The Reserve Bank of Zimbabwe (RBZ) has reported that Reserve Money increased by 902 Zimbabwean dollars as of the week ending 4th June 2021.
In the RBZ’s previous report for the week that ended on 28 May 2021, reserves had increased by 240 million Zimbabwean dollars.
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The increase was largely attributable to maturing savings bonds held by banking institutions. Pindula News present the central bank’s statement below.
1. Reserve money increased by ZW$902.23 million to ZW$24.28 billion, as at week ending 4th June 2021. The rise in reserve money reflected an increase of ZW$590.80 million in banks’ liquidity (RGTS balances) at the Reserve Bank, coupled with increases of ZW$196.18 million and
ZW$115.25 million in required reserves and currency issued, respectively.
2. The rise in market liquidity was largely attributable to maturing savings bonds held by banking institutions, which was partially offset by issuance of non-negotiable certificates of deposits (NNCDs) to banks with excess liquidity balances.