Zimbabwe's
latest iteration of their currency banknotes are called
ZiG for Zimbabwe Gold backed currency, which the Central Bank described as a
Local Currency as this currency will operate in parallel with currencies from
the USA, GB, Japan, etc.
RTGS - Real Time Gross
Settlement Dollars. Released on Wednesday February 20, 2019 their previous BOND
notes continue to circulate but are no longer pegged to the US Dollar and are
intended to trade at 2.5 RTGS Dollars to $1 USD.The first banknotes of
predecessor Southern
Rhodesia (1895) were authorized by the Cape of Good Hope and printed in the
territory in 1896 by the Argus Company for The Standard Bank.
The Marshall Hole Notes (cards with postage stamps)
were used during the currency shortage of the Boer War (1899-1902). Commercial
banknotes then became the legal tender from 1922 -1942. (The 'Rhodesian issue'
of the Standard Bank of South Africa Ltd and Barclays Bank D.C. & O were the
last commercial bank issues).
Currency notes then became the legal tender, issued
by the Southern Rhodesian Currency Board from 1940, the Central Africa Currency
Board from 1953 and the Bank of Rhodesia and Nyasaland from 1956 until 1965.
In 1964, the Reserve Bank of Rhodesia, the Bank of
Zambia and the Reserve Bank of Malawi (as central banks) became individually
responsible for their own countries' banknotes with a decimal currency being
adopted in 1970 by the Reserve Bank of Rhodesia.
The Reserve Bank of Zimbabwe introduced a new
series of banknotes at Independence in 1980.
Banknotes ranged from as small as 9.2 x 5.7cm to as
large as 18.4 x 17.1cm. Colours included shades of green, brown, blue, red,
purple and grey with images on the front and back of portraits of historic
figures, significant scenes or flora and fauna of the country. The 10 shillings,
1 pound and 5 pounds denominations were added to in 1953 with the 10 pound note.
These were replaced by the $1, $2, $5 and $10 notes in the 1970s and the $2, $5,
$10 and $20 notes in the 1980s.
1994-1995 saw the $50 and $100 notes with a new
design format, pastel colours and improved security and handling qualities. New
$5, $10 and $20 banknotes are planned for 1997 and 1998.
In 2009 Zimbabwe began the issue of 10 - 100 Trillion Dollar banknotes.
The official exchange
rate on 31.1.2009 was ZWD 7,039,188,034 per USD $1. The inflation rate for 2008
was reported as 11,200,000%.
A new family of banknotes with the removal of 12 zero's were started to be
issued in mid-February 2009. Denominations of 1,5, 100, 20, 50, 100 and 500
Dollars are planned. These new notes had an interbank exchange rate of ZWD
53.00 to US$1 on 16.2.2009.
It has been reported that the Central Bank issued a notice stating that no
current or previous issues of Zimbabwe currency will be honored, however
currency of any other country can be used in Zimbabwe for the next year.
The above information is from the Zimbabwe
Central Bank website and the
CIA World Factbook. |
