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'''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 [[United States dollar|U.S. dollar]] at a 1:1 fixed exchange rate and backed by the country's reserve. |
'''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 [[United States dollar|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 [[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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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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==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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{{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|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> |
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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{{Main|Zimbabwean bond notes}} |
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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> |
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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{| 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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|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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|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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|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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|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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{| 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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|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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|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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Revision as of 14:16, 9 May 2017
 | It has been suggested that Zimbabwean bond coins be merged into this article. (Discuss) Proposed since May 2017. |
 Zimbabwe 1 Dollar 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 Afrexim 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 bimetallic 1 Dollar bond coin was released on 28 November 2016[3]
Notes
In November 2016 backed by a US$200 million African Export-Import Bank loan the Reserve Bank of Zimbabwe began issuing $2 bond notes'.[4] Two months later US$15 million worth of new 5 dollar bond notes were also released.[5] Further plans for a $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.