Reserves Update 29/10/2021: RBZ Reserve Money In Sharp Decline
The Reserve Bank of Zimbabwe (RBZ) recorded a decrease in Reserve Money as of the week ending 29 October 2021 reflecting a decrease in banks’ liquidity at the RBZ.
In the RBZ’s previous report for the week that ended on 22 October 2021, Reserve Money had decreased by ZW$2.35 billion.
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Pindula News presents the central bank’s statement on the status of Reserve Money for the week ending 29th October 2021.
1. Reserve money fell by ZW$2.35 billion to ZW$24.36 billion during the week ending 29th October 2021, compared to the previous week’s position of ZW$26.71 billion.
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2. The decline in reserve money largely reflected decreases of ZW$2.77 billion and ZW$32.40 million in banks’ liquidity (RTGS balances) at the Central Bank and currency issued, respectively. Partially offsetting the decrease was an increase of ZW$453.29 million in required reserves.
3. Liquidity mopping up operations by the Bank through the issuance of non-negotiable certificates of deposits (NNCDs) resulted in the fall in market liquidity.