The Reserve Bank of Zimbabwe (RBZ) recorded an increase in Reserve Money as of the week ending 06 August 2021 reflecting an increase in RBZ’s liquidity.
In the RBZ’s previous report for the week that ended on 30 July 2021, Reserve Money had increased by ZW$1.54 billion to ZW$24.94 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 for the week ending 6th August 2021 increased by ZW$1.68 billion to ZW$26.63 billion, compared to last week’s position of ZW$24.94 billion.
2. The growth in reserve money largely reflected an increase of ZW$1.58 billion in banks’ liquidity (RTGS balances) at the Reserve Bank, on the back of increased purchases of maize by Government, from farmers.
3. Maturing non-negotiable certificates of deposits (NNCDs) also injected some liquidity into the economy, which was partially offset by an increase of ZW$5.44 billion in Government deposits at the Central Bank, which had the effect of withdrawing liquidity from the market.