| Zimbabwean bond notes | |
|---|---|
 A two-dollar bond note | |
| Country |  Zimbabwe |
| Issuers | Reserve Bank of Zimbabwe (2014–2024) |
| Denominations | $2, $5, $10, $20, $50, $100 |
Zimbabwean bond notes are a form of banknote in circulation in Zimbabwe. Released by the Reserve Bank of Zimbabwe, the notes were stated to not be a currency in itself but rather legal tender near money pegged equally against the U.S. dollar. In 2014, prior to the release of bond notes, a series of bond coins entered circulation. [1]
In November 2016, backed by a US$200 million loan from the African Export-Import Bank, the Reserve Bank of Zimbabwe began issuing $2 bond notes. [2] Two months later, US$15 million worth of new five-dollar bond notes were also released. [3] Further plans for $10 and $20 bond notes were ruled out by the Reserve Bank's governor John Mangudya. [4] However, in 2020, $10 bond and $20 were introduced. [5] In 2022, the $50 and $100 bond notes were introduced. [6]
The notes were not generally accepted by the Zimbabwean people, [7] [8] so the government tried expanding the electronic money supply and issuing Treasury bills instead. [7] [9]
The bond notes were still in circulation in 2018, although former Finance Minister Tendai Biti said that they should be demonetised, as they were being subject to arbitrage. [10] In the campaigning for the 2018 elections, the bond notes became a political issue, with the MDC Alliance calling for their replacement with 'real cash'. [10]
Despite the notes being notionally pegged to the US dollar, their value, like the former Zimbabwean dollar, is collapsing, with everyday transactions using a rate of $3 bond notes to 1 United States dollar in January 2019 and over $90 bond notes to US$1 as of November 2020. [11] As of August 2022, the conversion rate is $361.9 bond notes to US$1.
| Pick No. | Image | Value | Dimensions | Main colour | Description | Date of [12] | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Obverse | Reverse | Watermark | printing | issue | withdrawal | |||||
| 99 |  |  | $2 | 155 × 62 mm | Green | Domboremari with trees | Eternal Flame at the National Heroes Acre, and the Old Parliament House | Zimbabwe Bird and "RBZ" | 2016 | 28 November 2016 | 11 November 2019 | |
| 100 |  |  | $5 | 155 × 66 mm | Purple | Domboremari with trees | Three giraffes and the Zimbabwe Aloe ( Aloe excelsa ) | Zimbabwe Bird and "RBZ" | 2016 | 3 February 2017 | 11 November 2019 | |
| These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table. | ||||||||||||
In February 2019, the RBZ Governor announced that the bond notes would be part of the "values" that make up the new currency to be added into the Zimbabwean market, the RTGS dollar along with the bond coins and electronic balances. [13]
The economy of Zimbabwe is a gold standard based economy. Zimbabwe has a $44 billion dollar informal economy in PPP terms which translates to 64.1% of the total economy. Agriculture and mining largely contribute to exports. The economy is set to reach $66 billion by end of 2023, 88% increase in forecast from $35 billion.
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The Zimbabwean dollar was the name of four official currencies of Zimbabwe from 1980 to 12 April 2009. During this time, it was subject to periods of extreme inflation, followed by a period of hyperinflation.
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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 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.
The Zimbabwean dollar, also known as the Zimdollar or Real Time Gross Settlement (RTGS) dollar, was the currency of Zimbabwe from February 2019 to April 2024. It was the only legally permitted currency for trade in Zimbabwe from June 2019 to March 2020, after which foreign currencies were legalised again.
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Media related to Money of Zimbabwe at Wikimedia Commons| Preceded by: Zimbabwean dollar Reason: hyperinflation Ratio: 250 ZWL = 1 USD Note: 1st dollar (ZWD): 18 April 1980 to 21 August 2006 2nd dollar (ZWN or 1 000 ZWD): 1 August 2006 to 31 December 2008 3rd dollar (ZWR or 1010 ZWN): 1 August 2008 to 12 April 2009 4th dollar (ZWL or 1012 ZWR): 2 February 2009 to 12 April 2009 | Currency of Zimbabwe 18 December 2014 – present Note: Part of a multiple currency system with hard currencies & Zimbabwean bond coins (since 28 November 2016) | Succeeded by: Current |