Nostro balances rise to $700 million

Total deposits in Zimbabwe hit $9.2 billion in the first week of March, comprising $700m hard currency, the permanent secretary of the Ministry of Finance, George Guvamatanga has said.

Of the deposits, $4 billion is borrowing, $3 billion is in Treasury bills and $1 billion under the central bank savings bond.

This leaves $2 billion to pay utilities, buy forex and shares, Guvamatanga said on Tuesday.