adminTHE value of transactions processed through the National Payment Systems (NPS) slumped 28 percent to $938,9 million in the week ending April 2, 2015 from $1,3 billion recorded in the previous week. According to statistics from the Reserve Bank of Zimbabwe weekly economic report, this was mainly on account of a decrease in the value of transactions processed through the Real Time Gross Settlement (RTGS) system.
The RTGS system recorded a 38 percent decline in transactions from $1,1 billion in the previous week to $684,6 million, during the week under review.
Transactions processed through Automated Teller machines recorded the highest increase of 92 percent to $105.4 million from $54.9 million.
Mobile transactions were also 22 percent up on the previous week at $92.6 million from $76,1 million recorded in the previous week.
In terms of proportions, RTGS payments accounted for 72,92 percent of the total value of transactions processed through the NPS, followed by ATMs at 11,23 percent and mobile-based transactions at 9,86 percent.
The central bank said the money market was characterised by subdued activity during the week under review and consequently, average deposit rates for savings deposits and deposits of one month and three month tenors remained unchanged at 3,54 percent, 9.29 percent and 10,96 percent, respectively.
Commercial banks’ weighted lending rates for individuals closed the week under review at 13,22 percent, down from 13,24 percent in the previous week while corporate clients’ weighted lending rates remained unchanged at 8,75 percent during the same week.- BH24.
Bongani Moyo
Online Reporter