Online Reporter
Business Reporter
ZIMBABWE’s foreign currency reserves rose to US$1,7 billion by the end of July, from US$1,6 billion in June, equivalent to 1,7 months of import cover, supported by increased foreign currency inflows and mineral royalties, official figures show.
The Reserve Bank of Zimbabwe said in its 2026 mid-term monetary policy released today that the growth in reserves was also supported by royalties paid in-kind from precious minerals and the channelling of 5 percent of the 30 percent export surrender requirement towards reserve accumulation.
This came after foreign currency inflows increased 47,8 percent to US$10,72 billion in the first half of 2026, from US$7,25 billion during the same period last year.
The inflows exceeded cumulative foreign currency payments of US$7,30 billion between January and June.
The stronger reserve position has enabled the central bank to intervene in the interbank foreign exchange market and ensure bona fide foreign payments are met.
As a result, the ZiG/US dollar exchange rate remained within ZiG25-ZiG27, while the parallel market premium averaged 15 percent during the first half of the year.
The reserves covered the ZiG deposit base almost 1,5 times and reserve money six times at end-July.
