Reserve Bank of Zimbabwe : Money Update as at 14 January 2022

UPDATE ON RESERVE MONEY

AS AT 14TH JANUARY 2022

RESERVE MONEY

1. Reserve money increased by ZW$1.06 billion to ZW$27.18 billion during the week ending 14th January 2022, compared to the previous week's position of ZW$26.12 billion.
2. The growth in reserve money largely reflected an increase of ZW$1.11 billion and ZW$71.93 million in required reserves and currency issued, respectively.
3. Partially offsetting this increase was a decline of ZW$118.75 million in banks' liquidity (RTGS balances) at the Central Bank.
   Table 1: Reserve Money Developments (ZW$ Billions)

																										PRELIMINARY ESTIMATES
																										Week			Week			Week
				May-21			Jun-21			Jul-21			Aug -21			Sep -21			Oct -21			Nov -21				Ending			Ending			Ending
																									31 Dec -21*			07 Jan-22			14 Jan-22
	Currency
	Issued by	3.65		3.90		4.51		4.75		4.77		4.81		4.91			5.15			5.14			5.21
	RBZ
	Banking
	Sector			22.57			20.95			20.43			23.74			21.47			19.54			23.28			20.79			20.98			21.97
	Deposits at
	RBZ
	Statutory	6.66		7.27		7.86		8.22		9.26		9.54		18.71
	(Required)									19.78			19.98			21.09
	Reserves
	Banks'
	RTGS			15.91			13.68			12.57			15.53			12.22			10.00			4.57			1.01			1.00			0.88
	Liquidity
	Other	0.00		0.00		0.00		0.00		0.00		0.00		0.00			0.00			0.00			0.00
	Deposits
	Reserve			26.22			24.84			24.94			28.50			22.24			24.36			28.19			25.94			26.12			27.18
	Money
	Currency
	Issued/
	Reserve			13.92			15.68			18.09			16.67			18.18			19.76			17.40			19.86			19.67			19.16
	Money Ratio
	(%)
															2

																										PRELIMINARY ESTIMATES
																										Week			Week			Week
				May-21			Jun-21			Jul-21			Aug -21			Sep -21			Oct -21			Nov -21				Ending			Ending			Ending
																									31 Dec -21*			07 Jan-22			14 Jan-22
	Currency in
	Circulation	1.1		1.4		1.4		1.5		1.5		1.2		1.1			1.2			1.3			1.3
	/Deposits
	Ratio (%)
	Monthly
	Change in			16.62			-14.00			-8.12			23.52			-21.31			-18.14			-54.30			-66.33			-0.99			-11.87
	RTGS
	Balances (%)
	Monthly
	Change in	15.89		-5.23		0.40		14.23		-7.90		-7.19		15.72			-8.17			0.66			4.07
	Reserve
	Money (%)
	Government
	Deposits at			7.11			12.12			9.56			10.68			13.84			13.49			16.06			10.80			18.05			26.77
	RBZ (Stock)
	Monthly
	Inflation (%)	2.54		3.88		2.56		4.19		4.73		6.40		5.76			5.76			n/a			n/a
	- ZW$ CPI
	Monthly
	Inflation (%)			1.80			4.49			0.67			1.32			1.94			2.62			2.13			2.06			n/a			n/a
	- Blended
	Inter-Bank	84.73		85.42		85.64		86.06		87.67		97.14		105.67
	Exchange									108.67			108.67			108.67
	Rate

*Provisional until audit is finalized.

3