Zimbabwe recorded a strong inflow of foreign currency in the third quarter of 2025, with receipts rising to US$9.2 billion, up from US$8.5 billion during the same period in 2024, according to the Reserve Bank of Zimbabwe.
In its Quarterly Snapshot on Recent Monetary, Currency, Price, and Financial Developments for Q3 2025, the central bank attributed the increase to higher export earnings and resilient performance in the mining and agricultural sectors.
The RBZ said the surge in receipts supported the continued stability of the Zimbabwe Gold currency and underpinned confidence in the financial system.
“Foreign currency receipts remained robust, driven largely by export performance and remittance inflows,” the central bank noted.
The increase in receipts also strengthened Zimbabwe’s external position, with the foreign reserves covering up to 3.5 months of import requirements by the end of September 2025. The Bank said this improved coverage helped stabilise the exchange rate and contain inflationary pressures.
“Exchange rate stability was underpinned by increased use of ZiG in domestic transactions and enhanced confidence in the banking sector,” the RBZ said.
The report further highlighted that month-on-month inflation continued to decline, reflecting the impact of firm monetary policy measures. The Bank noted that the moderation in price growth was a direct result of disciplined liquidity management and stable currency conditions.
“Month-on-month inflation declined further in September 2025, reflecting the impact of tight monetary policy measures and a broadly stable exchange rate environment,” the central bank stated.
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RBZ Governor Dr. John Mushayavanhu reaffirmed the Bank’s commitment to maintaining monetary stability through clear communication and prudent policy execution.
“The Bank remains steadfast in its efforts to ensure price and exchange rate stability while promoting confidence in the domestic currency,” he said.
The report also indicated that broad money supply growth was contained, supported by strict fiscal and monetary coordination.
Weekly foreign currency loans remained stable, while local currency loans registered moderate increases, suggesting sustained banking sector resilience.
In terms of the broader economic outlook, the RBZ projected steady growth for 2025, driven by stability in key macroeconomic indicators and strong performance in the productive sectors.
“The economy is expected to grow beyond the initial projections for 2025, driven by stability in key macroeconomic indicators and recovery in agriculture and manufacturing,” the Bank said.
The central bank emphasized that continued foreign currency inflows, tight monetary policy, and sound fiscal management will be critical in sustaining current gains.
“The Reserve Bank will continue to pursue policies that promote external sector stability and preserve the value of the ZiG,” read part of the statement.
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