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*RBZ: Reserve Money In Sharp Decline*

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The Reserve Bank of Zimbabwe (RBZ) has reported that the central bank recorded a sharp decline in reserve money during the week that ended 7 May.

The central bank attributes the decline in reserve money to a decrease in banks’ liquidity. In a statement, the RBZ said:

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Reserve money for the week ending 7th May 2021 fell by ZW$181.07 million to ZW$22.44 billion, largely reflecting a decrease of ZW$464.85 million in banks’ liquidity (RTGS balances) at the Reserve Bank, due to excess liquidity mopping up operations by the Bank.
Partially offsetting the decrease in reserve money were increases of ZW$191.46 million and ZW$92.31 million in statutory reserves and currency issued, respectively.

Download: Reserve-Money-Update—-7-May–2021

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