{"doc_id": "01963ad8545a80ca8cee6ff9a2b17d71", "text": "Vol. 27 No. 16 \n \n \nWeek Ending \n17th April 2025 \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. \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 1 \n1. OVERVIEW \n \n \n \nThis report provides a concise overview of key developments in the domestic monetary and financial sectors \nduring the week ending 17th April 2025. It incorporates updates on money and capital markets, national \npayment systems, exchange rates, and international commodity prices. \nDuring the week under review, local currency minimum deposit rates for all tenors remained unchanged at \nprevious week levels. The maximum deposit rates for all tenors, however, increased during the same week, \nexcept for savings which were unchanged. Similarly, foreign currency deposit rates for most tenors remained \nunchanged, with the exception of maximum rates for 12-month tenor, which increased. \nLocal currency lending rates for both individual and corporate clients increased during the week ending 17th \nApril 2025. Similarly, foreign currency lending rates for both individual and corporate clients increased, \nexcept for minimum rates for corporates clients which decreased. \nDuring the week under review, both the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock \nExchange (VFEX) exhibited bearish trends. Resultantly, the ZSE and VFEX All Share indices lost 1.06% and \n0.93% to close at 198.29 points and 110.28 points, respectively. \nThe value of aggregate transactions processed through the National Payment Systems platforms rose by \n4.80%, to ZiG34.66 billion, from ZiG33.07 billion in the previous week. The increase in NPS transactions \nwas underpinned by processing through the RTGS and mobile banking payment platforms. \nThe Zimbabwe Gold (ZiG) marginally depreciated by 0.02%, from an average of ZiG26.80 per US$1 in the \nprevious week to ZiG26.81 per US$1, during the week under review. \nWeekly average international prices for precious metals, nickel and crude oil firmed, while lithium prices \nretreated during the review period. Rising tensions in the global trade war have prompted investors to flock to \nsafe-haven assets, resulting in a surge in gold prices due to heightened demand. Platinum and palladium prices \nincreased, driven by supply constraints stemming from power shortages in South Africa, one of the world’s \ntop producers of the metal. \nSimilarly, nickel prices increased on expectations of supply constraints, after Indonesia indicated potential \nproduction cuts. Brent crude oil prices increased, following the imposition of trade sanctions on Chinese firms \nengaged in Iranian oil transactions by the US, a move that reinforced supply-side constraints in global markets. \nLithium prices, however, continued on a downward trend, driven by expanded production incentives from \nChina, where government subsidise battery manufacturers, leading to a rise in supply. \nA cumulative total of 85.12 million kilograms of tobacco had been sold as at day 32 of the tobacco selling \nseason, a 10.69% decrease from the 95.31 million kilograms sold during the same period in 2024. In value \nterms, tobacco sales dropped by 14.32%, from US$340.84 million recorded in the same period in 2024 to \nUS$292.01 million, during the period under review. \n \n \n \n 2 \n2. INTEREST RATES \n \nAverage commercial bank deposit rates (Local Currency (ZiG) (%) \nZiG Deposit rates \n28 March 2025 \n04 April 2025 \n11 April 2025 \n17 April 2025 \nSavings \n \n \n \n \nMinimum \n3.81 \n3.81 \n3.81 \n3.81 \nMaximum \n4.14 \n4.14 \n4.14 \n4.14 \n1-month deposit \n \n \n \n \nMinimum \n5.66 \n5.66 \n5.66 \n5.66 \nMaximum \n8.66 \n8.66 \n8.33 \n8.66 \n3-months deposit \n \n \n \n \nMinimum \n5.95 \n5.95 \n5.95 \n5.95 \nMaximum \n8.87 \n8.15 \n8.87 \n8.93 \n6-months deposit \n \n \n \n \nMinimum \n5.56 \n5.56 \n5.56 \n5.56 \nMaximum \n7.76 \n7.76 \n7.76 \n8.23 \n12-months deposit \n \n \n \n \nMinimum \n5.57 \n5.57 \n5.57 \n5.57 \nMaximum \n7.77 \n8.04 \n7.77 \n8.24 \nOver 1 year \n \n \n \n \nMinimum \n5.58 \n5.58 \n5.58 \n5.58 \nMaximum \n7.78 \n7.78 \n7.78 \n8.25 \nSource: Reserve Bank of Zimbabwe, 2025 \n \n \nAverage commercial bank deposit rates (Foreign Currency (US$) (%) \nUS$ Deposit rates \n28 March 2025 \n04 April 2025 \n11 April 2025 \n17 April 2025 \nSavings \n \n \n \n \nMinimum \n1.67 \n1.67 \n1.67 \n1.67 \nMaximum \n1.86 \n1.86 \n1.86 \n1.86 \n1-month deposit \n \n \n \n \nMinimum \n3.72 \n3.72 \n3.72 \n3.72 \nMaximum \n5.72 \n5.72 \n5.67 \n5.67 \n3-month deposit \n \n \n \n \nMinimum \n4.38 \n4.38 \n4.38 \n4.38 \nMaximum \n6.53 \n6.53 \n6.53 \n6.53 \n6-month deposit \n \n \n \n \nMinimum \n4.18 \n4.18 \n4.18 \n4.18 \nMaximum \n6.71 \n6.71 \n6.71 \n6.71 \n12-Month deposit \n \n \n \n \nMinimum \n4.25 \n4.25 \n4.25 \n4.25 \nMaximum \n6.53 \n6.53 \n6.22 \n6.44 \nOver 1 year \n \n \n \n \nMinimum \n4.36 \n4.36 \n4.36 \n4.36 \nMaximum \n6.31 \n6.31 \n6.61 \n6.61 \nSource: Reserve Bank of Zimbabwe, 2025 \n \n \n \n \n \n \n \n 3 \nCommercial bank weighted lending rates (Local Currency (ZiG) (%) \nZiG Lending rates \n28 March 2025 \n04 April 2025 \n11 April 2025 \n17 April 2025 \nIndividuals \n \n \n \n \nMinimum \n42.33 \n42.28 \n42.20 \n42.79 \nMaximum \n47.97 \n47.91 \n47.83 \n48.42 \nCorporates \n \n \n \n \nMinimum \n40.42 \n40.45 \n40.47 \n40.64 \nMaximum \n46.11 \n45.99 \n46.02 \n46.89 \nSource: Reserve Bank of Zimbabwe, 2025 \n \n \nCommercial bank weighted lending rates (Foreign Currency (US$) (%) \nUS$ Lending rates \n28 March 2025 \n04 April 2025 \n11 April 2025 \n17 April 2025 \nIndividuals \n \n \n \n \nMinimum \n12.91 \n12.96 \n13.01 \n13.03 \nMaximum \n17.38 \n17.40 \n17.38 \n17.39 \nCorporates \n \n \n \n \nMinimum \n10.99 \n11.09 \n11.11 \n11.01 \nMaximum \n16.12 \n16.18 \n16.20 \n16.48 \nSource: Reserve Bank of Zimbabwe, 2025 \n \n \nCommercial banks and building societies mortgage lending rates (%) \nMortgage Lending rates \n28 March 2025 \n04 April 2025 \n11 April 2025 \n17 April 2025 \nZiG Lending rates \n \n \n \n \nMinimum \n25.00 \n25.00 \n25.00 \n25.00 \nMaximum \n45.00 \n50.00 \n50.00 \n50.00 \nUS$ Lending rates \n \n \n \n \nMinimum \n10.00 \n10.00 \n10.00 \n10.00 \nMaximum \n22.00 \n22.00 \n22.00 \n22.00 \nSource: Reserve Bank of Zimbabwe, 2025 \n \n \n3. EQUITY MARKETS \n \n \nZSE Indicators \n \n \nAll \nShare \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 \nbillion) \nMarket \nTurnover \n(ZiG \nmillion) \nVolume of \nShares \n(million) \n28-Mar-25 \n204.11 \n199.43 \n203.75 \n245.34 \n100.11 \n180.43 \n62.64 \n84.23 \n10.99 \n04-Apr-25 \n201.75 \n194.65 \n200.53 \n251.83 \n100.12 \n156.98 \n61.34 \n72.80 \n16.11 \n11-Apr-25 \n200.42 \n193.16 \n198.75 \n250.94 \n100.11 \n168.39 \n60.89 \n97.40 \n105.55 \n17-Apr-25 \n198.29 \n192.61 \n197.09 \n242.62 \n100.11 \n143.13 \n60.48 \n23.12 \n4.25 \nWeekly \nChange (%) \n(1.06) \n(0.28) \n(0.84) \n(3.32) \n0.00 \n(15.00) \n(0.67) \n(76.26) \n(95.97) \nSource: Zimbabwe Stock Exchange, 2025 \n \n \nVFEX Indicators \nDate \n \nAll Share Index \nPoints \nGrand Market Capitalisation \n(US$ billion) \nMarket Turnover (US$ \nmillion) \nVolume of Shares (million) \n28-Mar-25 \n108.40 \n1.26 \n0.62 \n6.81 \n04-Apr-25 \n106.95 \n1.25 \n1.06 \n5.26 \n11-Apr-25 \n111.31 \n1.30 \n0.78 \n8.31 \n17-Apr-25 \n110.28 \n1.29 \n0.70 \n3.90 \nWeekly Change (%) \n(0.93) \n(0.77) \n(10.26) \n(53.07) \nSource: Victoria Falls Stock Exchange, 2025 \n \n \n \n 4 \nFigure 1: ZSE and VFEX Indicators \n \n \n \n \n \n \n \nSource: Zimbabwe Stock Exchange and Victoria Falls Stock Exchange, 2025 \n \n \n \n40\n50\n60\n70\n80\n90\n100\n12-Dec-24\n19-Dec-24\n26-Dec-24\n02-Jan-25\n09-Jan-25\n16-Jan-25\n23-Jan-25\n30-Jan-25\n06-Feb-25\n13-Feb-25\n20-Feb-25\n27-Feb-25\n06-Mar-25\n13-Mar-25\n20-Mar-25\n27-Mar-25\n03-Apr-25\n10-Apr-25\n17-Apr-25\nZiG Billion\nZSE Market Capitalisation \n10\n5010\n10010\n15010\n20010\n25010\n30010\n35010\n40010\n45010\n12-Dec-24\n19-Dec-24\n26-Dec-24\n02-Jan-25\n09-Jan-25\n16-Jan-25\n23-Jan-25\n30-Jan-25\n06-Feb-25\n13-Feb-25\n20-Feb-25\n27-Feb-25\n06-Mar-25\n13-Mar-25\n20-Mar-25\n27-Mar-25\n03-Apr-25\n10-Apr-25\n17-Apr-25\nUS$ Thousand\nVFEX Market Turnover \nTrade\ndeal:\nFirst\nCapital\nBank\nLimited\n(1,134.27\nmillion\nshares\nsold\nat\n(US$0.04 cents per share)\n1.1\n1.15\n1.2\n1.25\n1.3\n1.35\n1.4\n12-Dec-24\n19-Dec-24\n26-Dec-24\n02-Jan-25\n09-Jan-25\n16-Jan-25\n23-Jan-25\n30-Jan-25\n06-Feb-25\n13-Feb-25\n20-Feb-25\n27-Feb-25\n06-Mar-25\n13-Mar-25\n20-Mar-25\n27-Mar-25\n03-Apr-25\n10-Apr-25\n17-Apr-25\nUS$ Billion\nVFEX Market Capitalisation \n95\n100\n105\n110\n115\n12-Dec-24\n19-Dec-24\n26-Dec-24\n02-Jan-25\n09-Jan-25\n16-Jan-25\n23-Jan-25\n30-Jan-25\n06-Feb-25\n13-Feb-25\n20-Feb-25\n27-Feb-25\n06-Mar-25\n13-Mar-25\n20-Mar-25\n27-Mar-25\n03-Apr-25\n10-Apr-25\n17-Apr-25\nIndex\nVFEX All Share Index \n0\n20,000\n40,000\n60,000\n80,000\n100,000\n120,000\n140,000\n160,000\n12-Dec-24\n19-Dec-24\n26-Dec-24\n02-Jan-25\n09-Jan-25\n16-Jan-25\n23-Jan-25\n30-Jan-25\n06-Feb-25\n13-Feb-25\n20-Feb-25\n27-Feb-25\n06-Mar-25\n13-Mar-25\n20-Mar-25\n27-Mar-25\n03-Apr-25\n10-Apr-25\n17-Apr-25\nZiG Thousands\nZSE Market Turnover \nLump-sum deals:\nEconet Wireless \nZimbabwe \nLimited, OK \nZimbabwe \nLimited, Delta \nCorporation \nLimited\n90\n110\n130\n150\n170\n190\n210\n230\n250\n270\n12-Dec-24\n19-Dec-24\n26-Dec-24\n02-Jan-25\n09-Jan-25\n16-Jan-25\n23-Jan-25\n30-Jan-25\n06-Feb-25\n13-Feb-25\n20-Feb-25\n27-Feb-25\n06-Mar-25\n13-Mar-25\n20-Mar-25\n27-Mar-25\n03-Apr-25\n10-Apr-25\n17-Apr-25\nIndices\nZSE Indices \nAll Share Index (ZSE)\nTop 10 Index\nMining Index\n \n 5 \n4. CLEARING AND SETTLEMENT ACTIVITY \n Source: Reserve Bank of Zimbabwe, 2025 \n \n5. ENERGY PRICES \n \nEnergy Prices \n \n28 March 2025 \n04 April 2025 \n11 April 2025 \n17 April 2025 \nDomestic Energy Prices \nUS$ \nUS$ \nUS$ \nUS$ \nDiesel 50/ litre \n1.55 \n1.52 \n1.52 \n1.52 \nPetrol Blend E20/ litre \n1.54 \n1.53 \n1.53 \n1.53 \nLP Gas / kg \n1.61 \n1.57 \n1.57 \n1.57 \n \n \n \n \n \nInternational Energy \nPrices (Weekly average) \nUS$/barrel \nUS$/barrel \nUS$/barrel \nUS$/barrel \nCrude Oil Prices \n72.83 \n71.13 \n63.79 \n65.40 \n Source: Zimbabwe Energy Regulatory Authority and BBC 2025 \n \n6. 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$/oz \nBuy \nSell \nBuy \nSell \n14-April-25 \n3,230.50 \n2.65 \n2.92 \n0.0987 \n0.1091 \n15-April-25 \n3,204.20 \n2.62 \n2.90 \n0.0979 \n0.1082 \n16-April-25 \n3,219.60 \n2.63 \n2.91 \n0.0983 \n0.1087 \n17-April-25 \n3,322.90 \n2.72 \n3.01 \n0.1015 \n0.1122 \nSource: London Bullion Market Association and Reserve Bank of Zimbabwe, 2025 \n \n \n \n \n \nPAYMENT STREAM \nWEEK ENDING \n11 April 2025 \nWEEK ENDING \n17 April 2025 \nWEEKLY \nCHANGE (%) \n \nVALUES \n \nRTGS \n26,132,101,548.77 \n28,200,688,885.89 \n7.92 \nOf which ZiG \n9,009,075,111.12 \n10,739,934,210.18 \n \nOf which US$ transactions \n(ZiG Equivalent) \n17,123,026,437.65 \n \n17,460,754,675.71 \n \nPOS \n1,865,816,855.95 \n1,760,519,029.65 \n(5.64) \nATM \n1,556,693,710.43 \n1,177,673,317.37 \n(24.35) \nMOBILE BANKING \n100,932,282.83 \n321,390,382.76 \n218.42 \nMOBILE MONEY \n3,255,998,291.99 \n3,049,766,821.71 \n(6.33) \nZIPIT MOBILE \n157,733,768.70 \n147,688,569.66 \n(6.37) \nTOTAL \n33,069,276,458.67 \n34,657,727,007.03 \n4.80 \n \nVOLUMES \n \nRTGS \n164,864 \n157,487 \n(4.47) \nOf which ZiG \n66,074 \n67,683 \n \nOf which US$ \n98,790 \n89,804 \n \nPOS \n1,603,193 \n1,523,007 \n(5.00) \nATM \n202,490 \n136,237 \n(32.72) \nMOBILE BANKING \n198,702 \n442,407 \n122.65 \nMOBILE MONEY \n11,288,582 \n10,753,050 \n(4.74) \nZIPIT MOBILE \n202,025 \n180,596 \n(10.61) \nTOTAL \n13,659,856 \n13,192,784 \n(3.42) \n \n 6 \nMosi-oa-Tunya Gold Coin Prices \nGold Coin \nPrice \n14-April -25 \n15-April -25 \n16-April -25 \n17-April -25 \n1.00Oz \n \n \n \n \nUS$ \n3,392.02 \n3,364.41 \n3,380.58 \n3,489.05 \nZiG \n90,966.99 \n90.231.99 \n90,579.66 \n93,504.31 \n0.50Oz \n \n \n \n \nUS$ \n1,696.01 \n1,682.21 \n1,690.29 \n1,744.52 \nZiG \n45,483.49 \n45,116.00 \n45,289.83 \n46,752.16 \n0.25Oz \n \n \n \n \nUS$ \n848.01 \n841.10 \n845.15 \n872.26 \nZiG \n22,741.75 \n22,558.00 \n22,644.92 \n23,376.08 \n0.10Oz \n \n \n \n \nUS$ \n339.20 \n336.44 \n338.06 \n348.90 \nZiG \n9,096.70 \n9,023.20 \n9,057.97 \n9,350.43 \nSource: Reserve Bank of Zimbabwe, 2025 \n \n \n7. EXTERNAL SECTOR \n \n \nExchange Rate Developments (ZiG per Unit of foreign currency) \n \n \nUSD \nZAR \nGBP \nBWP \nEURO \nWeekly Average \n(07 – 11 Apr) \n26.8011 \n1.3786 \n34.5195 \n1.9059 \n29.6427 \n14-Apr \n26.8179 \n1.4077 \n35.1519 \n1.9257 \n30.4867 \n15-Apr \n26.8196 \n1.4235 \n35.4531 \n1.9379 \n30.4845 \n16-Apr \n26.7941 \n1.4083 \n35.5358 \n1.9374 \n30.4114 \n17-Apr \n26.7994 \n1.4194 \n35.4183 \n1.9404 \n30.4495 \nWeekly Average \n(14 – 17 Apr) \n26.8078 \n1.4147 \n35.3898 \n1.9354 \n30.4580 \nAppr (-)/Depr (+) (%) of the \nZWG \n0.02 \n2.62 \n2.52 \n1.55 \n2.75 \nSource: Reserve Bank of Zimbabwe, 2025 \n \n \nInternational Commodity Prices \n \nGold \nPlatinum \nPalladium \nNickel \nLithium \n \nUS$/oz \nUS$/ounce \nUS$/ounce \nUS$/tonne \nUS$/tonne \nWeekly Average \n(07 - 11 Apr)) \n3,089.91 \n923.63 \n915.38 \n14,499.00 \n9,449.55 \n14-Apr \n3,212.43 \n952.50 \n943.50 \n15,307.00 \n9,413.64 \n15-Apr \n3,223.48 \n960.00 \n958.50 \n15,558.00 \n9,413.64 \n16-Apr \n3,313.45 \n961.50 \n969.50 \n15,683.00 \n9,413.64 \n17-Apr \n3,314.83 \n961.00 \n952.50 \n15,622.00 \n9,459.09 \nWeekly Average \n(14 - 17 Apr) \n3,266.04 \n958.75 \n 956.00 \n15,542.50 \n9,425.00 \nWeekly change (%) \n5.70 \n3.80 \n4.44 \n7.20 \n(0.26) \nSource: BBC, KITCO and Bloomberg, 2025 \n \n \n \n \n \n \n \n \n \n 7 \nFigure 3: Weekly International Commodity Price Developments (30th January 2025– 17th April 2025) \n \n \n \n \n \n \nSource: BBC, KITCO and Bloomberg, 2025 \n \n \n \n \n2,500\n2,550\n2,600\n2,650\n2,700\n2,750\n2,800\n2,850\n2,900\n2,950\n3,000\n3,050\n3,100\n3,150\n3,200\n3,250\n3,300\n3,350\n3,400\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\n6-Mar\n13-Mar\n20-Mar\n27-Mar\n3-Apr\n10-Apr\n17-Apr\nUS$/oz\nGold\n50\n55\n60\n65\n70\n75\n80\n85\n90\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\n6-Mar\n13-Mar\n20-Mar\n27-Mar\n3-Apr\n10-Apr\n17-Apr\nUS$/barrel\nCrude oil \n820\n840\n860\n880\n900\n920\n940\n960\n980\n1,000\n1,020\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\n6-Mar\n13-Mar\n20-Mar\n27-Mar\n3-Apr\n10-Apr\n17-Apr\nUS$/tonne\nPlatinum\n14,000\n14,200\n14,400\n14,600\n14,800\n15,000\n15,200\n15,400\n15,600\n15,800\n16,000\n16,200\n16,400\n16,600\n16,800\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\n6-Mar\n13-Mar\n20-Mar\n27-Mar\n3-Apr\n10-Apr\n17-Apr\nUS$/tonne\nNickel\n8,600\n8,800\n9,000\n9,200\n9,400\n9,600\n9,800\n10,000\n10,200\n10,400\n10,600\n10,800\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\n6-Mar\n13-Mar\n20-Mar\n27-Mar\n3-Apr\n10-Apr\n17-Apr\nUS$/tonne\nLithium \n900\n910\n920\n930\n940\n950\n960\n970\n980\n990\n1,000\n1,010\n1,020\n30-Jan\n6-Feb\n13-Feb\n20-Feb\n27-Feb\n6-Mar\n13-Mar\n20-Mar\n27-Mar\n3-Apr\n10-Apr\n17-Apr\nUS$/tonne\nPalladium\n \n 8 \n8. TOBACCO SALES \n \nWeekly Cumulative Tobacco Sales: Day 32 (17th April 2025) \n \n2024 \n2025 \nVariance (%) \nCumulative Quantity Sold (million kgs) \n95,305,929 \n85,121,668 \n(10.69) \nAverage Price (US$/kg) \n3.58 \n3.43 \n(4.19) \nCumulative value (US$ million) \n340,837,618 \n292,039,926 \n(14.32) \nSource: Tobacco Industry and Marketing Board (TIMB), 2025 \n \n \n \nRESERVE BANK OF ZIMBABWE \nAPRIL 2025", "source": "SARB", "stratum": "cb_requests", "fetch_date": "2026-05-11", "url": "file:///SARB/Weekly_Economic_Highlights/WEEKLY_ECONOMIC_HIGHLIGHTS_17_April_2025_Volume_27_Number_16.pdf"}