Zimbabwean Dollar


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Zimbabwean Dollar

The former currency of Zimbabwe. It replaced the Rhodesian dollar following (official) independence from Britain in 1980 and was used until extreme hyperinflation forced a change to a new currency code in early 2009 and was abandoned in April of that year. Its inflation rate in December 2008 was 6.5 x 10^108%.
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References in periodicals archive ?
35,000,000,000,000,000 Zimbabwean dollars could be exchanged for US$1 as President Robert Mugabe's government discarded its virtually worthless national currency.
Zimbabwe's finance minister has stated that the Zimbabwean dollar is unlikely to return in the near future.
Zimbabwe later moved towards being officially a multicurrency economy, with the Zimbabwean dollar alongside the US dollar and the South African rand.
The pressure on the Zimbabwean dollar continued to build as Zimbabwe's foreign reserves dropped to dangerously low levels.
The United Kingdom's Times observed on February 3 that "Gideon Gono, widely regarded as the world's most disastrous central banker, knocked another 12 zeros off the Zimbabwean dollar yesterday in an attempt to bring the national currency back from the realms of the fantastical.
Mugabe's birthday event, which is reported to have cost $250,000, comes as a new unity government aims to tackle an economic crisis that has rendered the Zimbabwean dollar useless.
The official exchange rate for the Zimbabwean dollar is 250 ZWD for one U.S.
The problem is the revaluation of the Zimbabwean dollar.
The fresh diplomatic blow to the southern African country, where millions face food shortages and the economy is crumbling, came as dealers reported a sharp slide in the Zimbabwean Dollar on the flourishing black market.
The investment comes after Zimbabwe on Monday banned the use of foreign currencies in the southern African country, reintroducing its own currency, the RTGS, or Zimbabwean dollar.
class="MsoNormalZimbabwe ditched its currency, Zimbabwean dollar, for the US dollar years ago.