Zimbabwe's forex receipts jump 23%

Published: 2 hours ago

Zimbabwe recorded a 23,1 percent surge in foreign currency receipts during the first half of 2025 compared to the same period last year, signalling growing confidence in the country's formal channels and resilience in its external sector.

According to the Reserve Bank of Zimbabwe (RBZ), total foreign currency inflows from January to June reached US$7,25 billion, up from US$5,89 billion in the same period of 2024. Export earnings dominated, contributing 54,5 percent of the total at US$3,95 billion, representing a 25,7 percent rise. The growth was driven by strong gold and platinum deliveries, buoyed by higher global prices and record output.

Gold exports soared 57,6 percent to US$1,38 billion, while platinum receipts rose 24,9 percent to US$797 million. Overall, mining exports brought in US$2,81 billion, a 38,6 percent year-on-year increase.

International money transfers, including diaspora remittances and inflows from non-governmental organisations (NGOs), contributed US$1,64 billion - 22,7 percent of the total receipts. Diaspora remittances alone grew 8,4 percent to US$1,09 billion, while NGO inflows dipped slightly by 1,1 percent.

RBZ Governor Dr John Mushayavanhu hailed the strong performance in his 2025 mid-term monetary policy review.

"It is a clear vote of confidence in Zimbabwe's formal remittance channels. Sustained inflows have been critical in replenishing our reserves and smoothing exchange-rate volatility," he said.

The robust inflows have bolstered Zimbabwe's foreign currency reserves, which climbed 150 percent from US$285 million in April 2024 to over US$730 million by June 2025. Dr Mushayavanhu reaffirmed the central bank's commitment to reaching the regional benchmark of three to six months' import cover.

Economist Sarah Chibhabha described the growth as a sign of Zimbabwe's "improving competitiveness," while banker Raymond Madziva attributed the rise in diaspora remittances to increased trust in licensed transfer operators and more attractive exchange-rate spreads.

With the current account surplus expected to rise from US$501,2 million in 2024 to US$621,7 million in 2025, analysts believe Zimbabwe is well-positioned to manage external shocks.

Dr Mushayavanhu concluded:

"We remain agile and ready to respond to global uncertainties. Our framework of prudent reserve-money management and market-determined exchange rates provides a solid anchor for future inflows and economic stability."
- The Herald

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