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The ZiG is Zimbabwe's sixth attempt since 2008 at creating a new currency that will make it independent of the US dollar. [16] Since the currency crisis of 2008–2009, Zimbabwe has a multi-currency system. It was introduced in 2009 after the hyperinflation of the fourth Zimbabwean dollar (ZWL). For ten years there was no Zimbabwean currency.
The Zimbabwean dollar (sign: Z$; code: ZWL), [5] also known as the Zimdollar or Real Time Gross Settlement (RTGS) dollar, [6] [7] was the currency of Zimbabwe from February 2019 to April 2024. It was the only legally permitted currency for trade in Zimbabwe from June 2019 to March 2020, after which foreign currencies were legalised again.
On 2 February 2009, the Reserve Bank introduced banknotes of the fourth dollar, equal to one trillion (1 000 000 000 000 or 10 12) third dollars: the banknotes of the third dollar were supposed to lose legal tender status by 1 July 2009, but the power-sharing government of Prime Minister Morgan Tsvangirai instead suspended the Zimbabwean dollar ...
The first Zimbabwean dollar was introduced in 1980 and replaced the Rhodesian dollar at par. The initial ISO 4217 code was ZWD. At the time of its introduction, the Zimbabwean dollar was worth more than the US dollar in the official exchange market, with 1 ZWD = US$1.47, although this did not reflect the actual purchasing power it held.
The US dollar, the euro, and the South African rand were candidates; the US dollar had the most credibility and was the most widely traded within Zimbabwe. [68] Zimbabwe could have joined the nearby nations of Lesotho , Namibia , South Africa , and Eswatini , which constitute the Common Monetary Area , or "Rand Zone" [ 10 ] by formally deciding ...
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
USD Cent: 100 Vietnam: Vietnamese đồng ₫ VND Hào [L] 10 Wallis and Futuna: CFP franc ₣ XPF Centime: 100 Yemen: Yemeni rial: Rl or Rls (pl.) YER Fils: 100 Zambia: Zambian kwacha: K ZMW Ngwee: 100 Zimbabwe: Zimbabwean dollar $ ZWL Cent: 100 Zimbabwe gold: ZiG ZWG (none) (none) United States dollar $ USD Cent: 100
Pegged against the U.S. dollar coins were denominated at 1, 5, 10, and 25 cents and later followed by a 50-cent coin in 2015. [2] A bi-metallic one-dollar bond coin was released on 28 November 2016. [3] A bi-metallic two-dollar bond coin was released into circulation in 2018. in 2024 the Zimbabwe gold was introduced and replaced the Zimbabwe ...