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The Reserve Bank of Zimbabwe issued most of the banknotes and other types of currency notes in its history, including the bearer cheques and special agro-cheques ("agro" being short for agricultural) that circulated between 15 September 2003 and 31 December 2008: the Standard Chartered Bank also issued their own emergency cheques from 2003 to 2004.
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. [8]
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.
Tuvaluan dollar – Tuvalu (not an independent currency, equivalent to Australian dollar) United States dollar – United States. See also International use of the U.S. dollar; Zimbabwean dollar – Zimbabwe; Đồng North Vietnamese đồng – North Vietnam; South Vietnamese đồng – South Vietnam; Vietnamese đồng – Vietnam; Drachma ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
On 24 June 2019, the Reserve Bank of Zimbabwe abolished the multiple-currency system and replaced it with a new Zimbabwe dollar (the RTGS Dollar), [9] which was the only official currency in the country between June 2019 and March 2020, after which multiple foreign currencies were allowed again.
The magnitude of the currency scalars signifies the extent of the hyperinflation. Zimbabwe's inflation of almost 25,000% in 2007. Hyperinflation in Zimbabwe is an ongoing period of currency instability in Zimbabwe which, using Cagan's definition of hyperinflation, began in February 2007. During the height of inflation from 2008 to 2009, it was ...
Despite the notes being notionally pegged to the US dollar, their value, like the former Zimbabwean dollar, is collapsing, with everyday transactions using a rate of $3 bond notes to 1 United States dollar in January 2019 and over $90 bond notes to US$1 as of November 2020. [11] As of August 2022, the conversion rate is $361.9 bond notes to US$1.