Online Reporter
Debra Matabvu
RESERVES backing the Zimbabwe Gold (ZiG) currency — composed of foreign currency and gold — have risen to US$1 billion, providing nearly one-and-a-half months of import cover, the Reserve Bank of Zimbabwe (RBZ) has said.
Zimbabwe’s export receipts reached a historic US$13 billion in the first 10 months of 2025, signalling stronger foreign currency inflows and a solid foundation for economic stability and growth.
In a statement released after a meeting on Monday, the Monetary Policy Committee (MPC) indicated that the latest development highlights key strides towards transitioning to a monocurrency by 2030.
“In the 10 months to October 2025, total foreign currency inflows amounted to more than US$13 billion, a 21 percent increase compared to the same period in 2024,” the statement reads.
Foreign currency reserves backing the ZiG now stand at around US$1 billion, equivalent to 1,2 months of import cover, supporting the smooth functioning of the willing-buyer, willing-seller foreign exchange market.
The increase has ensured that all bona fide import and foreign payment requirements are fully met.
The MPC noted that these positive monetary and financial developments move the country closer to conditions for transitioning to a monocurrency, as outlined in the 2026 National Budget and National Development Strategy 2 (NDS2).
The statement also welcomed the budgetary reduction of the Intermediated Money Transfer Tax (IMTT) on ZiG-denominated transactions from 2 percent to 1,5 percent, describing it as critical to promoting wider domestic currency use and financial inclusion.
“The launch of NDS2 (2026–2030) further emphasises macroeconomic stability and financial sector deepening as essential for achieving Vision 2030: an empowered and prosperous upper-middle-income society,” the MPC added.
