Decline in RTGS deposits affects Zim’s reserve money

By Staff Reporter
ZIMBABWE’s reserve money decreased by 89.71 %, as a result of a sharp decline in RTGS deposits in banks, according to the latest update by the Reserve Bank of Zimbabwe’s (RBZ) recent Reserve Money Update.
The central bank said, “Reserve money declined by ZW$172.43 million to ZW$17.75 billion as at week ending 4 December 2020, from ZW$17.92 recorded during the previous week.
“The decrease in reserve money largely reflected declines of ZW$228.66m and ZW$50.51m in other deposits at RBZ and bank’s liquidity (RTGS balances), respectively.”
Partially offsetting the decline in market liquidity were increases of ZW$57.54m in required reserves and ZW$7.03m in currency issued, during the week under review.
Preliminary estimates of currency issued by the RBZ as at week ending 4 December 2020 were at ZW$2.18 billion, while banking sector deposits at the central bank stood at ZW$15.57b over the same period under review.

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