Foreign Currency Reserves Hit US$1.5 Billion

Zimbabwe's foreign currency reserves backing the ZiG increased to US$1.5 billion as of May 2026, providing approximately 1.5 months of import cover. This marks a sharp rise from the US$276 million held when the ZiG launched in April 2024. The surge reflects improved export earnings and tighter monetary management. The ZiG is backed by gold and foreign currency reserves. The reserve buildup strengthens the central bank's ability to defend the currency. The core vulnerability is the reserves' reliance on volatile mineral export revenues.