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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.
The 100 trillion Zimbabwean dollar banknote (10 14 dollars), equal to 10 27 pre-2006 dollars. On 30 July 2008, the dollar was redenominated and given a new currency code of ZWR. [23] After 1 August 2008, 10 billion ZWN were worth 1 ZWR. [23] Coins valued at Z$5, Z$10 and Z$25 and banknotes worth Z$5, Z$10, Z$20, Z$100, and Z$500 were issued in ...
The Zimbabwean dollar (sign: Z$; 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.
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. Computers could not handle the amount of zeros such that other forms of money had to be used to act as normal money (bearer's cheques).
Hyperinflation in Zimbabwe was one of the few instances that resulted in the abandonment of the local currency. At independence in 1980, the Zimbabwe dollar (ZWD) was worth about US$1.49 (or 67 Zimbabwean cents per U.S. dollar). Afterwards, however, rampant inflation and the collapse of the economy severely devalued the currency.
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.
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.
Each new Zimbabwe dollar was worth 1000 ... (5 May 2008); 500 million and 5, 25, and 50 billion dollars (20 May 2008); and 100 billion dollars (21 July 2008 ...