Zimbabwe’s foreign currency receipts rose sharply in the opening months of 2026, climbing 77 percent to US$3,35 billion by February, up from US$1,89 billion recorded during same period last year, according to the Reserve Bank of Zimbabwe (RBZ).
The central bank attributed the surge largely to robust export performance from the mining sector, with gold and platinum group metals (PGMs) leading the charge.
John Mushayavanhu, RBZ governor, said the stronger inflows have played a key role in rebuilding the country’s foreign exchange reserves, while also reinforcing confidence in the local ZiG currency.
“The Reserve Bank reiterates that the continued strong foreign currency inflows and the resultant build-up of foreign currency reserve buffers will ensure mobilisation of adequate foreign currency resources to support critical imports, including fuel,” Mushayavanhu said.
He noted that the uptick in forex receipts is helping to anchor the domestic unit and improve the country’s capacity to meet external obligations.
The latest figures come against a backdrop of heightened activity in global commodity markets.
Although gold prices have eased slightly to around US$4 470 per ounce following earlier volatility, they remain at elevated levels by historical standards.
Meanwhile, PGMs continue to underpin export earnings, with platinum trading close to US$1 998 per ounce and palladium hovering near US$1 470, sustaining Zimbabwe’s position as a key mineral exporter.
The strong start to 2026 follows a record-breaking performance last year, when Zimbabwe posted its highest-ever foreign currency inflows.
Total earnings rose by 21,8 percent to US$16,2 billion in 2025, compared to US$13,3 billion prior year, supported by firmer mineral prices and increased diaspora remittances.
Looking ahead, the central bank signalled that it will remain cautious but responsive to shifting economic conditions.
Mushayavanhu said the central bank’s Monetary Policy Committee will continue to “carefully assess evolving international and domestic economic developments, outlook and the balance of risks to ensure that the monetary policy stance remains appropriate.”
On the back of current trends, authorities expect foreign currency inflows to once again exceed the US$16 billion mark this year.
The outlook is supported by strong commodity prices, improved agricultural prospects following a favourable rainy season, and sustained inflows from Zimbabweans living abroad. – TML