Money supply rises to $35bn

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ZIMBABWE’S money supply rose to $34,98 billion in December last year from $23,55 billion in September, a central bank report has revealed.
In a quarterly economic review for the three month to December 2019, the central bank said the quarter on quarter growth in money supply was on the back of expansions in transferrable deposits, which stood at 52,29 percent.
Currency in circulation during the period under review was 30,97 percent; time deposits, 13,53 percent; and negotiable certificates of deposits (NCDs) 10,95 percent.

“During the quarter under review, transferable deposits constituted 91,32 percent of broad money, of which 52,19 percent were in domestic currency and 34,13 percent, in foreign currency. Time deposits, currency in circulation and NCDs accounted for 5,40 percent, 2,59 percent and 0,70 percent, respectively,” the central bank said.