Zimbabwean bonds: Difference between revisions
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==Coins== |
==Coins== |
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{{Main|Zimbabwean bond coins}} |
{{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| |
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> |
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==Notes== |
==Notes== |
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{{Main|Zimbabwean bond notes}} |
{{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| |
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|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|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}}</ref> |
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==References== |
==References== |
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Revision as of 23:49, 20 January 2021
 Zimbabwe 1-dollar bond coin | |
| Unit | |
|---|---|
| Symbol | $ |
| Denominations | |
| Subunit | |
| 1/100 | cent |
| Banknotes | $2, $5 |
| Coins | 1¢, 5¢, 10¢, 25¢, 50¢, $1 |
| Demographics | |
| User(s) |  Zimbabwe |
| Issuance | |
| Central bank | Reserve Bank of Zimbabwe |
| Valuation | |
| Pegged by |  U.S. Dollar |
Zimbabwean Bonds are a form of legal tender near money released by the Reserve Bank of Zimbabwe which attempts to resolve Zimbabwe's lack of currency. Bonds are 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
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]
Notes
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
- ^ 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. "Zimbabwe's issuing new 'bond notes' to avoid a cash crunch". CNBC. Retrieved 1 May 2017.
- ^ Rahman Alfa Shaban, Abdur. "Zimbabwe introduces fresh $5 bond notes to ease cash crunch". Africa News. Retrieved 1 May 2017.
- ^ "RBZ rules out $10, $20 bond notes". News24. Retrieved 1 May 2017.