Zimbabwean bonds: Difference between revisions
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{{short description|Form of legal tender near money}} |
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{{Merge from |Zimbabwean bond coins|date=May 2017}} |
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{{Infobox currency |
{{Infobox currency |
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| obsolete = yes |
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| obsolete_notice=1 |
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| image_1 = File:ZimbabweUSD1.jpg |
| image_1 = File:ZimbabweUSD1.jpg |
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| image_width_1 =150px |
| image_width_1 = 150px |
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| image_title_1 =Zimbabwe 1 |
| image_title_1 = Zimbabwe 1-dollar bond coin |
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| iso_code = |
| iso_code = none |
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| iso_number = |
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| subunit_name_1 = [[cent (currency)|cent]] |
| subunit_name_1 = [[cent (currency)|cent]] |
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| symbol = [[Dollar sign|$]] |
| symbol = [[Dollar sign|$]] |
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|used_banknotes = $2, $5 |
| used_banknotes = $2, $5 |
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|used_coins = 1¢, 5¢, 10¢, 25¢, 50¢, $1 |
| used_coins = 1¢, 5¢, 10¢, 25¢, 50¢, $1, $2 |
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| subunit_ratio_1 = 1 |
| subunit_ratio_1 = {{frac|1|100}} |
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| banknote_article = Banknotes of Zimbabwe |
| banknote_article = Banknotes of Zimbabwe |
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| using_countries = {{flag|Zimbabwe}} |
| using_countries = {{flag|Zimbabwe}} |
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| issuing_authority = [[Reserve Bank of Zimbabwe]] |
| issuing_authority = [[Reserve Bank of Zimbabwe]] |
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| inflation_rate = |
| inflation_rate = |
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|pegged_by={{Flagicon|US}} [[U.S. Dollar]] |
| pegged_by = {{Flagicon|US}} [[United States dollar|U.S. Dollar]] |
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| inflation_source_date => |
| inflation_source_date = > |
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}} |
}} |
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'''Zimbabwean Bonds''' |
'''Zimbabwean Bonds''' were a form of [[legal tender]] [[near money]] released by the [[Reserve Bank of Zimbabwe]] which attempts to resolve [[Zimbabwe]]'s lack of currency. Bonds and were pegged against the [[U.S. dollar]] at a 1:1 fixed exchange rate and backed by the country's reserve. Since abandoning the [[Zimbabwean dollar]] in 2009 after it went into [[Hyperinflation in Zimbabwe|hyperinflation]] the country began using a number of foreign currencies including the U.S. dollar, [[South African rand]], [[British pound]] and [[Chinese yuan]] as a means of exchange. The inability to print these currencies led to a shortage of money with banks issuing limits on withdrawals. |
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==Coins== |
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Similar in denomination to the U.S dollar bonds include 1¢, 5¢, 10¢, 50¢ and $1 dollar coins as well as $2 and $5 bond notes. |
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{{Main|Zimbabwean bond coins}} |
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On 18 December 2014 the Reserve Bank of Zimbabwe began issuing so-called 'bond coins' which were supported by a US$50 million facility extended to the Reserve Bank of Zimbabwe by [[African Export–Import Bank|Afreximbank]] (the African Export–Import Bank).<ref>{{cite web|last1=Staff Reporter|title=RBZ says bond notes launch Monday|url=http://www.newzimbabwe.com/news-33463RBZ+says+bond+notes+launch+Monday/news.aspx|publisher=New Zimbabwe|access-date=1 May 2017}}</ref> Pegged against the U.S. dollar coins were denominated at 1, 5, 10, and 25 [[Cent (currency)|cents]] and later followed by a 50-cent coin in 2015.<ref>{{cite web|title=Zimbabweans suspicious of new 'bond coins'|url=http://www.timeslive.co.za/africa/2014/12/22/zimbabweans-suspicious-of-new-bond-coins|website=Times Live|publisher=Times Media Group|access-date=1 May 2017|location=Johannesburg, South Africa|date=22 December 2014}}</ref> A [[bi-metallic coin|bi-metallic]] one-dollar bond coin was released on 28 November 2016.<ref>{{Cite web|url=http://www.herald.co.zw/bond-notes-finally-out/|title=Bond notes finally out {{!}} The Herald|website=www.herald.co.zw|language=en-US|access-date=1 May 2017}}</ref> A bi-metallic two-dollar bond coin was released into circulation in 2018. |
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in 2024 the [[Zimbabwe Gold|Zimbabwe gold]] was introduced and replaced the [[Zimbabwean dollar|Zimbabwe dollar]]. |
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==History== |
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Since abandoning the [[Zimbabwean dollar]] in 2009 after it went into [[Hyperinflation in Zimbabwe|hyperinflation]] the country began using a number of foreign currencies including the [[United States dollar|U.S. dollar]], [[South African rand]], [[Pound sterling|British pound]] and [[Renminbi|Chinese yuan]] as a means of exchange. The inability to print these currencies led to a shortage of money with banks issuing limits on withdrawals. |
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on 18 December 2014 the Reserve Bank of Zimbabwe began issuing so called 'bond coins' which were supported by a US$50 million facility extended to the Reserve Bank of Zimbabwe by [[African Export–Import Bank|Afrexim Bank]].<ref>{{cite web|last1=Staff Reporter|title=RBZ says bond notes launch Monday|url=http://www.newzimbabwe.com/news-33463RBZ+says+bond+notes+launch+Monday/news.aspx|publisher=New Zimbabwe|accessdate=1 May 2017}}</ref> Pegged against the U.S. dollar coins were denominated at 1, 5, 10, and 25 [[Cent (currency)|cents]] and later followed by a 50 cent coin in 2015<ref>{{cite web|title=Zimbabweans suspicious of new 'bond coins'|url=http://www.timeslive.co.za/africa/2014/12/22/zimbabweans-suspicious-of-new-bond-coins|website=Times Live|publisher=Times Media Group|accessdate=1 May 2017|location=Johannesburg, South Africa|date=22 December 2014}}</ref> A bimetallic 1 Dollar bond coin was released on 28 November 2016<ref>{{Cite web|url=http://www.herald.co.zw/bond-notes-finally-out/|title=Bond notes finally out {{!}} The Herald|website=www.herald.co.zw|language=en-US|access-date=1 May 2017}}</ref> |
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In November 2016 backed by a US$200 million African Export-Import Bank loan the Reserve Bank of Zimbabwe began issuing $2 bond notes'.<ref>{{cite web|url=https://www.cnbc.com/2016/11/28/zimbabwes-issuing-new-bond-notes-to-avoid-a-cash-crunch.html|title=Zimbabwe’s issuing new ‘bond notes’ to avoid a cash crunch|website=[[CNBC]]|last1=Crabtree|first1=Justina|accessdate=1 May 2017}}</ref> Two months later US$15 million worth of new 5 dollar bond notes were also released.<ref>{{cite web|url=http://www.africanews.com/2017/02/03/zimbabwe-introduces-fresh-5-bond-notes-to-ease-cash-crunch//|title=Zimbabwe introduces fresh $5 bond notes to ease cash crunch|website=Africa News|last1=Rahman Alfa Shaban|first1=Abdur|accessdate=1 May 2017}}</ref> Further plans for a $10 and $20 bond notes were ruled out by the central bank's governor John Mangudya.<ref>{{cite web|url=https://www.dailynews.co.zw/articles/2017/03/05/rbz-rules-out-10-20-bond-notes|title=RBZ rules out $10, $20 bond notes|website=News24|accessdate=1 May 2017}}</ref> |
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==Coins== |
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{| class="wikitable" |
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!Denomination |
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!Year |
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!Obverse |
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!Reverse |
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!Weight |
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!Diameter |
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!Material |
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!{{Abbr|Ref.|Reference}} |
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|- |
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|1 Cent Bond Coin |
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|2014 |
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|RBZ in various positions with coin date centered |
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|Enclosed in circle with "1" surrounded by "ONE CENT BOND COIN" |
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|2.45 g |
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|17 mm |
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|Copper-plated steel |
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| rowspan="5" |<ref>{{Cite book|title=2017 Standard Catalog of World Coins, 2001-Date|last=Michael|first=Thomas|publisher=Krause Publications|year=2016|isbn=978-1440246555|location=|pages=1392}}</ref> |
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|- |
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|5 Cents Bond Coin |
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|2014 |
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|RBZ in various positions with coin date centered |
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|Enclosed in circle with "5" surrounded by "FIVE CENTS BOND COIN" |
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|2.85 g |
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|18 mm |
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|Brass-plated steel |
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|- |
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|10 Cents Bond Coin |
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|2014 |
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|RBZ in various positions with coin date centered |
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|Enclosed in circle with "10" surrounded by "TEN CENTS BOND COIN" |
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|3.80 g |
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|20 mm |
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|Brass-plated steel |
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|- |
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|25 Cents Bond Coin |
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|2014 |
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|RBZ in various positions with coin date centered |
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|Enclosed in circle with "25" surrounded by "TWENTY-FIVE CENTS BOND COIN" |
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|4.80 g |
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|23 mm |
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|Nickel-plated steel |
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|- |
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|50 Cents Bond Coin |
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|2014 |
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|RBZ in various positions with coin date centered |
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|Enclosed in circle with "50" surrounded by "FIFTY CENTS BOND COIN" |
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|6.00 g |
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|25 mm |
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|Nickel-plated steel |
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|- |
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|1 Dollar Bond Coin |
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|2016 |
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|RBZ in various positions with coin date centered |
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|Enclosed in circle with "1$" surrounded by "ONE DOLLAR BOND COIN" |
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|9.06 g |
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|28 mm |
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|Brass ring with a nickel-plated steel center plug |
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| |
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|} |
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==Notes== |
==Notes== |
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{{Main|Zimbabwean bond notes}} |
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In November 2016 backed by a US$200 million Afreximbank loan the [[Reserve Bank of Zimbabwe]] began issuing $2 bond notes.<ref>{{cite web|url=https://www.cnbc.com/2016/11/28/zimbabwes-issuing-new-bond-notes-to-avoid-a-cash-crunch.html|title=Zimbabwe's issuing new 'bond notes' to avoid a cash crunch|website=[[CNBC]]|last1=Crabtree|first1=Justina|date=28 November 2016 |access-date=1 May 2017}}</ref> Two months later US$15 million worth of new $5 bond notes were also released.<ref>{{cite web|url=http://www.africanews.com/2017/02/03/zimbabwe-introduces-fresh-5-bond-notes-to-ease-cash-crunch//|title=Zimbabwe introduces fresh $5 bond notes to ease cash crunch|website=Africa News|last1=Rahman Alfa Shaban|first1=Abdur|date=3 February 2017 |access-date=1 May 2017}}</ref> Further plans for $10 and $20 bond notes were ruled out by the central bank's governor, John Mangudya.<ref>{{cite web|url=https://www.dailynews.co.zw/articles/2017/03/05/rbz-rules-out-10-20-bond-notes|title=RBZ rules out $10, $20 bond notes|website=News24|access-date=1 May 2017|archive-date=5 March 2017|archive-url=https://web.archive.org/web/20170305142959/https://www.dailynews.co.zw/articles/2017/03/05/rbz-rules-out-10-20-bond-notes|url-status=dead}}</ref> |
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{| class="wikitable" |
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!Value |
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!Year |
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!Color |
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!Dimensions (milimeters) |
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!Front Design |
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!Back Design |
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!{{Abbr|Ref.|Reference}} |
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|- |
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|2 Dollars Bond Note |
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|2016 |
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|Green |
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|155 x 62 mm |
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|Chiremba [[Balancing Rocks|balancing rocks]] in Epworth |
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|[[National Heroes Acre (Zimbabwe)|Eternal Flame of Independence monument]] and Parliament House in Harare |
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| rowspan="2" |<ref>[http://banknotenews.com/files/307b167b0ef12ba0af6c96d0ce041053-4171.php Zimbabwe new 2-dollar bond note (B190) confirmed] Banknote News (banknotenews.com). December 29, 2016. Retrieved on 2017-05-07.</ref><ref>[http://banknotenews.com/files/a503155d032a2cb3ce375df7e69d9b7f-4288.php Zimbabwe new 5-dollar bond note (B191) confirmed] Banknote News (banknotenews.com). March 7, 2017. Retrieved on 2017-05-07.</ref> |
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|- |
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|5 Dollars Bond Note |
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|2017 |
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|Purple |
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|155 x 66 mm |
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|[[Balancing Rocks|Epworth Balancing Rocks]] |
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|Three [[Giraffe|giraffes]] next to trees |
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|} |
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==References== |
==References== |
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{{Reflist|30em}} |
{{Reflist|30em}} |
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{{Economy of Zimbabwe}} |
{{Economy of Zimbabwe}} |
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{{dollar}} |
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{{Authority control}} |
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[[Category:Currencies of Zimbabwe]] |
[[Category:Currencies of Zimbabwe]] |
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[[Category:Economy of Zimbabwe]] |
[[Category:Economy of Zimbabwe]] |
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[[Category:Dollar]] |
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Latest revision as of 02:36, 13 October 2024
 Zimbabwe 1-dollar bond coin | |
| ISO 4217 | |
|---|---|
| Code | none |
| Unit | |
| Symbol | $ |
| Denominations | |
| Subunit | |
| 1⁄100 | cent |
| Banknotes | $2, $5 |
| Coins | 1¢, 5¢, 10¢, 25¢, 50¢, $1, $2 |
| Demographics | |
| User(s) |  Zimbabwe |
| Issuance | |
| Central bank | Reserve Bank of Zimbabwe |
| Valuation | |
| Pegged by |  U.S. Dollar |
| This infobox shows the latest status before this currency was rendered obsolete. | |
Zimbabwean Bonds were a form of legal tender near money released by the Reserve Bank of Zimbabwe which attempts to resolve Zimbabwe's lack of currency. Bonds and were pegged against the U.S. dollar at a 1:1 fixed exchange rate and backed by the country's reserve. Since abandoning the Zimbabwean dollar in 2009 after it went into hyperinflation the country began using a number of foreign currencies including the U.S. dollar, South African rand, British pound and Chinese yuan as a means of exchange. The inability to print these currencies led to a shortage of money with banks issuing limits on withdrawals.
Coins
[edit]On 18 December 2014 the Reserve Bank of Zimbabwe began issuing so-called 'bond coins' which were supported by a US$50 million facility extended to the Reserve Bank of Zimbabwe by Afreximbank (the African Export–Import Bank).[1] Pegged against the U.S. dollar coins were denominated at 1, 5, 10, and 25 cents and later followed by a 50-cent coin in 2015.[2] A bi-metallic one-dollar bond coin was released on 28 November 2016.[3] A bi-metallic two-dollar bond coin was released into circulation in 2018.
in 2024 the Zimbabwe gold was introduced and replaced the Zimbabwe dollar.
Notes
[edit]In November 2016 backed by a US$200 million Afreximbank loan the Reserve Bank of Zimbabwe began issuing $2 bond notes.[4] Two months later US$15 million worth of new $5 bond notes were also released.[5] Further plans for $10 and $20 bond notes were ruled out by the central bank's governor, John Mangudya.[6]
References
[edit]- ^ Staff Reporter. "RBZ says bond notes launch Monday". New Zimbabwe. Retrieved 1 May 2017.
- ^ "Zimbabweans suspicious of new 'bond coins'". Times Live. Johannesburg, South Africa: Times Media Group. 22 December 2014. Retrieved 1 May 2017.
- ^ "Bond notes finally out | The Herald". www.herald.co.zw. Retrieved 1 May 2017.
- ^ Crabtree, Justina (28 November 2016). "Zimbabwe's issuing new 'bond notes' to avoid a cash crunch". CNBC. Retrieved 1 May 2017.
- ^ Rahman Alfa Shaban, Abdur (3 February 2017). "Zimbabwe introduces fresh $5 bond notes to ease cash crunch". Africa News. Retrieved 1 May 2017.
- ^ "RBZ rules out $10, $20 bond notes". News24. Archived from the original on 5 March 2017. Retrieved 1 May 2017.