{"doc_id": "05f3f5905f16631797fd4b24c1ec0675", "text": "Vol. 28 No. 9 \n \nWeek Ending \n27th 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 a synopsis of the monetary and financial developments for the week ending 27th February \n2026. It includes updates on domestic money and capital markets, national payment systems, as well as \ninternational commodity prices and exchange rates. \nDomestic money market developments were mixed during the week under review. The local and foreign \ncurrency deposit rates remained unchanged across all tenors. Meanwhile, both the local currency and foreign \nlending rates for corporate clients increased, while lending rates for the individual clients declined. \nCapital markets also reflected mixed trends over the same period. The Zimbabwe Stock Exchange (ZSE) \ntraded negatively for the second consecutive week, declining by 0.30% to close at 359.11 points. In contrast, \nthe Victoria Falls Stock Exchange (VFEX) rebounded from the previous week’s losses, gaining 7.42% to close \nat 224.06 points during the week ending 27th February 2026. \nActivity in the National Payment Systems recorded an improvement during the week under review. The total \nvalue of transactions increased by 1.52% from ZiG39.05 billion recorded in the previous week to ZiG39.65 \nbillion. Similarly, the volume of transactions processed increased by 17.69% from 16.27 million to 19.15 \nmillion during the same period under review. The largest share of transactional values was processed through \nthe Real-Time Gross Settlement (RTGS) system, accounting for 77.24%, while mobile money accounted for \n84.38% of the transaction volumes. \nOn the interbank foreign currency exchange market, the Zimbabwe Gold currency (ZiG), depreciated by \n0.45%, from an average of ZiG25.57 per US$1 recorded in the prior week, to ZiG25.69 per US$1. \nThe international average prices for all the selected commodities increased. Gold, palladium and platinum \nprices increased mainly due to broader rally in mineral markets, supported by heightened geopolitical tensions \nin the Middle East, particularly involving the U.S./Israel and Iran, which boosted investor demand for safe \nhaven assets. Lithium prices also rose after Zimbabwe, one of the world’s major exporters of lithium, imposed \na ban on the export of raw minerals and lithium concentrates, tightening global supply. \n \n \n \n \n \n \n \n \n2 \n2. INTEREST RATES \n \nAverage commercial bank deposit rates (Local Currency (ZiG) (%) \nZiG Deposit rates \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \n27-Feb-2026 \nSavings \n \n \n \n \nMinimum \n3.81 \n3.81 \n3.81 \n3.81 \nMaximum \n4.14 \n4.14 \n4.14 \n4.14 \n1-month deposit \n \n \n \n \nMinimum \n6.49 \n6.49 \n6.69 \n6.69 \nMaximum \n11.02 \n11.02 \n11.22 \n11.22 \n3-months deposit \n \n \n \n \nMinimum \n6.62 \n6.62 \n6.87 \n6.87 \nMaximum \n10.51 \n10.51 \n10.76 \n10.76 \n6-months deposit \n \n \n \n \nMinimum \n6.64 \n6.64 \n6.93 \n6.93 \nMaximum \n10.53 \n10.53 \n10.82 \n10.82 \n12-months deposit \n \n \n \n \nMinimum \n6.66 \n6.66 \n6.99 \n6.99 \nMaximum \n11.24 \n11.24 \n11.58 \n11.58 \nOver 1 year \n \n \n \n \nMinimum \n6.67 \n6.67 \n7.00 \n7.00 \nMaximum \n11.25 \n11.25 \n11.58 \n11.58 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \nAverage commercial bank deposit rates (Foreign Currency (US$) (%) \nUS$ Deposit rates \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \n27-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 \n3.92 \n3.92 \nMaximum \n6.56 \n6.56 \n6.76 \n6.76 \n3-month deposit \n \n \n \n \nMinimum \n4.18 \n4.18 \n4.40 \n4.40 \nMaximum \n7.45 \n7.45 \n7.66 \n7.66 \n6-month deposit \n \n \n \n \nMinimum \n4.31 \n4.31 \n4.54 \n4.54 \nMaximum \n7.77 \n7.77 \n7.96 \n7.96 \n12-Month deposit \n \n \n \n \nMinimum \n4.61 \n4.61 \n4.83 \n4.83 \nMaximum \n8.17 \n8.17 \n8.36 \n8.36 \nOver 1 year \n \n \n \n \nMinimum \n4.72 \n4.72 \n4.92 \n4.92 \nMaximum \n8.34 \n8.34 \n8.50 \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 \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \n27-Feb-2026 \nIndividuals \n \n \n \n \nMinimum \n43.34 \n43.34 \n43.66 \n43.62 \nMaximum \n49.45 \n49.57 \n49.59 \n49.56 \nCorporates \n \n \n \n \nMinimum \n40.38 \n40.34 \n40.33 \n40.35 \nMaximum \n47.47.3939 \n46.82 \n46.50 \n46.58 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \nCommercial bank weighted lending rates (Foreign Currency (US$) (%) \nUS$ Lending rates \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \n27-Feb-2026 \nIndividuals \n \n \n \n \nMinimum \n14.07 \n13.58 \n13.54 \n13.49 \nMaximum \n17.37 \n18.64 \n18.62 \n18.58 \nCorporates \n \n \n \n \nMinimum \n10.27 \n10.35 \n10.33 \n10.34 \nMaximum \n15.75 \n15.72 \n15.71 \n15.77 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \nCommercial banks and building societies mortgage lending rates (%) \nMortgage Lending \nrates \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \n27-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 Share \nIndex \n(points) \nTop 10 \nIndex \n(points) \nTop 15 \nIndex \n(points) \nMedium Cap \n(points) \nSmall Cap \n(points) \nMining \nIndex \n(points) \nGrand \nMarket Cap \n(ZiG billion) \nMarket \nTurnover \n(ZiG million) \nVolume of \nShares \n(million) \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 \n27-Feb 26 \n359.11 \n367.23 \n381.71 \n350.51 \n100.11 \n122.53 \n111.90 \n 123.98 \n 9.63 \n \nWeekly \nChange (%) \n(0.30) \n(1.31) \n(1.02) \n5.11 \n0.00 \n0.00 \n0.21 \n(87.71) \n(87.82) \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) \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 \n27-Feb 26 \n224.06 \n2.66 \n5.58 \n9.61 \nWeekly Change (%) \n7.42 \n7.69 \n257.69 \n279.84 \nSource: Victoria Falls Stock Exchange, 2026 \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\n27-Feb-26\nUS$ Billion\nVFEX Market Capitalisation \n150\n155\n160\n165\n170\n175\n180\n185\n190\n195\n200\n205\n210\n215\n220\n225\n230\n235\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\n27-Feb-26\nIndex\nVFEX All Share Index \n0\n500\n1000\n1500\n2000\n2500\n3000\n3500\n4000\n4500\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\n27-Feb-26\nUS$ Thousand\nVFEX Market Turnover \nNotable trade deals: Padenga Holdings\nLimited,\nwhere\n6.03\nmillion\nshares\nexchanged hands at US$0.72 per share\n55\n60\n65\n70\n75\n80\n85\n90\n95\n100\n105\n110\n115\n120\n125\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\n27-Feb-26\nZiG Billion\nZSE Market Capitalisation \n90\n140\n190\n240\n290\n340\n390\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\n27-Feb-26\nIndices\nZSE Indices \nAll Share Index (ZSE)\nTop 10 Index\nMining Index\n0\n100,000\n200,000\n300,000\n400,000\n500,000\n600,000\n700,000\n800,000\n17-Oct-25\n24-Oct-25\n31-Oct-25\n07-Nov-25\n14-Nov-25\n21-Nov-25\n28-Nov-25\n05-Dec-25\n12-Dec-25\n19-Dec-25\n26-Dec-25\n02-Jan-26\n09-Jan-26\n16-Jan-26\n23-Jan-26\n30-Jan-26\n06-Feb-26\n13-Feb-26\n20-Feb-26\n27-Feb-26\nZiG Thousands\nZSE Market Turnover \nNotable trade deals: A combined total\nof\n60.54\nmillion\nEconet\nWireless\nZimbabwe Limited shares at an average\nprice ZiG903.63 cents/share.\nNotable\ntrade\ndeals:\nA\ncombined\n53.03\nmillion Econet Wireless Zimbabwe Limited\nshares at\nan average\nprice of ZiG908.67\ncents/share and 2.51 million NMBZ Holdings\nLimited shares at ZiG500.05 cents/share.\n \n \n5 \n3. CLEARING AND SETTLEMENT ACTIVITY \n Source: Reserve Bank of Zimbabwe, 2026 \n \n4. ENERGY PRICES \n \nEnergy Prices \n \n06-Feb-2026 \n13-Feb-2026 \n20-Feb-2026 \n27-Feb-2026 \nDomestic Energy Prices \nUS$ \nUS$ \nUS$ \nUS$ \nDiesel 50/ litre \n1.52 \n1.52 \n1.52 \n1.52 \nPetrol Blend E5/ litre \n1.57 \n1.56 \n1.56 \n1.56 \nLP Gas / kg \n1.51 \n1.55 \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$/barrel) \n67.42 \n68.36 \n69.60 \n72.30 \n Source: Zimbabwe Energy Regulatory Authority and BBC 2026 \n \n5. GOLD PM FIX, MOSI-OA-TUNYA GOLD COINS AND GOLD BACKED DIGITAL TOKENS \n(GBDT) \n \nGold PM Fix and Gold Backed Digital Token Prices \nDate \nGold PM Fix \nGBDT ZiG Price per Mg \nGBDT US$ Price per Mg \nUS$/oz \nBuy \nSell \nBuy \nSell \n23-Feb-26 \n5,053.20 \n3.95 \n4.36 \n0.1543 \n0.1706 \n24-Feb-26 \n5,191.40 \n4.08 \n4.51 \n0.1586 \n0.1753 \n25-Feb-26 \n5,120.25 \n4.02 \n4.44 \n0.1564 \n0.1729 \n26-Feb-26 \n5,191.55 \n4.07 \n4.50 \n0.1586 \n0.1753 \n27-Feb-26 \n5,167.35 \n4.07 \n4.50 \n0.1578 \n0.1744 \nSource: London Bullion Market Association and Reserve Bank of Zimbabwe, 2026 \n \n \n \nPAYMENT STREAM \nWEEK ENDING \n20 February 2026 \nWEEK ENDING \n27 February 2026 \nWEEKLY \nCHANGE (%) \n \nVALUES \n \nRTGS \n32,236,184,487.45 \n30,623,528,333.04 \n(5.00) \nOf which ZiG \n11,805,509,212.40 \n9,999,770,527.38 \n(15.30) \nOf which US$ transactions \n(ZiG Equivalent) \n20,430,675,275.05 \n \n20,623,757,805.66 \n0.95 \nPOS \n1,291,817,512.69 \n2,131,668,117.19 \n65.01 \nATM \n1,024,740,319.33 \n1,801,872,979.62 \n75.84 \nMOBILE BANKING \n180,699,762.00 \n360,497,378.05 \n99.50 \nMOBILE MONEY \n4,139,438,198.77 \n4,416,416,011.75 \n6.69 \nZIPIT MOBILE \n181,418,156.87 \n315,697,427.16 \n74.02 \nTOTAL \n39,054,298,437.11 \n39,649,680,246.82 \n1.52 \n \nVOLUMES \n \nRTGS \n166,758 \n322,654 \n93.49 \nOf which ZiG \n53,958 \n122,575 \n127.17 \nOf which US$ \n112,800 \n200,079 \n77.38 \nPOS \n1,176,187 \n1,749,550 \n48.75 \nATM \n131,903 \n241,775 \n83.30 \nMOBILE BANKING \n217,507 \n372,024 \n71.04 \nMOBILE MONEY \n14,375,620 \n16,155,777 \n12.38 \nZIPIT MOBILE \n201,675 \n305,641 \n51.55 \nTOTAL \n16,269,650 \n19,147,421 \n17.69 \n \n \n6 \nMosi-oa-Tunya Gold Coin Prices \nGold Coin \nPrice \n23-Feb-2026 \n24-Feb-2026 \n25-Feb-2026 \n26-Feb-2026 \n27-Feb-2026 \n1.00Oz \n \n \n \n \n \nUS$ \n5,305.86 \n5,450.97 \n5,376.26 \n5,451.13 \n5,425.72 \nZiG \n135,724.96 \n140,281.26 \n138,240.91 \n139,831.23 \n139,838.64 \n0.50Oz \n \n \n \n \n \nUS$ \n2,652.93 \n2,725.49 \n2,688.13 \n2,725.56 \n2,712.86 \nZiG \n67,862.48 \n70,140.63 \n69,120.46 \n69,915.62 \n69,919.32 \n0.25Oz \n \n \n \n \n \nUS$ \n1,326.47 \n1,362.74 \n1,344.07 \n1,362.78 \n1,356.43 \nZiG \n33,931.24 \n35,070.31 \n34,560.23 \n34,957.81 \n34,959.66 \n0.10Oz \n \n \n \n \n \nUS$ \n530.59 \n545.10 \n537.63 \n545.11 \n542.57 \nZiG \n13,572.50 \n14,028.13 \n13,824.09 \n13,983.12 \n13,983.86 \nSource: Reserve Bank of Zimbabwe, 2026 \n \n \n6. EXTERNAL SECTOR \n \n \nExchange Rate Developments (ZiG per Unit of Foreign Currency) \n \n \nUSD \nZAR \nGBP \nBWP \nEURO \nWeekly Average \n(16 Feb – 20 Feb) \n \n25.5746 \n \n1.5933 \n \n34.6411 \n \n1.8816 \n \n30.2235 \n23-Feb-26 \n25.5802 \n1.5952 \n34.5770 \n1.8652 \n30.2307 \n24-Feb-26 \n25.7351 \n1.6038 \n34.6936 \n1.8751 \n30.2903 \n25-Feb-26 \n25.7132 \n1.6134 \n34.7657 \n1.8735 \n30.3442 \n26-Feb-26 \n25.6518 \n1.6176 \n34.7751 \n1.8704 \n30.3179 \n27-Feb-26 \n25.7733 \n1.6202 \n34.7786 \n1.8805 \n30.4422 \nWeekly Average \n(23 Feb – 27 Feb) \n25.6907 \n1.6100 \n34.7180 \n1.8729 \n30.3251 \nAppr (-)/Depr (+) (%) of the \nZiG \n+0.45 \n+1.05 \n+0.22 \n-0.46 \n+0.34 \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$/tonne \nWeekly Average \n(16 Feb – 20 Feb) \n4,997.82 \n2,070.60 \n1,710.20 \n17,177.60 \n16,798.00 \n23-Feb-26 \n5,177.90 \n2,140.50 \n1,747.00 \n17,283.00 \n16,950.00 \n24-Feb-26 \n5,201.90 \n2,271.00 \n1,825.00 \n17,909.00 \n17,200.00 \n25-Feb-26 \n5,200.40 \n2,295.00 \n1,780.00 \n17,955.00 \n17,700.00 \n26-Feb-26 \n5,185.80 \n2,388.00 \n1,831.00 \n17,694.00 \n18,330.00 \n27-Feb-26 \n5,346.80 \n2,366.00 \n1,820.00 \n17,844.00 \n18,960.00 \nWeekly Average \n(23 Feb – 27 Feb) \n5,222.56 \n2,292.10 \n1,800.60 \n17,737.00 \n17,828.00 \nWeekly change (%) \n4.50 \n10.70 \n5.29 \n3.26 \n6.13 \nSource: BBC, KITCO and Bloomberg, 2026 \n \n \n \n \n7 \nFigure 3: Average Weekly International Commodity Price Developments (31st October 2025– 27th February 2026) \n \n \n \n \n \nSource: BBC, KITCO and Bloomberg, 2026 \n \nRESERVE BANK OF ZIMBABWE \nMARCH 2026 \n3,700\n3,900\n4,100\n4,300\n4,500\n4,700\n4,900\n5,100\n5,300\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\nUS$/oz\nGold\n60\n62\n64\n66\n68\n70\n72\n74\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\n27-Feb\nUS$/oz\nCrude Oil \n1300\n1500\n1700\n1900\n2100\n2300\n2500\n2700\n2900\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\nUS$/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\n27-Feb\nUS$/oz\nPalladium\n14,300\n14,800\n15,300\n15,800\n16,300\n16,800\n17,300\n17,800\n18,300\n31-Oct\n7-Nov\n14-Nov\n21-Nov\n28-Nov\n5-Dec\n12-Dec\n19-Dec\n26-Dec\n2-Jan\n9-Jan\n16-Jan\n23-Jan\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\nUS$/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\n27-Feb\nUS$/oz\nLithium", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/Weekly_Economic_Highlights/WEEKLY_ECONOMIC_HIGHLIGHTS_27_FEBRUARY_2026_VOLUME_28_NUMBER_9.pdf"}