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Dollar (ZimbabweDollar original symbol: ZIM.$ st
forex rebate ea
ard symbol: ZWD) Zimbabwe Dollar (Zimbabwean
) is the currency issued by the Central Bank of Zimbabwe, is the legal tender of Zimbabwe, each dollar is divided into 100 cents (cents), its symbol abbreviated $ or Z$ (with other dollars as the unit of The ripples on the shield symbolize the vast waters of Zimbabwe The lower part of the shield is the world-famous cultural site of Stone Town The upper part of the shield is erected with a five-pointed star and the Zimbabwean bird The bird is a symbol of the aspirations of the country and the nation, as well as a symbol of the ancient culture of Zimbabwe and African countries The lower part of the shield has corn and cotton patterns on the hillside, symbolizing Zimbabwes rich agricultural products and rich mineral resources On both sides are The Zimbabwean antelope ribbon with the words Unity, Freedom, and Labor written in English History of the Zimbabwean dollar The first generation of the Zimbabwean dollar was issued in 1980, replacing the then Rhodesian dollar The Zimbabwean dollars ISO 4217 abbreviation is ZWD In the early years of the currencys existence, the value of one Zimbabwean dollar was higher than that of one U.S. dollar, with an exchange rate of 0.68 Zimbabwean dollars to one U.S. dollar Subsequently, the currency depreciated significantly with national inflation. By July 26, 2006, the exchange rate had fallen to Z$1
to ￡1. In October 2005, Gideon Gono, Chairman of the Reserve Bank of Zimbabwe, announced that the country would issue a new currency in the year after next year (2003), when the Z$/US$ exchange rate would change. Gono did not reveal the name of the new currency until June 2006, when Deputy Finance Minister David Chapfika said that before issuing the new currency, the countrys macroeconomic stability, including the suppression of inflation, would be required. In addition, the government devalued the dollar exchange rate of the new Zimbabwe dollar by 60 percent during the new currencys issuance ISO4217 originally abbreviated the new currency as ZWN, but since the Reserve Bank failed to process the currency change, the abbreviation remained ZWD. However, the currency reform failed to curb inflation and the new currency continued to depreciate sharply, falling to 1 billion ZND per US dollar by June 2008 and reaching 100 billion ZND per US dollar by June 26, while 100 billion ZND is only the equivalent of one loaf of bread in January 2008, when banknotes in denominations of 10 million, 5 million and 1 million ZND were introduced; and on April 4, when banknotes in denominations of 25 million and 50 million ZND were introduced. million and Z$50 million notes; on May 6, Z$100 million and Z$250 million bills were introduced Third Generation Zimbabwe Dollar (2008 version) On August 1, 2008, Zimbabwe issued the third generation of the Zimbabwe Dollar (new agricultural bearer cheque), with one dollar of the new currency being equivalent to Z$10 billion of the previous generation On December 4, three types of notes were introduced in denominations of Z$10 million, Z$50 million and Z$100 million New banknotes; on December 12, 500 million denomination banknotes were introduced; on December 19, 10 billion denomination banknotes were introduced Fourth Generation Zimbabwe Dollar (2009 version) On February 2, 2009, the Central Bank of Zimbabwe decided to remove 12 zeros from the huge banknotes, which means that the third generation of 10,000 billion banknotes will be equal to 1 of the fourth generation Zimbabwe Dollar In August 2009, the Central Bank of Zimbabwe announced the removal of the 10 zeros from the banknotes, but due to hyperinflation rose back up Currently, Zimbabwes inflation rate has reached one billion percentTheZimbabweandollar April 12, 2009 BBC Chinese news, the Zimbabwean government decided to officially suspend the use of the national currency in the next year Previously, the Zimbabwean currency de facto The new Zimbabwean Finance Minister Tendai Biti said in a statement on March 18, 2009 that the death of the national currency, the Zimbabwean dollar, has become a reality and that the Zimbabwean dollar has been dying since October 2008 and is no longer in circulation. The new banknotes were issued at the same time with a face value of Z$1 billion and Z$5 billion December 13, 2008, according to Singapores United Morning Post, Zimbabwe again issued new banknotes, the new face value of Z$500 million, which at first glance seems astronomical, but the actual value of only $10 Zimbabwes central bank governor Gono issued a statement through the state-run Herald newspaper, declaring that the purpose of issuing new banknotes, is to The statement said that the new banknotes with a face value of Z$100 billion began circulation in the market on May 21, 2008. Zimbabwe started issuing the worlds largest denomination of banknotes from May 06, 2008, with two types of banknotes, Z$100 million (about 23,000 yuan) and Z$250 million.