The Reserve Bank of Zimbabwe (RBZ) has reported that the central bank recorded a sharp decline in reserve money during the week that ended 7 May.
The central bank attributes the decline in reserve money to a decrease in banks’ liquidity. In a statement, the RBZ said:
- Reserve money for the week ending 7th May 2021 fell by ZW$181.07 million to ZW$22.44 billion, largely reflecting a decrease of ZW$464.85 million in banks’ liquidity (RTGS balances) at the Reserve Bank, due to excess liquidity mopping up operations by the Bank.
- Partially offsetting the decrease in reserve money were increases of ZW$191.46 million and ZW$92.31 million in statutory reserves and currency issued, respectively.
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