africa: Zimbabwe

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...Zimbabwe - 2024 Zimbabwe Gold Series (ZiG)

Republic of Zimbabwe

Reserve Bank of Zimbabwe (est.1956)

(The King of Funny Money)

Currency : Zimbabwe Gold (ZWG)

This is a new series of banknotes called Zimbabwe Gold (ZiG), launched on 05.04.2024. This new series replaced the Zimbabwe dollar which was last introduced in 2019. The 2019 Dollar series was phased out on 26.04.2024. The new ZiG notes were reportedly released on 08.04.2024.

This new series should have the exchange rate of USD 1 = ZiG13.56. It is not sure if this is still the case since it was released last year. This new structured currency is backed by gold, the Zimbabwe Gold and other precious metals. There are eight notes in this series, with denominations of 1, 2, 5, 10, 20, 50, 100 and 200 ZiG. Zimbabwe currently has a multi-currency system and the majority of the country's transactions are done with the US dollar, and this multi-currency system will remain until 2030.

The purpose of introducing a new currency was due to the continuing depreciation of the Zimbabwe dollar which had an exchange rate of between 30,000 to 40,000 Zimbabwe dollars to one USD. The government is also hoping that the new ZiG currency will become a stabilised currency and thus reduce the dependence of the US dollar.

The design on all the notes are the same albeit different colours. I cannot say that the designs for the notes for this series are sophisticated but it does have the basic security features, like see-through perfect register, security thread and watermark. The note is also printed with a QR code. In addition to the new banknotes series, the central bank also released two coins with the value of quarter and half ZiG. The ZiG currency does not have a subdivision, like Dollar and cent.

Ten ZiG

Governor - Dr John Mushayavanhu (since March 2024)

Watermark - Zimbabwe bird

Dimensions - 150mm x 66mm

Front - The famous Zimbabwean Domboramari or the Money Rock. This is a formation of three boulders that form part of the Chiremba Balancing Rocks, located in the northwestern part of Epworth. A see-through perfect register in the design of a Bateleur Eagle over a five-point star is printed on the top left corner. To the lower bottom right is a QR code.

Back - Gold smelting, with liquid 'white' gold being poured into a gold tray, which is resting on top of presumably twelve gold ingots. I am not sure why the bank did not show the gold in yellowish-orange colour instead in white. White gold has a mixture of other metals such as palladium, nickel or zinc to create a white colour. Obviously white gold is less purer than normal gold.

Twenty ZiG

Watermark - Zimbabwe bird

Dimensions - 156mm x 66mm

...Zimbabwe - $100 2023 Hybrid Reprint

Republic of Zimbabwe

Reserve Bank of Zimbabwe (est.1956)

(The King of Funny Money)

Currency : Dollar (ZWD)

This is a $100 reprint note dated 2023. I believe this is the last issue for this series as on 05.04.2026, the government of Zimbabwe introduced a new currency called Zimbabwe Gold (ZiG). This new currency replaced the current series first introduced in 2019.

This $100 note was first introduced on 06.04.2022. The last $100 note prior to this series was issued in 2009.

Zimbabwe has experienced years of hyperinflation mainly due to poor economy management, and because of this, the government was forced to accept a multi-currency systems, such as the US dollar. About 80% of the country's local transactions are settled with the USD. Despite the government trying to rely on its own currency by issuing a new Zimbabwean dollar in 2019, and also repeated efforts by the authorities to boost confidence, the Zimbabwean dollar continued to decline and lost its value by 80% in 2023. The multi-currency was supposed to end in 2025, but this has now been extended to 2030.

One Hundred Dollars

Matapos Balancing rocks

Front - Like all banknotes issued since 2019, the design on the front depicts the Matapos Balancing rocks near the town of Epworth. The image of the Matapos Balancing rocks have been the main feature on many of its previous series since the early 1980s, except briefly in the 2000s.

Governor - John Panonetsa Mangudya (tenure 2014-2024)

Dimensions - 158mm x 67mm

Watermark - Zimbabwe eagle (Bateleur eagle)

Back - The main feature on the back is a baobab tree and the Great Zimbabwe Ruins Monument. The baobab tree is a native tree in Madagascar, but they are also found in mainland Africa, Southwest Asia and even in northern Australia. This tree is also sometimes known as the 'Upside Down tree' because of its look. During the dry season the tree will lose all the leaves and the care branches resemble the roots of a tree. The shape of the baobab tree is quite unique as you can identify it with a huge trunk. Growing straight up before it branches out with leaves on the top. Next to the baobab tree is the Great Zimbabwe Ruins monument. The ruins are located in the south-eastern hills of Zimbabwe, near lake Mutirikwi. It is believed that the ruins was constructed in the 9th century and was once the capital of a kingdom. This site is listed by UNESCO as a World Heritage Site.

Baobab tree, the Great Zimbabwe Ruins monument

Dimensions - 158.5mm x 66mm

Replacement prefix ZZ

Baobab tree, the Great Zimbabwe Ruins monument

...Zimbabwe - $100 Dated 2020 Hybrid

Republic of Zimbabwe

Reserve Bank of Zimbabwe

Currency : Dollar (ZWD)

Posted below is the latest $100 note issued on 06.04.2022. Based on the previous experience, it is not sure if higher denominations will be issued, and as such, I am not willing to call this the last note of the current series.

Because of the out of control hyperinflation it experienced during the 2000s, the bank ceased printed banknotes after the 2009 series. In 2016, it started to issue Bond Notes of $2 and $5, and in 2019, re commenced issuing Zimbabwe banknotes for circulation. Since then, it has released $2, $5, $10, $20 and $50, and now the $100. I would not be surprised if higher denominations are expected, like the $500 and $1000 at a later date. Given that the value of those $2 and $5 issued in 2019 are not worth the value the paper is printed on, these two notes have since been demonetised.

Is this a hybrid note? I have no evidence to back myself on this, but for this exercise, I have posted this as one until otherwise.

One Hundred Dollars

Dated 2020, Matapos Balancing rocks

Governor - John Panonetsa Mangudya (tenure since 2014)

Dimensions - 157mm x 67mm

Watermark - Zimbabwe eagle (Bateleur eagle)

Back - The main feature on the back is a baobab tree and the Great Zimbabwe Ruins Monument. The baobab tree is a native tree in Madagascar, but they are also found in mainland Africa, Southwest Asia and even in northern Australia. This tree is also sometimes known as the 'Upside Down tree'. The shape of the baobab tree is quite unique as you can identify it with a huge trunk. Growing straight up before it branches out with leaves on the top. The last 2000 ariary 2007 commemorative note issued by Madagascar features the same tree on the front of the note. Next to the baobab tree is the Great Zimbabwe Ruins monument. The ruins are located in the south-eastern hills of Zimbabwe, near lake Mutirikwi. It is believed that the ruins was constructed in the 9th century and was once the capital of a kingdom. This is now listed by UNESCO as a World Heritage Site.

Baobab tree and the Great Zimbabwe Ruins Monument

...Zimbabwe - $50 Dated 2020

Republic of Zimbabwe

Reserve Bank of Zimbabwe

(The King of Funny Money)

Currency : Dollar (ZWD)

Fifty Dollars

Dated 2020, Matapos Balancing rocks near the town of Epworth

This note is dated 2020 but released on 06.07.2021. The design on the front is the same as those previously released since 2019. On the front, it depicts the Matapos Balancing rocks near the town of Epworth.

On the back, the design of this note depicts the portrait of a sad looking face of Nehanda Charwe Nyakasikana. Nehanda Charwe Nyakasikana was a spirit medium. She was one of the leaders that revolted against the British colonisation of Zimbabwe. She was captured by the British and executed in 1898, aged 58. In the background is the Tomb of the Unknown soldiers. I suppose this note honoured her and those unknown soldiers for their courage and bravery for standing up to the more powerful enemies at the time. Imagine you only had stones and sticks against the invaders with guns and cannons.

Governor - Dr John Panonetsa Mangudya (since 01.05.2014)

Dimensions - 156.5mm x 67.5mm

Nehanda Charwe Nyakasikana, Tomb of the Unknown soldiers

...Zimbabwe - $10 and $20 Dated 2020 Hybrid

Republic of Zimbabwe

Reserve Bank of Zimbabwe

(The King of Funny Money)

Currency : Dollar (ZWD)

These two notes of $10 and $20 were reportedly released in June 2020. These are the 3rd and 4th notes released since 2019 and without the words "Bond Note" printed on, like those $2 and $5 notes issued in 2016.

These two notes are both dated 2020. The design on the front for both notes are basically the same as those previously issued, with the Matapos Balancing rocks near the town of Epworth, about 17 kilometers southeast of Harare. These rocks are located at the Matapos National Park. The rocks' formation are of natural occurrence and became popular when the Reserve Bank of Zimbabwe started using the images on the front of their banknotes. The rocks that are depicted on the notes are known as Chiremha Balancing rocks.

On the back, the $10 features the Reserve Bank's building, Cape buffaloes and the $20 features an elephant and the world famous Victoria Falls as the background. Victoria falls is located between the towns of Victoria Falls (Zimbabwe) and Livingstone (Zambia). The town Livingstone was named after a Scottish Explorer David Livingstone and Victoria Falls was named after Queen Victoria. Victoria Falls is located between the borders of Zambia and Zimbabwe.

These two notes are reported to be printed on Hybrid materials.

Governor - Dr John Panonetsa Mangudya (since 01.05.2014)
Imprinter - Giesecke & Devrient (G&D)
Dimensions - 157mm x 66mm

Ten Dollars

Dated 2020, Chiremha Balancing rocks

Reverse - Reserve Bank of Zimbabwe building, Cape Buffaloes

Twenty Dollars

Dated 2020, Chiremha Balancing rocks

Reverse - elephant, Victoria Falls

...Zimbabwe - $2 and $5, 2019 Hybrid Notes

Republic of Zimbabwe

Reserve Bank of Zimbabwe

(The King of Funny Money)
Currency : Dollar (ZWD)

Below are the most recent two notes issued by the RBZ of $2 and $5. These two notes replaced the previous two Bond notes issued in 2016. The designs for these two notes are the same as those issued in 2016 except that the words "Bond Note" have been omitted on the front and back of the notes. These two notes are both dated 2019 and both were released for circulation on 12.11.2019.

These two notes have been reported to be printed on Hybrid materials.

Governor - John Panonetsa Mangudya (since 01.05.2014)
Dimensions: 157mm x 67mm

Two Dollars (Hybrid)

Dated 2019, Matapos Balancing rocks in Epworth

Reverse - Torch of Independence monument, Parliament House

Five Dollars (Hybrid)

Dated 2019

Reverse

Zimbabwe - $2 and $5, 2016 Bond Issues

The King of Funny Money

These are two Bond notes issued in late 2016 ($2) and early 2017 ($5). Zimbabwe on 12.04.2009 abandoned its own currency to end hyperinflation and commenced using foreign currencies such as US Dollar, South Africa Rand, Euro, British Pound, Botswana Pula, Indian Rupee and even the Chinese Yuan and Australian Dollar as legal tender (some of these foreign currencies were added on later). These Bond notes are redeemable for all these foreign currencies or can be used as normal day to day transactions. However these Bond notes are not legal tender outside the country. The value of these Bond notes are at parity with the US$ when it was first issued.

The Zimbabwe inflation crisis started in the late 90s when President Robert Mugabe removed white farmers and replaced them with blacks farmers. Unfortunately due to lack of experience in managing these farms, the production dropped and so does foreign incomes too. To overcome this, the government decided to print more money to pay for their bills. Now, any Economist out there will tell you that this will not work unless you have the foreign reverse to back this up. Whilst this is bad to the country, it was a haven to collectors, including myself. Since 2006, a total of 70 notes were issued from 1 cent to 100 Trillion dollars. I still do not understand why they even bother to print those lower denomination notes such as the 1, 5, 10, 50 cents and even the $1 when the values do not even worth the paper printed on.

The issue of these Bond notes was authorised by the President Robert Mugabe on 07.11.2016 to tackle the shortage of cash in the country. The country spent more than it raised, much of it on imports causing the outflow of US$ out of the country. These new Bond notes were backed by US$200 million held in actual reserve when they were issued. To the locals, the nickname for the Bond note is called "Bollars". Interesting to note that Zimbabwe was once called the food basket of Southern Africa.

Since the release of the Bond notes at the end of last year, the dollars are losing its value. The local businesses are so worrying that as these new Bond notes have no value outside the country, it may lead to the drop in value. Some shops which are desperate for hard currency, are offering discounts on their goods, some up to 50% if payments are made by US$. Old habits die hard!

Signature: Governor Dr John Mangudya

Two Dollars (Bond Note)

Dated 2016, P99, issued in November 2016

Reverse

Five Dollars (Bond Note)

Dated 2016 (2017), P100

Reverse

$2 - 5,000,000 pieces ($10,000,000) Issued on 28.11.2016;
$5 - 3,000,000 pieces ($15,000,000) Issued on 02.02.2017.

Added on 15.04.2020
I have added these two $2 and $5 Bond Notes, first issued on 28.11.2016. I believe these are printed by a difference imprinter from those first issued in 2016. Apart from this I do not have any other info available to confirm this. The most visible differences are the fonts on the serial number. If you look closely and compare with serial numbers of 0, 6 and 9, you will see that the fonts are not the same. In view of this, this deserved to be mentioned and catagorised as another variety. The notes have since been replaced by the two notes of $2 and $5 both issued in late 2019.

Two Dollar Bond Note

Dated 2016, second print

Reverse

Five Dollars Bond Note

Dated 2016

Reverse

Zimbabwe - 1 cent dated 1st August 2006

One Cent, Dated 2006 P33

Just out of curiosity.

We all know that the Zimbabwe 1 cent note dated 1st August 2006 was a hyperinflation note, which is now worthless in term of monetary buying power. However one has to agree that every banknotes issued do have some form of buying power, but whether this note can get you any goods or services in Zimbabwe back in 2006, only the Zimbabweans can tell. The reason I posted this message is that most low denomination notes printed usually come in a relatively small size, unless we are talking about some very old notes issued in the early 20th century.

For this Zimbabwe 1 cent note, it has the dimensions of 152mm x 78mm. This note is larger than the Australia $5 polymer (130mm x 65mm) or the Malaysia RM50 2009 print (141mm x 70mm) or even the Scotland Clydesdale Bank PLC £5 note (130mm x 70mm).

I wonder what was the reason of printing such a note in that size especially knowing the it would be worthless the moment the note is released to the public for circulation. Perhaps there is a simple answer to this! For me, I have no idea.

You can view the rest of the series here