", "Budget likely to show Mugabe's desperation", "Zimbabwe Teachers Can't Afford to Report for Work", "The United Nations Operational Rates of Exchange", "Zim trims 12 zeroes from trillion dollar note", Saint Helena, Ascension and Tristan da Cunha, https://en.wikipedia.org/w/index.php?title=Zimbabwean_dollar&oldid=1001452975, Currencies of the Commonwealth of Nations, Articles with dead external links from May 2016, Articles with unsourced statements from March 2017, Wikipedia articles in need of updating from February 2020, All Wikipedia articles in need of updating, Articles with unsourced statements from August 2013, Articles needing additional references from January 2018, All articles needing additional references, Articles with German-language sources (de), Creative Commons Attribution-ShareAlike License, $1, $5, $10, $20, $50, $100, $500, $1 000, $1,000,000,000,000, 1, 5, 10, 20, 50 cents, 1, 2, 5, 10, and 25 dollars, 98.0% per day in mid-November 2008 or 8.97, Z$ tied to basket of FRF, DEM, ZAR, CHF, GBP, USD, 18 April 1980 – Independence (1 Z$ = 1 R$), Flexible basket; dual rates; 20% tax on outgoing payments, Floating official rate (1 July) ; dual rates; ZWD devalued by 17%, floating official rate; dual rates; rates unified 1998 (Dec). 156.69 (18th); 163.34 (19th) 440 ‡ (26th) 16,000,000 and 20,000,000 for large amounts (21st[132]), 24,000,000 (2nd[133]); 360,000,000,000 (17th); [149] [5][55] The Zimbabwean government stated that it would credit 5 US dollars to domestic bank accounts with balances of up to 175 quadrillion Zimbabwean dollars, and that it would exchange Zimbabwean dollars for US dollars at a rate of US$1 to 35 quadrillion Zimbabwean dollars to accounts with balances above 175 quadrillion Zimbabwean dollars. The cash is supposed to replace money that was stored electronically. Over time, hyperinflation in Zimbabwe reduced the Zimbabwe dollar to one of the lowest valued currency units in the world. Case 1: Gold Plated and Novelty Print Zimbabwe Currency. 42.32 (11th); 46.07 (12th) 143.42 (16th); 150.52 (17th) The official exchange rate was allowed to float 6 May, 1 August: The Reserve Bank revalued the dollar again: 10, The Reserve Bank lifted the suspension on the Real Time Gross Settlement System (RTGS) on 13 November, This page was last edited on 19 January 2021, at 19:12. (Parallel rate soars to over 600 revalued dollars per 1 US dollar). 58,886,562,526.04 (29th); 488,452,876,313 (OMIR for 24th); In November 2005, the regular currency auctions were discontinued and the RBZ announced that "market factors" would control the exchange rate. 316.56 (22nd) On 1 March 2008, it was reported that documents obtained by The Sunday Times showed that the Munich company Giesecke & Devrient (G&D) was receiving more than €500,000 (£381,562) a week for delivering bank notes equivalent to Z$170 trillion a week. [54], In June 2015, the Reserve Bank of Zimbabwe began to formally demonetise the Zimbabwean dollar, to officially value the fiat currency at zero, in order to complete a switch to the US dollar by the end of September 2015. 509,148,077,013 (29th am) The Reserve Bank of Zimbabwe responded to the dwindling value of the dollar by repeatedly arranging the printing of further banknotes,[43][44][45][46][47] often at great expense from overseas suppliers. 619.52 (30th), 790,510 ‡; 1,000,000[159] (1st) The main illustration on the obverse of all of the banknotes was the Chiremba Balancing Rocks in Epworth, Harare, which were used as a metaphor demonstrating the importance of balancing development and the preservation of the fragile environment. As a result, in both the official and parallel markets, the currency's value eroded rapidly over the years, and by July 2006, the parallel market value of the Zimbabwean dollar fell to Z$1,000,000 = GBP £1. 550 (1 August); 650 (3 August); 650 to 700 (24 August), 1 August: RBZ revalues the Zim dollar. 36,844,444 (23rd) 198.93 (13th) [citation needed], —Martin Rupiya, professor of war and security studies, University of Zimbabwe. The second dollar started off with an official rate of 250 and a parallel rate of 550 to the US$. 4,311 (3rd) A brief monetary history: British currency, 1888-1940 South African currency, 1920-1940 Southern Rhodesia currenct, 1940-1956 Rhodesia and Nyasaland currency, 1956-1964 Rhodesia, 1964-1980 241,421,049,361 (OMIR for 16th); They soon began to differ, in overvaluation of the Zimbabwean dollar, increasingly substantially in comparison to less regulated markets such as offshore markets or paper cash freely traded on the streets of Harare, reflected above as Parallel Rates. 843,884,558.82 (4th); 96.43 (19th) 271,915 ‡ (25th) 58.10 (9th) 199.76 (26th); 206.74 (27th) The Reserve Bank of Zimbabwe insists that the two- and five-Zimbabwe dollar notes will not increase overall money supply. 89,826.13 (3rd) 37.15 (1st) 24,000 (22nd[88]); 4,000 (20th[74]); The ZWD is able to fluctuate (from its average rate) in a daily band of: 0% (under US$5 million); 1% (US$5 to 10 million); 1.5% (US$10 to 15 million); or 2% (exceeds US$15 million). 25 US cent denominations were released into circulation and our customer service, unparalleled a trillion, the! 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