Time Period: 1891-1940
Timeline
- 08.09.1891
- Ordinance [No. 3] on the adoption of coinage, weights and measures of the Cape Colony to the Mashonaland protectorate of the British South Africa Company (BSAC); effective immediately.
- 08.02.1894: Ordinance [No. 6], extended the scope of applicability of the 1891 ordinance to all other BSAC possessions in Northern and Southern Zambezia (Rhodesia) and British Central Africa (Nyasaland); effective immediately.
Time Period: 1940-1954
Currency: Southern Rhodesian Pound
- Transition
- 1 : 1 South African Pound
- Sub-units
- Pound / 20 Shillings / 12 Pence
- ISO4217
- none (informal: RHS)
Timeline
- 18.11.1938
- Law [Southern Rhodesia Coinage and Currency Act, No. 32] on the creation of a common currency for Southern Rhodesia, Northern Rhodesia, and Nyasaland under the South Rhodesian Currency Board; effective upon constitution of the board on 03.01.1939
- 01.03.1940
- Start of currency exchange:
- 01.03.1940: Start of issuance of the new banknotes
- ??.??.????: Demonetization of the South African currency.
Valuation Regimes
- 1940-1954
- Fixed rate against British Pound
Rate Arrangements
- 01.03.1940
- Fixed
- British Pound at 1 : 1
- ±0.0%
Time Period: 1954-1964
Currency: Central African Pound
- Transition
- 1 : 1
- Sub-units
- Pound / 20 Shillings / 12 Pence
- ISO4217
- none (informal: RHF)
Timeline
- ??.??.1954
- Law [Rhodesia and Nyasaland Coinage and Currency Act, No. 5] on the creation of a common currency for the Central African Federation of Rhodesia and Nyasaland under the Central African Currency Board; effective upon constitution of the board on 12.03.1954
- 02.03.1956
- Law [Bank of Rhodesia and Nyasaland Act, No. 2] on the transformation of the currency board into the central bank; effective upon constitution of the bank on 01.04.1956
- 12.03.1954
- Start of currency exchange:
- 12.03.1954: Start of issuance of the new banknotes
- 31.12.1954: Demonetization of the Southern Rhodesian currency.
Valuation Regimes
- 1954-1964
- Fixed rate against British Pound
Rate Arrangements
- 12.03.1954
- Fixed
- British Pound at 1 : 1
- ±0.0%
Time Period: 1964-1970
Currency: Rhodesian Pound
- Transition
- 1 : 1
- Sub-units
- Pound / 20 Shillings / 12 Pence (and Pound / 200 Cents)
- ISO4217
- none (informal: RHP)
Timeline
- ??.05.1964
- Law [Reserve Bank of Rhodesia Act, No. 24] on the establishment of the central bank and the creation of a national currency; effective upon constitution of the bank on 16.11.1964
- 16.11.1964
- Start of currency exchange:
- 16.11.1964: Start of issuance of the new banknotes and coins
- 30.05.1965: Demonetization of the Central African and Southern Rhodesian currencies.
Valuation Regimes
- 1964-1967
- Fixed rate against British Pound
- 1967-1970
- Fixed rate against US Dollar
Rate Arrangements
- 16.11.1964
- Fixed
- British Pound at 1 : 1
- ±0.0%
- 18.11.1967
- Fixed
- US Dollar at 2.80 : 1
- ±0.0%
Time Period: 1970-2006
Currency: 1st Zimbabwean (Rhodesian) Dollar
- Transition
- 1 : 1
- Sub-units
- Dollar / 100 Cents
- ISO4217
- RHD (1970-1980)
ZWD (1980-)
Timeline
- 16.05.1967
- Law [Decimal Currency Act, No. 20 (cap. 22:04)] on the currency reform and decimalization; effective 17.02.1970
- 17.02.1970
- Start of currency exchange:
- 17.02.1970: Start of issuance of the new banknotes and coins
- ??.??.????: Demonetization of the former currency.
- 18.04.1980
- Start of currency exchange after the proclamation of the Republic of Zimbabwe:
- 02.05.1980: Name change to "Reserve Bank of Zimbabwe" from "Reserve Bank of Rhodesia"
- ??.??.1980: Change [ISO-4217 Amendment No. 2] of the ISO 4217 currency code from "RHD" into "ZWD"
- ??.??.1981: Start of issuance [Statutory Order No. 378 ?] of Zimbabwean banknotes and coins
- ??.??.1981: Demonetization [Statutory Order No. 378 ?] of the Rhodesian currency.
- 2003-2006
- Issuance of cheques as emergency paper money during hyperinflation by the Reserve Bank:
- 01.05.2003: Start of issuance of Traveller's Cheques with unlimited validity in denominations up to 100'000 Dollars
- 01.06.2003: Start of issuance of Bearer Cheques with 6 months' validity through the Standard Chartered Bank and Cargill Cotton Group in denominations up to 100'000 Dollars
- 15.09.2003: Start of issuance of Bearer Cheques with limited validity in denominations up to 100'000 Dollars
Valuation Regimes
- 1970-1971
- Fixed rate against US Dollar
- 1971-1980
- Fixed rate against South African Rand
- 1980-2006
- Variable rate, highly inflationary after February 2003
Rate Arrangements
- 17.02.1970
- Fixed
- US Dollar at 1.40 : 1
- ±0.0%
- 20.12.1971
- Fixed
- South African Rand at 1 : 0.875
- ±0.0%
- 24.10.1972
- Fixed
- South African Rand at 1 : 0.84
- +4.1%
- 22.09.1975
- Fixed
- South African Rand at 1 : 0.746
- +12.6%
- 13.10.1977
- Fixed
- South African Rand at 1 : 0.768
- -2.9%
- 03.04.1978
- Fixed
- South African Rand at 1 : 1.24
- -4.8%
- 07.03.1980
- Variable
- initially: South African Rand at 1 : 1.24
- ±0.0%
Time Period: 2006-2008
Currency: 2nd Zimbabwean (New) Dollar
- Transition
- 1 : 1'000
- Sub-units
- Dollar / 100 Cents
- ISO4217
- ZWN
Timeline
- 30.07.2006
- Resolution of the Reserve Bank on the currency redenomination and devaluation ("Operation Sunrise"); effective immediately
- 05.09.2006: Bank resolution not to introduce the official currency code "ZWN" within the country (the code ZWD continued to be used)
- 01.08.2006
- Start of currency exchange:
- 01.08.2006: Start of issuance of Bearer Cheques with limited validity (to the end of the next semester) in denominations up to 500 million Dollars
- 21.08.2006: Demonetization of the former Bearer and Travellers' Cheques (independent of the printed expiry date)
- 20.05.2008: Start of issuance of Bearer Cheques (called "Special Agro Cheques" since originally intended for farmers) with limited validity 31.12.2008 in denominations up to 100 billion Dollars.
Valuation Regimes
- 2006-2008
- Fixed rate against US Dollar, official rate inoperative after September 2007
- 2008
- Variable rate, hyperinflationary
Rate Arrangements
- 01.08.2006
- Fixed
- US Dollar at 1 : 250
- -59.5%
- 07.09.2007
- Fixed
- US Dollar at 1 : 30'000
- -99.2%
- 05.05.2008
- Variable
- initially: US Dollar at 1 : 168'815'000
- -100.0%
Time Period: 2008
Currency: 3rd Zimbabwean (Revalued) Dollar
- Transition
- 1 : 10'000'000'000
- Sub-units
- Dollar / 100 Cents
- ISO4217
- ZWR
Timeline
- 30.07.2008
- Resolution of the Reserve Bank on the currency redenomination and devaluation; effective immediately
- 01.08.2008
- Start of currency exchange:
- 01.08.2008: Start of issuance of banknotes in denominations up to 100 trillion Dollars
- 31.12.2008: Demonetization of the former Bearer Cheques (according to the printed expiry date).
Valuation Regimes
- 2008
- Variable rate, hyperinflationary
Rate Arrangements
- 01.08.2008
- Variable
- initially: US Dollar at 1 : 7.58
- -8.3%
Time Period: 2009
Currency: 4th Zimbabwean Dollar
- Transition
- 1 : 1'000'000'000'000
- Sub-units
- Dollar / 100 Cents
- ISO4217
- none (informal: ZWX)
Timeline
- 29.01.2009
- Resolution of the Reserve Bank on the currency redenomination and devaluation and introduction of a parallel multi-currency system where foreign currencies are freely accepted; effective immediately
- 29.01.2009: Bank resolution not to introduce the official currency code "ZWL" due to the impending suspension of the Zimbabwean currency (the code ZWR continued to be used)
- 03.02.2009
- Start of currency exchange:
- 03.02.2009: Start of issuance of banknotes in denominations up to 500 Dollars
- 30.06.2009: Scheduled demonetization of the former currency, not implemented due to the suspension of the Zimbabwean currency on 12.04.2009.
- 12.04.2009
- Law [Finance Act, No. 2] on public finance; §17 suspended the Zimbabwean currency, replaced by a multi-currency system where foreign currencies are freely accepted (with the US Dollar serving as reference); effective 01.01.2009 (retroactive and revoking the introduction of the currency reform of February 2009)
- Valid for 2009, subsequently extended on a yearly base.
Valuation Regimes
- 2009
- Variable rate, highly inflationary
Rate Arrangements
- 03.02.2009
- Variable
- initially: US Dollar at 1 : 22
- -99.9%
Time Period: 2009-2019
Timeline
- 28.08.2009
- Official rating of the suspended currency at 1 US Dollar = 361.62 Zimbabwean Dollars (2009)
- 09.04.2009: Last rating at 1 US Dollar = 249.40 Zimbabwean Dollars (2009).
- 18.12.2014
- Start of issuance of subsidiary coins denominated in US Dollars by the Reserve Bank
- Referred to as "Bond Coins" as their production was financed through a government bond
- 11.06.2015
- Reserve Bank announcement of the definitive abolition of the Zimbabwean currency; effective 30.09.2015:
- Cash was exchanged at 1 US Dollar = 250 Zimbabwean Dollars (2009) = 250'000'000'000'000 Zimbabwean Dollars (2008)
- Accounts were converted at 1 US Dollar = 35'000 Zimbabwean Dollars (2009) = 35'000'000'000'000'000 Zimbabwean Dollars (2008).
- 28.11.2016
- Start of issuance of paper money denominated in US Dollars ("Bond Notes") for use in parallel with United States banknotes
Time Period: 2019-2024
Currency: 5th Zimbabwean Dollar
- Transition
- 1 : 1 US Dollar
- Sub-units
- Dollar / 100 Cents
- ISO4217
- ZWL