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RTGS, Card-based, Mobile And Internet Transactions Grow By Nearly 100% - RBZ

RTGS, Card-based, Mobile And Internet Transactions Grow By Nearly 100% - RBZ

Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya has said broad money increased from $329.19 billion recorded in August 2021 to $364.60 billion in September 2021.

Mangudya told Technomag that the National Payment Systems (NPS) comprising RTGS system, cash, card-based transactions and mobile and internet-based transactions grew by a marginal 0.94 per cent in September to $779.71 billion from $673.27 billion a month earlier.

According to the RBZ Governor Dr Mangudya’s monthly review, the volume of NPS transactions increased from 122.45 million in August to 123.32 million during the month under review.

In September, card-based transactions were down by 0.87 per cent from $56.71 billion to $56.44 billion, but cash-based transactions increased by 0.3 per cent to $14.86 billion.

Mobile and internet-based transactions amounted to $245.33 billion during the month of September 2021, an 18.13 per cent increase from $219.02 billion registered in August 2021

The RTGS system payments rose by 4.71 per cent from $397.54 billion in August 2021 to $477.93 billion while volumes surged marginally by 164 per cent to close the month of September at 1.19 million.

Many people prefer ZW$ transactions, wherever possible, as the local currency has shed value against the scarce United States dollar.

More: Technomag

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Leader of the youths (jnr) 5 months ago

Okay okay tanzwisisawo @Gaffer

Leader of the youths (jnr) 5 months ago

Okay okay tanzwisisisawo 5 months ago

@Chapwititi: Apa wabvunzawo zvinemutsindo

Gaffer 5 months ago

According to my understanding and experience of economics and governing. Reserve money or money in the Reserve bank is more like the profit or the pocket money of a country. Where as the above numbers or information is of the total/gross transactions made by both the public and private sector including you and me not forgetting the bizness and other organizations. At the end the reserve account will receive a share through tax and the like...

Chapwititi 5 months ago

But weekly the RBZ compile reports that the Reserve money is around 28billion.The RTGS payment system surges to 477.93billion,i am confused,can some economist help me on this scenario .

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