Zimbabwean dollar

This article is about the currency used between 1980 and 2009. For the currency used between 2019 and 2024, see Zimbabwean dollar (2019–2024).

Zimbabwean dollar
Banknotes of the fourth dollar (2009)
ISO 4217
CodeZWL
(2009)[a][1]
Subunit0.01
Unit
Symbol$‎
Denominations
Subunit
 1⁄100cent
Banknotes
  • 1st dollar: $2 to $1,000 (banknotes), and $5,000 to $100,000 (bearer cheques)
  • 2nd dollar: 1¢ to $500 million (bearer cheques), and $5 billion to $100 billion in (agro-cheques)
  • 3rd dollar: $1 to $100 trillion
  • 4th dollar: $1, $5, $10, $20, $50, $100, $500
Coins1, 5, 10, 25, 50 cents, 1, 2 dollars (bond coins)
Demographics
User(s)None
(previously  Zimbabwe)[b]
Issuance
Central bankReserve Bank of Zimbabwe
Valuation
Inflation98.0% per day in mid-November 2008 or 8.97×1022% per year. The currency lost half its value every 24 hours and 42 minutes.
 Source[2]
This infobox shows the latest status before this currency was rendered obsolete.

The Zimbabwean dollar (sign: $, or Z$ to distinguish it from other dollar-denominated currencies) was the name of four official currencies of Zimbabwe from 1980 to 12 April 2009. During this time, it was subject to periods of extreme inflation, followed by a period of hyperinflation.[3]

The Zimbabwean dollar was introduced in 1980 to directly replace the Rhodesian dollar (which had been introduced in 1970) at par (1:1), at a similar value to the US dollar. In the 20th century the dollar functioned as a normal currency, but in the early 21st century hyperinflation in Zimbabwe reduced the Zimbabwean dollar to one of the lowest valued currency units in the world. It was redenominated three times (in 2006, 2008 and 2009), with denominations up to a $100 trillion banknote issued.[4] The final redenomination produced the "fourth dollar" (ZWL), which was worth 1025 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.[5][6] In place of the Zimbabwean dollar, currencies including the South African rand, Botswana pula, pound sterling, Indian rupee, euro, Japanese yen, Australian dollar, Chinese yuan, and the United States dollar were used.[7][8]

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. On 5 April 2024, the dollar was removed and replaced with what the authorities called "a structured currency backed by gold", named Zimbabwean gold or the ZiG.


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  1. ^ ISO 4217 Standard definition:
    • "Data Standards, ISO 4217 - Currency Code Maintenance: Get the Correct Currency Code". www.six-group.com. SIX Group. 1 October 2022.
    • "List One: Currency, fund and precious metal codes" (XLS). www.six-group.com. SIX Group. 23 September 2022.
    • "List Two: Fund codes registered with the Maintenance Agency" (XLS). www.six-group.com. SIX Group. 29 August 2018.
    • "List Three: Codes for historic denominations of currencies and funds" (XLS). www.six-group.com. SIX Group. 22 August 2018.
    • "Overview Amendments" (XLSX). www.six-group.com. SIX Group. 23 September 2022.
  2. ^ Hanke, Steve H. (17 November 2008). "New Hyperinflation Index (HHIZ) Puts Zimbabwe Inflation at 89.7 sextillion percent". The Cato Institute. Retrieved 17 November 2008.
  3. ^ Hanke & Kwok (2009). "On the Measurement of Zimbabwe's Hyperinflation" (PDF). Cato.
  4. ^ "Zimbabwe rolls out Z$100tr note". BBC News Online. Retrieved 7 July 2014.
  5. ^ McGee, Patrick (12 June 2015). "Zimbabwe ditches its all but worthless currency". Financial Times.
  6. ^ Mandizha, Tarisai (9 February 2016). "Demonetisation: DPC settles closed banks Zim dollar accounts". NewsDay. Retrieved 8 March 2016.
  7. ^ Hungwe, Brian (6 February 2014). "Zimbabwe's multi-currency confusion". BBC News Online. Retrieved 5 September 2016.
  8. ^ "Zimbabwe to make Chinese yuan legal currency after Beijing cancels debts". The Guardian. Agence France-Presse. 22 December 2015.
  9. ^ newsday (4 July 2019). "RBZ seeks international recognition for Zimdollar". NewsDay Zimbabwe. Retrieved 12 July 2019.