Business Reporter
ZIMBABWE recorded historic foreign currency earnings, an expanded trade surplus and stronger external reserves in the third quarter of 2026.
Foreign currency inflows reached an all-time high of US$15,9 billion for the period January to September 2026, compared to US$11,9 billion in the same period last year.
Robust foreign currency inflows generated consecutive monthly trade surpluses throughout the third quarter.
The country achieved a trade surplus of US$526,5 million in August 2026, up from US$320 million the prior month.
Foreign currency reserves reached US$2 billion in September 2026, providing two months of import cover.
Official performance metrics released by the Reserve Bank of Zimbabwe yesterday showed the weighted score for the mono-currency transition conditions rose to 54,9 percent in September 2026, up from 50,1 percent in August.
Zimbabwe’s transition to a single-currency system anchored on ZiG is now strictly condition-driven and market-led rather than tied to a specific calendar date.
The RBZ has established a comprehensive framework of eight objective economic benchmarks (Conditions Precedent) that must be sustainably met before the multi-currency regime is phased out.
These include the central bank building and maintaining an official foreign-exchange buffer equivalent to 3 to 6 months of import cover.
The country must consistently maintain sustained, single-digit inflation over the medium to long term to anchor the purchasing power of the domestic currency.
According to the apex bank, the country requires a unified exchange rate system and a highly functional foreign exchange management framework.
It must also achieve broad market adoption of the ZiG, where households, firms and investors trust the domestic unit enough to save and plan in it.
The central bank attributed the progress towards a mono-currency regime directly to accelerated foreign reserve accumulation and sustained low inflation rates.
The local currency maintained stability against the US dollar, trading between ZiG25 and ZiG27 during the review period, while the parallel market premium dropped below 15 percent.
Local currency transactions across the National Payment System consistently accounted for more than 40 percent of total volume during the quarter.
Annual ZiG inflation hit a historic low of 2,9 percent in August 2026 before rising slightly to 3,7 percent in September due to higher fuel costs and rental adjustments.
Reserve money remained capped at approximately ZiG7,5 billion at the end of September 2026, keeping liquidity within agreed target thresholds under the ongoing International Monetary Fund Staff Monitored Programme.
Commenting on the latest developments, RBZ Governor, Dr John Mushayavanhu, said the economy remains on course to achieve the 5 percent growth projected for 2026, while inflation is set to remain low and stable in the remaining three months.
“The prevailing price, currency and exchange rate stability in the economy has been supported by the Reserve Bank’s prudent monetary policy stance and supportive fiscal policy, providing a conducive environment for growth.”
