Zimbabwe banks hit the jackpot with foreign money reserves climbing to a massive 731 million dollars by June 2025. The Reserve Bank of Zimbabwe announced the huge jump from 639 million dollars in May and just 276 million dollars back in April last year. Government officials say the cash pile includes gold, foreign currency, and bank balances that back up their local ZiG currency. The foreign reserves beat the ZiG reserve money by more than three times. Bank bosses launched the ZiG currency in April 2024 to replace the old Zimbabwe dollar that lost most of its value.
People started using ZiG money more often with transactions hitting 43 percent in May before dropping slightly to 35 percent in June. The central bank keeps printing more ZiG notes and coins while setting up payment machines across the country. Zimbabwe brings in about 1.2 billion dollars every month from exports and money sent home by citizens living abroad. The country only spends around 821 million dollars monthly on imports and other payments. Monthly cash surpluses average 378 million dollars which helps build up the foreign reserves even more.
People started using ZiG money more often with transactions hitting 43 percent in May before dropping slightly to 35 percent in June. The central bank keeps printing more ZiG notes and coins while setting up payment machines across the country. Zimbabwe brings in about 1.2 billion dollars every month from exports and money sent home by citizens living abroad. The country only spends around 821 million dollars monthly on imports and other payments. Monthly cash surpluses average 378 million dollars which helps build up the foreign reserves even more.
