Online Reporter
Martin Kadzere
Zimbabwe’s economy is showing strong signs of strengthening, with the country consistently receiving sufficient foreign currency to cover its external payment obligations and building a substantial surplus, according to the latest economic review by the Reserve Bank of Zimbabwe (RBZ).
The surge in foreign currency receipts has been primarily driven by improved mineral prices, particularly gold and growth in diaspora remittances.
From January to May 2025, Zimbabwe recorded average monthly foreign currency receipts of US$1,2 billion, significantly outpacing external payments of approximately US$821 million per month, the central bank said.
This has resulted in a healthy monthly surplus averaging US$378 million, which has been instrumental in facilitating domestic transactions and bolstering the country’s foreign currency reserves.
The stability of the local currency, the ZiG, against the US dollar has been a key outcome of these developments.
The willing buyer willing seller interbank exchange rate closed June at ZiG26,95 per US$1, reflecting a largely stable trend.
The stability is partly linked to the increased availability of foreign currency in the economy, which has also helped to contain the parallel market premiums.
“The build-up of foreign currency reserves is critical for the lasting stability of the ZiG,” the RBZ noted.
Overall foreign currency receipts for the first five months of 2025 reached US$6 billion, a notable increase compared to US$4,9 billion during the same period in 2024, the Reserve Bank said.
Export earnings dominated the foreign currency inflows, accounting for about 55,9 percent by May 2025, followed by loan proceeds at 18,4 percent and diaspora remittances at 15,4 percent.
