the ZiG18.18 billion recorded in the previous \nweek. This was on account of a 17.22% decline in RTGS transactions to close at ZiG13.02 billion \nduring the reporting week. \nOn the local foreign exchange market, the ZiG/US$ exchange rate registered a marginal depreciation \nof 0.6% from a weekly average of ZiG13.6327 per US$ registered in the prior week to ZiG13.7138 \nper US$ during the reporting week. \nAverage international weekly commodity prices for gold, palladium, crude oil, and nickel increased \nduring the week under review. Prices for platinum and lithium decreased during the same week. \nA cumulative total of 219 million kilograms of tobacco was sold as at 5th of July 2024, representing a \n22.86% decline from 283 million kilograms sold during the same period in 2023. The golden leaf was \nsold at a higher price of US$3.44 per kilogram during the period under analysis, up from US$3.02 per \nkilogram realised in the same period last year. \n \n \n \n 2 \n2. INTEREST RATES \n \nAverage commercial bank deposit rates (Local Currency (ZiG) \nZiG Deposit rates \n14 June 2024 \n21 June 2024 \n28 June 2024 \n05 July 2024 \nSavings \n \n \n \n \nMinimum \n3.75 \n3.75 \n3.75 \n3.75 \nMaximum \n3.88 \n3.88 \n3.88 \n3.88 \n1-month deposit \n \n \n \n \nMinimum \n5.19 \n5.19 \n5.21 \n5.19 \nMaximum \n5.58 \n5.58 \n5.69 \n5.80 \n3-month deposit \n \n \n \n \nMinimum \n5.26 \n5.26 \n5.27 \n5.26 \nMaximum \n5.83 \n5.83 \n5.94 \n5.82 \n6-month deposit \n \n \n \n \nMinimum \n5.33 \n5.33 \n5.34 \n5.33 \nMaximum \n5.94 \n5.94 \n6.07 \n5.94 \n12-Month deposit \n \n \n \n \nMinimum \n5.36 \n5.36 \n5.36 \n5.36 \nMaximum \n6.03 \n6.03 \n6.16 \n6.03 \nOver 1 year \n \n \n \n \nMinimum \n5.37 \n5.37 \n5.37 \n5.37 \nMaximum \n6.10 \n6.10 \n6.23 \n6.10 \nSource: Reserve Bank of Zimbabwe, 2024 \n \nAverage commercial bank deposit rates (Foreign Currency (US$) \nUS$ Deposit rates \n14 June 2024 \n21 June 2024 \n28 June 2024 \n05 July 2024 \nSavings \n \n \n \n \nMinimum \n1.53 \n1.53 \n1.53 \n1.53 \nMaximum \n1.86 \n1.86 \n1.86 \n1.86 \n1-month deposit \n \n \n \n \nMinimum \n3.28 \n3.28 \n3.28 \n3.28 \nMaximum \n5.07 \n5.07 \n5.07 \n5.07 \n3-month deposit \n \n \n \n \nMinimum \n3.88 \n3.88 \n3.88 \n3.88 \nMaximum \n5.36 \n5.36 \n5.36 \n5.80 \n6-month deposit \n \n \n \n \nMinimum \n4.03 \n4.03 \n4.03 \n4.03 \nMaximum \n5.86 \n5.86 \n6.25 \n6.25 \n12-Month deposit \n \n \n \n \nMinimum \n4.19 \n4.19 \n4.19 \n4.19 \nMaximum \n6.55 \n6.55 \n6.55 \n6.55 \nOver 1 year \n \n \n \n \nMinimum \n4.41 \n4.41 \n4.41 \n4.41 \nMaximum \n6.55 \n6.55 \n6.55 \n6.55 \nSource: Reserve Bank of Zimbabwe, 2024 \n \n \n \n \n \n \n \n \n 3 \nCommercial bank weighted lending rates (Local Currency (ZiG) \nZiG Lending rates \n14 June 2024 \n21 June 2024 \n28 June 2024 \n05 July 2024 \nIndividuals \n \n \n \n \nMinimum \n24.45 \n25.02 \n24.89 \n24.83 \nMaximum \n31.27 \n31.15 \n31.19 \n31.03 \nCorporates \n \n \n \n \nMinimum \n24.49 \n24.49 \n24.46 \n24.43 \nMaximum \n32.82 \n32.58 \n33.04 \n32.90 \nSource: Reserve Bank of Zimbabwe, 2024 \n \nCommercial bank weighted lending rates (Foreign Currency (US$) \nUS$ Lending rates \n14 June 2024 \n21 June 2024 \n28 June 2024 \n05 July 2024 \nIndividuals \n \n \n \n \nMinimum \n10.48 \n10.92 \n10.86 \n10.93 \nMaximum \n14.74 \n14.97 \n14.96 \n14.99 \nCorporates \n \n \n \n \nMinimum \n8.95 \n9.63 \n9.72 \n9.60 \nMaximum \n14.60 \n15.51 \n15.53 \n15.38 \nSource: Reserve Bank of Zimbabwe, 2024 \n \nCommercial banks and building societies mortgage lending rates \nMortgage Lending rates \n14 June 2024 \n21 June 2024 \n28 June 2024 \n05 July 2024 \nZiG Lending rates \n \n \n \n \nMinimum \n20.00 \n20.00 \n20.00 \n20.00 \nMaximum \n30.00 \n30.00 \n35.00 \n30.00 \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, 2024 \n \n3. EQUITY MARKETS \n \n \nZSE Indicators \n \n \nAll \nShare \nIndex \n(points) \n \nTop 10 \nindex \n(points) \nTop 15 \nIndex \n(points) \nMedium Cap \n(points) \nSmall Cap \n(points) \nMining \nIndex \n(points) \nGrand \nMarket \nCap (ZiG \nbillion) \nMarket \nTurnover \n(ZiG \nmillion) \nVolume of \nShares \n(million) \n14-June-24 \n110.70 \n114.62 \n113.92 \n109.53 \n100.00 \n114.07 \n32.35 \n23.65 \n38.17 \n21-June-24 \n115.11 \n120.19 \n118.78 \n110.82 \n100.00 \n114.07 \n34.49 \n22.48 \n45.09 \n28-June-24 \n128.64 \n135.92 \n133.71 \n115.80 \n100.09 \n114.16 \n38.71 \n41.20 \n91.66 \n5-July-24 \n147.23 \n155.71 \n152.13 \n128.34 \n100.84 \n149.92 \n44.94 \n48.60 \n12.01 \nWeekly \nChange (%) \n14.45 \n14.56 \n13.78 \n10.83 \n0.75 \n31.32 \n16.09 \n17.96 \n-86.90 \nSource: Zimbabwe Stock Exchange, 2024 \n \n \n \nVFEX Indicators \nDate \nAll Share Index \nPoints \nGrand Market Capitalisation \n(US$ billion) \nMarket Turnover \n(US$ million) \nVolume of Shares \n(million) \n14-June-24 \n102.22 \n1.23 \n0.73 \n4.19 \n21-June-24 \n101.58 \n1.23 \n0.78 \n6.70 \n28-June-24 \n103.73 \n1.25 \n0.44 \n1.40 \n05-July-24 \n105.97 \n1.28 \n1.54 \n88.99 \nWeekly Change (%) \n2.16 \n2.40 \n250.00 \n6,243.19 \nSource: Victoria Falls Stock Exchange, 2024 \n \n \n \n \n 4 \nFigure 1: ZSE and VFEX Indicators \n \n \n \n \n \n \nSource: Zimbabwe Stock Exchange and Victoria Falls Stock Exchange, 2024 \n \n \n \n \n \n \n \n \n \n \n \n \n90\n100\n110\n120\n130\n140\n150\n160\n17-May-24\n24-May-24\n31-May-24\n07-Jun-24\n14-Jun-24\n21-Jun-24\n28-Jun-24\n05-Jul-24\nIndices\nZSE Indices \nAll Share Index (ZSE)\nTop 10 Index\nMining Index\n0\n2,000\n4,000\n6,000\n8,000\n10,000\n12,000\n14,000\n16,000\n10-May-24\n17-May-24\n24-May-24\n31-May-24\n07-Jun-24\n14-Jun-24\n21-Jun-24\n28-Jun-24\n05-Jul-24\nZiG Thousands\nZSE Market Turnover \n25\n30\n35\n40\n10-May-24\n17-May-24\n24-May-24\n31-May-24\n07-Jun-24\n14-Jun-24\n21-Jun-24\n28-Jun-24\n05-Jul-24\nZiG Billion\nZSE Market Capitalisation \n80\n90\n100\n110\n120\n10-May-24\n17-May-24\n24-May-24\n31-May-24\n07-Jun-24\n14-Jun-24\n21-Jun-24\n28-Jun-24\n05-Jul-24\nUS$ Bililon\nVFEX All Share Index \n0.8\n0.9\n1\n1.1\n1.2\n1.3\n1.4\n1.5\n1.6\n08-Mar-24\n15-Mar-24\n22-Mar-24\n29-Mar-24\n05-Apr-24\n12-Apr-24\n19-Apr-24\n26-Apr-24\n03-May-24\n10-May-24\n17-May-24\n24-May-24\n31-May-24\n07-Jun-24\n14-Jun-24\n21-Jun-24\n28-Jun-24\n05-Jul-24\nUS$ Billion\nVFEX Market Capitalisation \n0\n200\n400\n600\n800\n1000\n15-Mar-24\n22-Mar-24\n29-Mar-24\n05-Apr-24\n12-Apr-24\n19-Apr-24\n26-Apr-24\n03-May-24\n10-May-24\n17-May-24\n24-May-24\n31-May-24\n07-Jun-24\n14-Jun-24\n21-Jun-24\n28-Jun-24\n05-Jul-24\nUS$ Thousand\nVFEX Market Turnover \n \n 5 \n4. CLEARING AND SETTLEMENT ACTIVITY \n Source: Reserve Bank of Zimbabwe, 2024 \n5. PRICES \n \nEnergy Prices \n \n 14 June 2024 \n 21 June 2024 \n 28 June 2024 \n 5 July 2024 \nDomestic Energy Prices \nUS$ \nUS$ \nUS$ \nUS$ \nDiesel 50/ litre \n1.61 \n1.69 \n1.61 \n1.62 \nPetrol Blend E20/ litre \n1.59 \n1.59 \n1.59 \n1.59 \nLP Gas / kg \n1.78 \n1.78 \n1.78 \n1.78 \n \n \n \n \n \nInternational Energy Prices \n(Weekly average) \nUS$/barrel \nUS$/barrel \nUS$/barrel \nUS$/barrel \nCrude Oil Prices \n82.25 \n85.12 \n85.36 \n87.57 \n Source: Zimbabwe Energy Regulatory Authority and BBC 2024 \n \n6. GOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND GOLD BACKED DIGITAL TOKENS \n(GBDT) \n \n \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$/oz \nBuy \nSell \nBuy \nSell \n1-July-24 \n 2,329.10 \n0.98 \n1.08 \n0.0712 \n0.0787 \n2-July-24 \n 2,331.75 \n0.97 \n1.08 \n0.0711 \n0.0786 \n3-July-24 \n 2,361.35 \n0.98 \n1.08 \n0.0712 \n0.0787 \n4-July-24 \n 2,358.65 \n0.99 \n1.10 \n0.0721 \n0.0797 \n5-July-24 \n 2,379.05 \n0.99 \n1.09 \n0.0720 \n0.0796 \nSource: London Bullion Market Association and Reserve Bank of Zimbabwe, 2024 \n \n \n \n \n \n \n \n \nPAYMENT STREAM \nWEEK ENDING \n28 June 2024 \nWEEK ENDING \n5 July 2024 \nWEEKLY \nCHANGE (%) \n \nVALUES IN ZiG \n \nRTGS \n15,734,726,830.31 \n13,024,501,696.95 \n-17.22% \nOf which ZiG \n 5,919,926,442.49 \n 4,878,492,538.21 \n \nOf which US$ \n 720,305,190.29 \n 594,145,084.67 \n \nPOS \n 445,716,158.98 \n 598,141,543.44 \n34.20% \nATM \n 942,509,977.19 \n 1,430,143,521.62 \n51.74% \nMOBILE BANKING \n 68,292,708.87 \n 75,191,768.92 \n10.10% \nMOBILE MONEY \n 916,293,427.91 \n 1,587,274,121.33 \n73.23% \nZIPIT MOBILE \n69,160,423.70 \n 105,555,415.64 \n52.62% \nTOTAL \n18,176,699,526.96 \n 16,820,808,067.89 \n-7.46% \n \nVOLUMES \n \nRTGS \n 366,818 \n 230,457 \n-37.17% \nOf which ZiG \n 184,548 \n 109,269 \n \nOf which US$ \n 182,270 \n 121,188 \n \nPOS \n 1,979,196 \n 2,449,265 \n23.751% \nATM \n 261,137 \n 331,751 \n27.04% \nMOBILE BANKING \n 323,249 \n 352,941 \n9.19% \nMOBILE MONEY \n 7,598,165 \n 8,330,654 \n9.64% \nZIPIT MOBILE \n 177,420 \n 231,068 \n30.24% \nTOTAL \n 10,705,985 \n 11,926,136 \n11.40% \n \n 6 \nMosi-oa-Tunya Gold Coin Prices \nGold Coin Price \n1 July 2024 \n2 July2024 \n3 July 2024 \n4 July 2024 \n5 July 2024 \n1.00Oz \n \n \n \n \n \nUS$ \n2,447.45 \n2,445.56 \n2,448.34 \n2,479.42 \n2,476.58 \nZiG \n33,536.36 \n33,483.81 \n33,538.31 \n34,121.25 \n33,915.81 \n0.50Oz \n \n \n \n \n \nUS$ \n1,223.72 \n1,222.78 \n1,224.17 \n1,239.71 \n1,238.29 \nZiG \n16,768.18 \n16,741.90 \n16,769.15 \n17,060.62 \n16,957.90 \n0.25Oz \n \n \n \n \n \nUS$ \n611.86 \n611.39 \n612.08 \n619.85 \n619.15 \nZiG \n8,384.09 \n8,370.95 \n8,384.58 \n8,530.31 \n8,478.95 \n0.10Oz \n \n \n \n \n \nUS$ \n244.74 \n244.56 \n244.83 \n247.94 \n247.66 \nZiG \n3,353.64 \n3,348.38 \n3,353.83 \n3,412.12 \n3,391.58 \nSource: Reserve Bank of Zimbabwe, 2024 \n \n7. EXTERNAL SECTOR \n \n \nExchange Rate Developments (ZiG per Unit of foreign currency) \n \nUSD \nZAR \nGBP \nBWP \nEURO \nWeekly Average \n(24 – 28 June) \n13.6327 \n0.7489 \n17.2569 \n1.0049 \n14.5953 \n1-July \n13.7026 \n0.7580 \n17.3531 \n1.0099 \n14.7427 \n2-July \n13.6917 \n0.7441 \n17.3002 \n1.0057 \n14.6898 \n3-July \n13.6984 \n0.7357 \n17.3717 \n1.0056 \n14.7108 \n4-July \n13.7816 \n0.7460 \n17.5360 \n1.0087 \n14.8463 \n5-July \n13.6946 \n0.7502 \n17.4833 \n1.0066 \n14.8196 \nWeekly Average \n(1 – 5 July) \n13.7138 \n0.7468 \n17.4089 \n1.0073 \n14.7618 \nAppr (-)/Depr (+) (%) \n0.6 \n(0.3) \n0.9 \n0.2 \n1.1 \nSource: Reserve Bank of Zimbabwe, 2024 \n \nInternational Commodity Price Developments \n \nPlatinum \nPalladium \nNickel \nLithium \nCrude Oil \n2024 \nUS$/ounce \nUS$/ounce \nUS$/tonne \nUS$/tonne \nUS$/barrel \nWeekly Average \n (24-28 June) \n1,001.90 \n958.10 \n17,188.40 \n13,376.00 \n85.36 \n1-July \n988.50 \n986.50 \n17,357.00 \n12,930.00 \n88.81 \n2-July \n989.00 \n996.00 \n17,004.00 \n12,720.00 \n88.66 \n3-July \n1,002.00 \n1,038.00 \n17,323.00 \n12,510.00 \n86.84 \n4-July \n1,012.00 \n1,023.50 \n17,217.00 \n12,360.00 \n87.12 \n5-July \n1,016.00 \n1,030.50 \n17,341.00 \n12,190.00 \n86.41 \nWeekly Average \n (1-5 July) \n1,001.50 \n1,014.90 \n17,248.40 \n12,542.00 \n87.57 \nSource: BBC, KITCO and Bloomberg, 2024 \n \n \n \n \n \n \n \n \n \n \n \n 7 \nFigure 3: Weekly Precious Metals Price Developments (1st – 5th July 2024) \n \n \n \n \n \n \nSource: BBC, KITCO and Bloomberg, 2024 \n \n \n \n \n \n \n16,900\n17,000\n17,100\n17,200\n17,300\n17,400\n1-Jul\n2-Jul\n3-Jul\n4-Jul\n5-Jul\nUS$/tonne\nNickel\n12,000\n12,200\n12,400\n12,600\n12,800\n13,000\n1-Jul\n2-Jul\n3-Jul\n4-Jul\n5-Jul\nUS$/tonne\nLithium \n980\n990\n1,000\n1,010\n1,020\n1-Jul\n2-Jul\n3-Jul\n4-Jul\n5-Jul\nUS$/tonne\nPlatinum\n985\n995\n1,005\n1,015\n1,025\n1,035\n1,045\n1-Jul\n2-Jul\n3-Jul\n4-Jul\n5-Jul\nUS$/tonne\nPalladium\n2,320\n2,335\n2,350\n2,365\n2,380\n1-Jul\n2-Jul\n3-Jul\n4-Jul\n5-Jul\nUS$/oz\nGold\n86\n87\n87\n88\n88\n89\n1-Jul\n2-Jul\n3-Jul\n4-Jul\n5-Jul\nUS$/barrel\nCrude oil \n \n 8 \n8. TOBACCO SALES \n \nWeekly Cumulative Tobacco Sales (5th July 2024) \n \n2023 \n2024 \nVariance (%) \nCumulative Quantity Sold (million kgs) \n283,408,421 \n218,632,317 \n (22.86) \nAverage Price (US$/kg) \n3.03 \n3.44 \n13.75 \nCumulative value (US$ million) \n857,822,841 \n752,766,485 \n(12.25) \nSource: Tobacco Industry and Marketing Board, 2024", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/Weekly_Economic_Highlights/WEEKLY_ECONOMIC_HIGHLIGHTS_5_JULY_2024_Volume_26_Number_27.pdf"} |