RBZ mops-up additional $2 billion

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THE Reserve Bank of Zimbabwe (RBZ) says it has sterilised an additional $1,99 billion of excess liquidity through open market operations (OMO).
Last month, the apex bank’s governor, John Mangudya said $14,1 billion had been mopped-up through OMO between October and December 2020, which aided containment of money supply below set targets.

In a recent update, the bank said reserve money decreased by $1,8 billion during the week ending March 5, adding that “the decrease in reserve money was attributable to net issuances of OMO savings bonds amounting to $1,99 billion, which had the effect of withdrawing liquidity from the market”.