The Reserve Bank of Zimbabwe (RBZ) recorded an increase in Reserve Money as of the week ending 30 July 2021 reflecting an increase in RBZ’s liquidity.
In the RBZ’s previous report for the week that ended on 23 July, Reserve Money had decreased by ZW$906.52 million to ZW$23.40 billion.
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Pindula News presents the central bank’s statement on the status of Reserve Money for the week ending 30 July 2021.
1. Reserve money increased by ZW$1.54 billion to ZW$24.94 billion, as at the week ending 30th July 2021. The rise in reserve money largely reflected an increase of ZW$1.08 billion in banks’ liquidity (RTGS balances) at the Reserve Bank, coupled with increases of ZW$428 million and ZW$37.84 million in required reserves and currency issued, respectively.
2. The increase in reserve money was on the back of payment of monthly salaries and wages to civil servants, which saw Government deposits at the RBZ declining by ZW$703.15 million over the week, thus injecting liquidity into the economy.
3. Maturing non-negotiable certificates of deposits (NNCDs) also injected liquidity into the market.