NEW: Zim’s forex receipts rise to US$5,6bn in Jan-June period

Online Reporter

Zimbabwe’s foreign currency receipts rose by 3,5 percent from a year ago to US$5,6 billion in the first six months of the year, driven by exports and diaspora remittances, latest statistics from the Reserve Bank of Zimbabwe (RBZ) show.

“The positive trajectory in foreign currency receipts continued during the first half of 2023, with total receipts increasing by 3,5 percent to US$5,59 billion compared to US$5,405 billion during the comparable period in 2022,” said RBZ Governor Dr John Mangudya in the 2023 Mid-Term Monetary Policy Statement.

“The increase in foreign currency receipts was driven by exports (55 percent) and diaspora remittances (16 percent).”

The central bank exports merchandise exports to close the year at US$7,12 billion, which will be a 1,7 percent improvement from US$7 billion recorded last year.