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$20 billion and $50 billion notes (12 January 2009) [61] $10 trillion, $20 trillion, $50 trillion and $100 trillion (16 January 2009) [ 62 ] The large number of denominations issued in late-2008 as well as the suspension of paper supply by Giesecke & Devrient affected the Reserve Bank's ability to maintain the quality of the banknotes.
A third redenomination, producing the "fourth Zimbabwe dollar", occurred in February 2009, and dropped 12 more zeros from the currency. It was thus worth 10 trillion trillion original dollars, as the three redenominations together reduced the value of an original dollar by 10 3 × 10 10 × 10 12 = 10 25.
The Zimbabwean dollar (sign: Z$; 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.
The final redenomination produced the "fourth dollar" (ZWL), which was worth 10 25 ZWD (first dollars). Use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009. It was demonetised in 2015, with outstanding accounts able to be reimbursed until 30 April 2016.
The ZiG notes are made from cotton paper, have the Zimbabwe Bird as their watermark, and are all equal in size, measuring 155 mm × 65 mm (6.1 in × 2.6 in). According to a NewsDay article dated 31 May 2024, Governor John Mushayavanhu said that the Reserve Bank of Zimbabwe will not introduce 50 or 200-ZiG notes anytime soon as it fears that the ...
In November 2016, backed by a US$200 million loan from the African Export-Import Bank, the Reserve Bank of Zimbabwe began issuing $2 bond notes. [2] Two months later, US$15 million worth of new five-dollar bond notes were also released. [3] Further plans for $10 and $20 bond notes were ruled out by the Reserve Bank's governor John Mangudya. [4]
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On 4 April 2008 the Reserve Bank of Zimbabwe introduced new $25 million and $50 million bearer cheques. [87] At the time of first issue they were worth US$0.70 and US$1.40 on the parallel market respectively. On 1 May 2008, the RBZ announced that the dollar would be allowed to float in value subject to some conditions. [82]