RBZ Injects $64 Million Into Circulation

The RBZ has revealed it injected approximately ZWL $64 Million into circulation during the week that ended on 19 June 2020, The Herald reports.

The recent injection according to the bank increased cash in circulation to $1.6 billion:

According to statistics released last Friday by the central bank, cash in circulation increased to $1.661 billion for the week to June 19, 2020 up from $1.552 billion for the week ending 12 June 2020

This also put cash in circulation at 11.6% of all currency:

As of that date, cash in circulation is now 11.6 percent of all the currency (not cash) issued by the central bank amounting to $13.903 billion.

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As for money reserves:

The central bank said preliminary reserve money stood at $13.90 billion as at June 19, 2020 from $13.34 billion recorded on June 12, 2020.

The RBZ said it will carefully release money into circulation in order to curb money supply growth. However other factors have already contributed to inflation which according to ZimStats stands at 756%.

More: The Herald