RBZ: Reserve Money Declines Again - 2 July 2021
The Reserve Bank of Zimbabwe (RBZ) recorded a sharp decline in Reserve Money as of the week ending 2nd July 2021 mainly because of a decrease in banks’ liquidity.
In the RBZ’s previous report for the week that ended on 18 June, Reserve Money had fallen by ZW$176.84 million to ZW$23.85 billion.
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Pindula News present the central bank’s statement.
1. Reserve money declined by ZW$917.13 million to ZW$23.53 billion during the week ending 2nd July 2021, largely reflecting a decrease of ZW$1.35 billion in banks’ liquidity (RTGS balances), which was partially offset by increases of ZW$400.36 million and ZW$37.13 million in required reserves and currency issued, respectively.
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2. The fall in liquidity was mainly due to payment of taxes for the Quarter ended June 2021, which led to an increase in Government revenue collections. As a result, Government’s deposits at the RBZ rose by ZW$9.15 billion, over the week under review.
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