Business - Local - October 17, 2020

RBZ increased banking sector deposits

By Staff Reporter

RESERVE Bank of Zimbabwe announced that the Banking sector deposits from the central bank have increased by ZWL1.4 billion while currency issued increased by ZWL69.5 million.
Reserve bank of Zimbabwe statements reads;
“Banking sector deposits at the Reserve Bank increased by ZW$1.4 billion, while currency issued increased by ZW$69.5 million. This resulted in reserve money rising by ZW$1.1 billion, to ZW$15.4 billion over the week ending 9 October 2020.”
“Government deposits at the Central Bank declined by ZW$1.7 billion, which had the impact of injecting liquidity at banks, thus contributing to the increase in reserve money during the week under review.”

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