Banknotes of Zimbabwe
Encyclopedia
The paper money of Zimbabwe
is part of the physical form of Zimbabwe’s four incarnations of the dollar
($ or Z$). The banknotes of the first dollar replaced those of the Rhodesian dollar
at par in 1980 following the proclamation of independence. The primary issuer of Zimbabwean banknotes is the Reserve Bank of Zimbabwe
and has issued many types of currency notes alongside banknotes in its history, including Bearer cheques and Agro cheques ("Agro" being short for Agricultural) in the period between 2003 and 2008. The Standard Chartered Bank
also issued emergency cheques from 2003 to 2004.
The main illustration on the obverse of banknotes issued since 1980 is the Chiremba Balancing Rocks
in Epworth
, Harare
. The rocks were part of the Reserve Bank's emblem, which was used for all Bearer and Agro cheques, which circulated between 15 September 2003 and 31 December 2008. The reverse of dollar notes often illustrate the culture
or landmarks of Zimbabwe.
The second dollar (ZWN) was replaced on 1 August 2008 by the third dollar (ZWR
), which was then phased out by fourth dollar (ZWL) with short notice on 2 February 2009 because it rapidly lost value. The economic and trade sanctions imposed against the Zimbabwean government and the Reserve Bank have made it difficult to incorporate modern security features on most banknotes issued since September 2008.
The banknotes of the third dollar were originally scheduled to be demonetised on 30 June 2009 but the Zimbabwean dollar as a whole has been suspended since 12 April 2009, implying that banknotes of both the third and fourth dollar are not de jure
legal tender.
were issued by the Reserve Bank of Zimbabwe (formerly Reserve Bank of Rhodesia
) for the first dollar (ZWD) in 1980 to coincide with the independence of Zimbabwe. These notes replaced the circulating banknotes of the Rhodesian Dollar
at par. The first series of banknotes ranged from $2 to $20, and were signed by D. Crough, the last Governor of the Reserve Bank of Rhodesia. From 1994 to 1997 the Reserve Bank issued a new series of notes ranging from $2 to $100, although the $2 banknote was withdrawn and replaced by a coin in 1997. As rising inflation
started to affect the purchasing power
of the Zimbabwean Dollar
, the $500 and $1 000 banknotes were issued from 2001 to 2005 with enhanced anti-counterfeiting measures.
The RBZ also issued special traveller's cheques in 2003, with six denominations ranging from $1 000 to $100 000. These were short-lived due to unpopularity with the general public: identification was required both during issue and encashment of such cheques, which could only be used once by the bearer. As usual, banks levied a commission
fee on all of the cheques.
On 15 September 2003, the RBZ and Standard Chartered issued special Bearer cheques with denominations ranging from $5 000 to $20 000. These, and subsequent issues of the first and second dollars were time limit
ed and lacked sophisticated anti-counterfeiting measures which were heavily used in many modern banknotes such as those of the Swiss Franc
. In the first half of 2006 new denominations of $50 000 and $100 000 were issued, with the $1 million denomination being planned for September 2006; it was subsequently never issued.
The time limits were either ignored or extended by multiple decrees, meaning that all notes of these issues remained legal tender in practice until 21 August 2006.
On 1 August 2006 the banknotes of the second dollar (ZWN), with less elaborate designs, replaced those of the first dollar at the ratio of 1 000 to 1. The redenomination
(codenamed Operation Sunrise) was heavily publicised under the banner Zero to Hero, but was also rapid and disorganised which resulted in many people being unable to convert their old Bearer cheques to new issues before the lapse date, The Reserve Bank Governor Dr. Gideon Gono
said that "10 trillion (first dollars) were still out there and it had become manure".
Further denominations ranging from $5 000 to $500 million were issued in the period between August 2006 and May 2008 as cent cheques quickly became outmoded. In the second quarter of 2008, special Agro cheques (Agricultural Cheques) were issued in denominations ranging from $5 billion to $100 billion as the currency exchange rate was floated. Since the functions were similar to Bearer cheques, it was in regular use as prices continue to rise. These cheques also carried time limit
s and limited security features. In the final months of the second dollar, the $200 000 cheque was the lowest legal tender denomination by decree, despite having its expiry date extended twice. The $100 000 000 Bearer Cheque would have been the lowest legal tender
denomination in circulation had the expiry dates of currency
cheques been enforced without extension, with the $100 billion Agro Cheque being the highest whether or not the $200 000 note was legal tender.
Munich
-based security printers Giesecke & Devrient
ceased providing banknote
paper to the Reserve Bank on 1 July 2008 in response to an official request from the German government and widespread calls for sanctions
; The Jura JSP software end-user licence, issued to the state-owned Fidelity Printers & Refiners was also terminated on 24 July 2008 for similar reasons although the official press statement quoted that it was de facto
impossible to prevent the printers from using the software.
On 1 August 2008 the banknotes of the third dollar (ZWR), which were printed for the abandoned second phase of the 2006 redenomination, replaced the cheques of the second dollar at the ratio of 10 billion (1010) to 1. The Bearer and Agro cheques of the second dollar were phased out along with the smaller denominations of the third dollar on 1 January 2009. Despite the reform the Reserve Bank issued several high-value denominations up to $100 trillion ($1014) in the period between September 2008 to January 2009, which merely kept in similar pace with the cash rate instead of the black market rates.
On 2 February 2009, banknotes of the fourth dollar (ZWL) were introduced to replace those of the third dollar at the ratio of one trillion (1012) to 1. It was originally envisaged that banknotes of the third dollar would remain legal tender until 30 June 2009 but all banknotes were withdrawn from circulation following the suspension of the Zimbabwe dollar on 12 April 2009.
near Harare
is the main artwork used for obverse sides of the first two banknote designs of the first Zimbabwean dollar. Notes of these design also feature on either side major landmarks and landscapes such as the Kariba Dam
and fauna. As hyperinflation
took hold at the end of the 20th century the quality of the notes deteriorated as printing plates from previous issues were reconstituted for printing emergency notes. Although the notes of the first design were gradually phased out from 1997, all remaining notes of the first dollar were forcibly demonetised on 22 August 2006.
. They are dated 1980 but issued in 1981 (except for the $20 note, which was issued in 1982). The notes bear Salisbury as the name of its capital rather than Harare
, as the name was changed on 18 April 1982. There are four denominations in this series: $2, $5, $10 and $20; its designs make extensive use of the Guilloché
technique, heavily relied upon by banknotes of many currencies during the 1980s.
The 1982-dated issues banknotes differed little from the earlier, except that it took into account of the renaming of the country's capital from Salisbury to Harare. However, there was an error with early runs of the $10 banknote (Pick
no. 3b), because it bears Salisbury as the name of the capital city instead of Harare. These type of issues are rare. Later runs of the $10 note (Pick no. 3c) corrected the error. There were no $2 banknotes dated 1982: the second run of this denomination was taken in 1983 with K. Moyana as governor of the Reserve Bank.
.
are referred to as the Leonard Tsumba series.
The first banknotes to be issued with his signature was the two last runs of the original designs, dated 1994. The first run, which consisted of denominations
from $2 to $20, had the original watermark
of the Zimbabwe Bird (profile angle, short neck), whilst the second run consisted only of the $2 and $5 denominations, bearing the watermark of the bird with a longer neck and at ¾ profile angle.
In 1994 the general design of the banknotes was reviewed to keep up with advancing technologies against counterfeit
ing, which resulted in the release of two new denominations ($50 and $100) between 1994 and 1995, also to counter the effects of consumer price inflation
, which peaked at 41.6% in 1992. Although the Chiremba Balancing Rocks
were retained, other features including latent imaging in which the letters RBZ can be seen when the banknote is tilted horizontally at the eye level and identification marks for the visually impaired were added to the design, and the neck of the Zimbabwe Bird watermark was longer. The $5, $10 and $20 banknotes were also revised with the new designs in 1997, whilst the $2 banknote was and replaced by a coin in the same year with the $5 denomination undergoing the same process in August 2001.
The $500 denomination was first issued with red as the main colour in 2001. The 2003-dated versions were brown. It was followed by the $1 000 denomination on 2 October 2003, the sole difference between the two variants of the $1 000 notes (Pick
no. 12) only being the typeface of the serial number.
and consisted of only one denomination of the first dollar ($500). This was the last series of regular banknotes of the first dollar, as hyperinflation
forced all regular banknotes series out of use, although remaining legal tender theoretically until 21 August 2006.
(hence the title on the top of these cheques) and the Cargill Cotton Group
. They were authorised by the Reserve Bank as legitimate issues and were valid for six months from the date of issue, the first currency notes of the Zimbabwean dollar to have a time limit. They carry the signature of the company's finance director Priscilla Mutenbwa and operations director Stephen Newton-Howes.
on reverse, were introduced on 1 October 2005. Following the redenomination
of August 2006, bearer cheques that were originally scheduled to expire on 31 December 2006 were demonetised early.
Bearer cheques dated 15 September 2003 bear the signature of the acting governor Charles Chikaura. The remainder of the series bear the signature of Dr. Gideon Gono
, who was appointed governor in November 2003.
was first redenominated
on 1 August 2006 under a currency reform campaign codenamed Operation Sunrise and involving the motto
Zero to Hero. New-style bearer cheques of the second dollar (ISO 4217
:ZWN) was introduced and replaced those of the first dollar (ZWD) at the ratio of 1 000 to 1.
The change over process was given at short notice and was also rapid because all issues prior to the August 2006 series were to be demonetised and rendered worthless on 21 August 2006. Poor communications meant that many civilians of Zimbabwe were unable to convert old bearer cheques to new ones before the deadline.
and were set to expire on 31 July 2007, except for the $100 and $500 cheques, which were initially due to expire on 31 December 2007, but later extended to 31 July 2008. The $5 denomination was also issued, despite not being widely publicised in the changeover campaign.
Two variations that were issued for the $10 000 and $100 000 denominations are recognised in the Standard Catalog of World Paper Money
: the difference between them was the use of digit grouping. Cheques with the denomination expressed as '10000' or '100000' bear serial numbers with the (scarce) prefix AA, while notes with prefixes AB onwards is expressed as '10 000' or '100 000'.
The 2007 bearer cheque series was first issued on 2 March 2007 with the introduction of $5 000 and $50 000 cheques to act as intermediary denominations between the $1 000, $10 000 and $100 000 cheques respectively. As inflation intensified, the $200 000 bearer cheque was also introduced on 1 August 2007, followed by the joint introduction of the $250 000, $500 000, and $750 000 denominations on 20 December 2007. The $200 000 bearer cheque had its date of lapse extended twice up to 31 December 2008.
The $50 000 denomination was the first denomination to use the Optically Variable Ink
technique, on the value positioned at the top right of the obverse. The $750 000 denomination of the December 2007 series was the only note out of all cheques of the second dollar to bear a holographic strip, as the cheque was printed on paper that was prepared for the 1 000 ZWD notes (Pick
No. 12).
The circulation of the 2008 bearer cheque series commenced on 18 January 2008 with three denominations
ranging from $1 million to $10 million, and concluded with the issue of the $500 million bearer cheque on 15 May 2008. Three denominations of the 2008 series remained legal tender
at the ratio of 1010 to 1 until being demonetised on 31 December 2008.
There are two variants of the $10 million denomination, the primary difference being the typeface
and size of the serial number. Those with slightly larger serial numbers bear the prefix DA. The $25 million banknote is larger in dimension out of the rest of the 2008 series.
s, it had found its way into regular use because of the parallel functions with bearer Cheques and the exponential rise of food prices. Following the 2008 currency reform, Agro and bearer cheques were phased out on 1 January 2009.
The four denominations in this series are not the same by dimensions as the $25 billion note used different paper from the 500 ZWD banknote of 2001. The $100 billion ($1011) Agro Cheque was the largest of the second dollar, sharing the record for the most number of zeroes depicted on a banknote with the Yugoslav
500 billion ($5×1011) dinar note of 1993, up until January 2009.
was to be reinstated as the main feature on the obverse whilst use of the Zimbabwe Bird
watermark continued. There were additional security features as opposed to previous issues, which included security thread
s, see-through register marks and recognition marks for the partially sighted. Holographic security threads and Optically Variable Ink
were used on the $100, $500 and $1 000 notes. When the redenomination of 1 August 2008 occurred these notes were put into circulation as banknotes of the third dollar between 1 August 2008 to 31 December 2008.
The 2008 banknote series circulated from 29 September 2008 to 12 April 2009. The series demonstrated the intensity of hyperinflation
during the period as the highest denomination increased from $1 000 to $100 trillion ($1014) by January 2009, the latter being the largest denomination issued by the Reserve Bank. The first issues of the series were the $10 000 and $20 000 denominations. These were followed by the following denominations:
The large number of denominations issued in late-2008 as well as the suspension of paper supply by Giesecke & Devrient
affected the Reserve Bank's ability to maintain the quality of the banknotes. Consequently most design features were copied from the 2007 banknote series and lack many modern security features that were being relied upon by banknotes of major currencies such as those of the Canadian Dollar
. The notes denominated from $20 000 to $500 000 and then from $10 million onwards used non-watermarked paper, whilst the $500 million notes were printed on pure cotton. A silhouette of the Zimbabwe Bird in Optically Variable Ink
was used in such notes to compensate for this but the iridescent strip was dropped for higher denominations. The $10 000 and $1 000 000 notes were printed on paper intended for the $1 000 notes (Pick no. 72), thereby carrying the embedded holographic thread and watermark
. Two types of paper were used on $20 000, $50 000 and $500 000 banknotes.
and an iridescent strip. Most parts of the design were recycled from designs of past issues and do not have a watermark
although a plain space existed in the areas where it would normally be positioned.
s of Zimbabwe. The prefixes used were as follows:
The price and value of a Zimbabwean banknote depend on various factors: the rarity, based on factors such as the name of capital city, how long it was printed, or the type of watermark; its condition, and the national situation at time of issue, such as shortages or hyperinflation. Common designs and variants such as the $100 note of 1995 (Pick
no. 9) are usually valued at about $1 apiece, while rare varieties such as the $10 Salisbury error note (Pick no. 3b) and the Standard Chartered issues are valued at around $100 or more. Zimbabwean banknotes are usually sold by banknote dealers over the counter or on the internet, although the most valued types theoretically qualify for inclusion in auction.
, has long served as a parallel currency on the black market, and many prices in shops would be posted in US dollars, even during periods when it was illegal to possess foreign currency or to transact business in US dollars.
A unique form of circulating specie is the Petrol Coupon, which has been issued in 2005, 2006, 2007 and 2008. Known denominations include 1, 10 and 20 litres of petrol, and translate roughly into the local petrol price (about 1 UK pound sterling per litre or US$1.50 in late 2008). Businesses, including Western Union, have been reported paying employees with these coupons, and even auctions have been transacted in this currency. As with much Zimbabwe currency, printing standards are crude and counterfeiting is rampant; the RBZ has been dissuading this widespread use.
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
is part of the physical form of Zimbabwe’s four incarnations of the dollar
Zimbabwean dollar
The Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009....
($ or Z$). The banknotes of the first dollar replaced those of the Rhodesian dollar
Rhodesian dollar
The dollar was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents.-History:The dollar was introduced on February 17, 1970, less than a month before the declaration of a republic on March 2, 1970. It replaced the pound at a rate of 2 dollars to 1 pound...
at par in 1980 following the proclamation of independence. The primary issuer of Zimbabwean banknotes is the Reserve Bank of Zimbabwe
Reserve Bank of Zimbabwe
The Reserve Bank of Zimbabwe is the central bank of Zimbabwe.-History:The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board....
and has issued many types of currency notes alongside banknotes in its history, including Bearer cheques and Agro cheques ("Agro" being short for Agricultural) in the period between 2003 and 2008. The Standard Chartered Bank
Standard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
also issued emergency cheques from 2003 to 2004.
The main illustration on the obverse of banknotes issued since 1980 is the Chiremba Balancing Rocks
Balancing Rocks
The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without...
in Epworth
Epworth, Zimbabwe
Epworth is a suburb in south-eastern Harare. It is home to some famous balancing rocks.- Background :The bustling suburb is located about twelve kilometers out of the Harare City Centre. It is a high density suburb populated by mainly poor residents of Harare. It is bisected by a stream into two...
, Harare
Harare
Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
. The rocks were part of the Reserve Bank's emblem, which was used for all Bearer and Agro cheques, which circulated between 15 September 2003 and 31 December 2008. The reverse of dollar notes often illustrate the culture
Culture of Zimbabwe
Zimbabwe has many different cultures which may include beliefs and ceremonies, one of them being Shona. Zimbabwe's largest ethnic group is Shona. The Shona people have many sculptures and carvings of gods which are made with the finest materials available....
or landmarks of Zimbabwe.
The second dollar (ZWN) was replaced on 1 August 2008 by the third dollar (ZWR
ISO 4217
ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...
), which was then phased out by fourth dollar (ZWL) with short notice on 2 February 2009 because it rapidly lost value. The economic and trade sanctions imposed against the Zimbabwean government and the Reserve Bank have made it difficult to incorporate modern security features on most banknotes issued since September 2008.
The banknotes of the third dollar were originally scheduled to be demonetised on 30 June 2009 but the Zimbabwean dollar as a whole has been suspended since 12 April 2009, implying that banknotes of both the third and fourth dollar are not de jure
De jure
De jure is an expression that means "concerning law", as contrasted with de facto, which means "concerning fact".De jure = 'Legally', De facto = 'In fact'....
legal tender.
History
The first banknotes of ZimbabweZimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
were issued by the Reserve Bank of Zimbabwe (formerly Reserve Bank of Rhodesia
Rhodesia
Rhodesia , officially the Republic of Rhodesia from 1970, was an unrecognised state located in southern Africa that existed between 1965 and 1979 following its Unilateral Declaration of Independence from the United Kingdom on 11 November 1965...
) for the first dollar (ZWD) in 1980 to coincide with the independence of Zimbabwe. These notes replaced the circulating banknotes of the Rhodesian Dollar
Rhodesian dollar
The dollar was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents.-History:The dollar was introduced on February 17, 1970, less than a month before the declaration of a republic on March 2, 1970. It replaced the pound at a rate of 2 dollars to 1 pound...
at par. The first series of banknotes ranged from $2 to $20, and were signed by D. Crough, the last Governor of the Reserve Bank of Rhodesia. From 1994 to 1997 the Reserve Bank issued a new series of notes ranging from $2 to $100, although the $2 banknote was withdrawn and replaced by a coin in 1997. As rising inflation
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
started to affect the purchasing power
Purchasing power
Purchasing power is the number of goods/services that can be purchased with a unit of currency. For example, if you had taken one dollar to a store in the 1950s, you would have been able to buy a greater number of items than you would today, indicating that you would have had a greater purchasing...
of the Zimbabwean Dollar
Zimbabwean dollar
The Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009....
, the $500 and $1 000 banknotes were issued from 2001 to 2005 with enhanced anti-counterfeiting measures.
The RBZ also issued special traveller's cheques in 2003, with six denominations ranging from $1 000 to $100 000. These were short-lived due to unpopularity with the general public: identification was required both during issue and encashment of such cheques, which could only be used once by the bearer. As usual, banks levied a commission
Commission (remuneration)
The payment of commission as remuneration for services rendered or products sold is a common way to reward sales people. Payments often will be calculated on the basis of a percentage of the goods sold...
fee on all of the cheques.
On 15 September 2003, the RBZ and Standard Chartered issued special Bearer cheques with denominations ranging from $5 000 to $20 000. These, and subsequent issues of the first and second dollars were time limit
Time limit
A time limit or deadline is a narrow field of time, or particular point in time, by which an objective or task must be accomplished.In project management, deadlines are most often associated with milestone goals....
ed and lacked sophisticated anti-counterfeiting measures which were heavily used in many modern banknotes such as those of the Swiss Franc
Swiss franc
The franc is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. Although not formally legal tender in the German exclave Büsingen , it is in wide daily use there...
. In the first half of 2006 new denominations of $50 000 and $100 000 were issued, with the $1 million denomination being planned for September 2006; it was subsequently never issued.
The time limits were either ignored or extended by multiple decrees, meaning that all notes of these issues remained legal tender in practice until 21 August 2006.
On 1 August 2006 the banknotes of the second dollar (ZWN), with less elaborate designs, replaced those of the first dollar at the ratio of 1 000 to 1. The redenomination
Redenomination
Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented....
(codenamed Operation Sunrise) was heavily publicised under the banner Zero to Hero, but was also rapid and disorganised which resulted in many people being unable to convert their old Bearer cheques to new issues before the lapse date, The Reserve Bank Governor Dr. Gideon Gono
Gideon Gono
Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe...
said that "10 trillion (first dollars) were still out there and it had become manure".
Further denominations ranging from $5 000 to $500 million were issued in the period between August 2006 and May 2008 as cent cheques quickly became outmoded. In the second quarter of 2008, special Agro cheques (Agricultural Cheques) were issued in denominations ranging from $5 billion to $100 billion as the currency exchange rate was floated. Since the functions were similar to Bearer cheques, it was in regular use as prices continue to rise. These cheques also carried time limit
Time limit
A time limit or deadline is a narrow field of time, or particular point in time, by which an objective or task must be accomplished.In project management, deadlines are most often associated with milestone goals....
s and limited security features. In the final months of the second dollar, the $200 000 cheque was the lowest legal tender denomination by decree, despite having its expiry date extended twice. The $100 000 000 Bearer Cheque would have been the lowest legal tender
Legal tender
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....
denomination in circulation had the expiry dates of currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
cheques been enforced without extension, with the $100 billion Agro Cheque being the highest whether or not the $200 000 note was legal tender.
Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
-based security printers Giesecke & Devrient
Giesecke & Devrient
Giesecke & Devrient is a German company headquartered in Munich that provides banknote and securities printing, smart cards, and cash handling systems....
ceased providing banknote
Banknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
paper to the Reserve Bank on 1 July 2008 in response to an official request from the German government and widespread calls for sanctions
International sanctions
International sanctions are actions taken by countries against others for political reasons, either unilaterally or multilaterally.There are several types of sanctions....
; The Jura JSP software end-user licence, issued to the state-owned Fidelity Printers & Refiners was also terminated on 24 July 2008 for similar reasons although the official press statement quoted that it was de facto
De facto
De facto is a Latin expression that means "concerning fact." In law, it often means "in practice but not necessarily ordained by law" or "in practice or actuality, but not officially established." It is commonly used in contrast to de jure when referring to matters of law, governance, or...
impossible to prevent the printers from using the software.
On 1 August 2008 the banknotes of the third dollar (ZWR), which were printed for the abandoned second phase of the 2006 redenomination, replaced the cheques of the second dollar at the ratio of 10 billion (1010) to 1. The Bearer and Agro cheques of the second dollar were phased out along with the smaller denominations of the third dollar on 1 January 2009. Despite the reform the Reserve Bank issued several high-value denominations up to $100 trillion ($1014) in the period between September 2008 to January 2009, which merely kept in similar pace with the cash rate instead of the black market rates.
On 2 February 2009, banknotes of the fourth dollar (ZWL) were introduced to replace those of the third dollar at the ratio of one trillion (1012) to 1. It was originally envisaged that banknotes of the third dollar would remain legal tender until 30 June 2009 but all banknotes were withdrawn from circulation following the suspension of the Zimbabwe dollar on 12 April 2009.
Paper money of the first dollar (ZWD)
The Chiremba Balancing RocksBalancing Rocks
The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without...
near Harare
Harare
Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
is the main artwork used for obverse sides of the first two banknote designs of the first Zimbabwean dollar. Notes of these design also feature on either side major landmarks and landscapes such as the Kariba Dam
Kariba Dam
The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :...
and fauna. As hyperinflation
Hyperinflation
In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...
took hold at the end of the 20th century the quality of the notes deteriorated as printing plates from previous issues were reconstituted for printing emergency notes. Although the notes of the first design were gradually phased out from 1997, all remaining notes of the first dollar were forcibly demonetised on 22 August 2006.
Desmond Crough series
The Desmond Crough series was the first series of banknotes for Zimbabwe, which carried the signature of Dr. Desmond C. Crough, then the last governor of the Reserve Bank of RhodesiaRhodesian dollar
The dollar was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents.-History:The dollar was introduced on February 17, 1970, less than a month before the declaration of a republic on March 2, 1970. It replaced the pound at a rate of 2 dollars to 1 pound...
. They are dated 1980 but issued in 1981 (except for the $20 note, which was issued in 1982). The notes bear Salisbury as the name of its capital rather than Harare
Harare
Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
, as the name was changed on 18 April 1982. There are four denominations in this series: $2, $5, $10 and $20; its designs make extensive use of the Guilloché
Guilloché
Guilloché is a decorative engraving technique in which a very precise intricate repetitive pattern or design is mechanically engraved into an underlying material with fine detail...
technique, heavily relied upon by banknotes of many currencies during the 1980s.
The 1982-dated issues banknotes differed little from the earlier, except that it took into account of the renaming of the country's capital from Salisbury to Harare. However, there was an error with early runs of the $10 banknote (Pick
Albert Pick
Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World...
no. 3b), because it bears Salisbury as the name of the capital city instead of Harare. These type of issues are rare. Later runs of the $10 note (Pick no. 3c) corrected the error. There were no $2 banknotes dated 1982: the second run of this denomination was taken in 1983 with K. Moyana as governor of the Reserve Bank.
| Desmond Crough series (Signature: Dr. D.C. Crough, Capital: Salisbury, later Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
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| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | |Value ($) | |Description | 1a |  |
 |
2 | 69 × 134 mm | Blue | Chiremba Balancing Rocks Balancing Rocks The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without... and African buffalo African Buffalo The African buffalo, affalo, nyati, Mbogo or Cape buffalo is a large African bovine. It is not closely related to the slightly larger wild Asian water buffalo, but its ancestry remains unclear... |
Tigerfish Tigerfish Tigerfish is the common name for a variety of species from several different families of fish, usually on account of their colouration or otherwise fearsome appearance and teeth.- Alestiidae :... at centre-left and Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... to the right |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (Profile angle, short neck) |
1980 | 1981 | 1997 | |
| 2a |  |
 |
5 | 73 × 140 mm | Green | Chiremba Balancing Rocks and zebra Zebra Zebras are several species of African equids united by their distinctive black and white stripes. Their stripes come in different patterns unique to each individual. They are generally social animals that live in small harems to large herds... |
Village and two workers | ||||||||
| 2b | 1982 | 1982 | |||||||||||||
| 3a |  |
 |
10 | 77 × 146 mm | Red | Chiremba Balancing Rocks and sable antelope Sable Antelope The Sable Antelope is an antelope which inhabits wooded savannah in East Africa south of Kenya, and in Southern Africa.-Subspecies:There are four subspecies:* H. n. niger which is considered low risk conservation dependent... |
View of Harare with the Freedom Flame | 1980 | 1981 | ||||||
| 3b | As Pick no. 3a but with incorrect name of capital (Salisbury) | 1982 | 1982 | ||||||||||||
| 3c | As Pick no. 3a but with correct name of capital (Harare) | 1982 (reissue) | |||||||||||||
| 4a |  |
 |
20 | 81 x 152 mm | Navy | Chiremba Balancing Rocks and giraffe Giraffe The giraffe is an African even-toed ungulate mammal, the tallest of all extant land-living animal species, and the largest ruminant... |
Elephant at centre left and Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... on right |
1980 | 1982 | ||||||
| 4b | 1982 | ||||||||||||||
Kombo Moyana series
The Kombo Moyana series refers to a series of banknotes which carried Kombo Moyana's signature after being appointed governor of the Reserve Bank from 1983 to August 1993. The series bears the correct name of Zimbabwe's capital (Harare) and is indifferent to the last two series except for the date and signatureSignature
A signature is a handwritten depiction of someone's name, nickname, or even a simple "X" that a person writes on documents as a proof of identity and intent. The writer of a signature is a signatory. Similar to a handwritten signature, a signature work describes the work as readily identifying...
.
| Kombo Moyana series (Signature: K. Moyana, Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | |Value ($) | |Description | 1b |  |
 |
2 | 69 × 134 mm | Blue | Chiremba Balancing Rocks Balancing Rocks The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without... and African buffalo African Buffalo The African buffalo, affalo, nyati, Mbogo or Cape buffalo is a large African bovine. It is not closely related to the slightly larger wild Asian water buffalo, but its ancestry remains unclear... |
Tigerfish Tigerfish Tigerfish is the common name for a variety of species from several different families of fish, usually on account of their colouration or otherwise fearsome appearance and teeth.- Alestiidae :... at centre-left and Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... to the right |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (Profile angle, short neck) |
1983 | 1983 | 1997 | |
| 2c |  |
 |
5 | 73 × 140 mm | Green | Chiremba Balancing Rocks and zebra Zebra Zebras are several species of African equids united by their distinctive black and white stripes. Their stripes come in different patterns unique to each individual. They are generally social animals that live in small harems to large herds... |
Village and two workers | ||||||||
| 3d |  |
 |
10 | 77 × 146 mm | Red | Chiremba Balancing Rocks and sable antelope Sable Antelope The Sable Antelope is an antelope which inhabits wooded savannah in East Africa south of Kenya, and in Southern Africa.-Subspecies:There are four subspecies:* H. n. niger which is considered low risk conservation dependent... |
View of Harare with the Freedom Flame | ||||||||
| 4c |  |
 |
20 | 81 × 152 mm | Navy | Chiremba Balancing Rocks and giraffe Giraffe The giraffe is an African even-toed ungulate mammal, the tallest of all extant land-living animal species, and the largest ruminant... |
Elephant at centre left and Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... on right |
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Leonard Tsumba series
In August 1993, Leonard L. Tsumba replaced K. Moyana as governor of the Reserve Bank. The banknotes which carried his signatureSignature
A signature is a handwritten depiction of someone's name, nickname, or even a simple "X" that a person writes on documents as a proof of identity and intent. The writer of a signature is a signatory. Similar to a handwritten signature, a signature work describes the work as readily identifying...
are referred to as the Leonard Tsumba series.
The first banknotes to be issued with his signature was the two last runs of the original designs, dated 1994. The first run, which consisted of denominations
Denomination (currency)
Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. See also Redenomination.-Subunit and super unit:...
from $2 to $20, had the original watermark
Watermark
A watermark is a recognizable image or pattern in paper that appears as various shades of lightness/darkness when viewed by transmitted light , caused by thickness or density variations in the paper...
of the Zimbabwe Bird (profile angle, short neck), whilst the second run consisted only of the $2 and $5 denominations, bearing the watermark of the bird with a longer neck and at ¾ profile angle.
In 1994 the general design of the banknotes was reviewed to keep up with advancing technologies against counterfeit
Counterfeit
To counterfeit means to illegally imitate something. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product...
ing, which resulted in the release of two new denominations ($50 and $100) between 1994 and 1995, also to counter the effects of consumer price inflation
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
, which peaked at 41.6% in 1992. Although the Chiremba Balancing Rocks
Balancing Rocks
The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without...
were retained, other features including latent imaging in which the letters RBZ can be seen when the banknote is tilted horizontally at the eye level and identification marks for the visually impaired were added to the design, and the neck of the Zimbabwe Bird watermark was longer. The $5, $10 and $20 banknotes were also revised with the new designs in 1997, whilst the $2 banknote was and replaced by a coin in the same year with the $5 denomination undergoing the same process in August 2001.
The $500 denomination was first issued with red as the main colour in 2001. The 2003-dated versions were brown. It was followed by the $1 000 denomination on 2 October 2003, the sole difference between the two variants of the $1 000 notes (Pick
Albert Pick
Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World...
no. 12) only being the typeface of the serial number.
| Leonard Tsumba series (Signature: L.L. Tsumba, Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | |Value ($) | |Description | 1c |  |
 |
2 | 69 × 134 mm | Blue | Chiremba Balancing Rocks Balancing Rocks The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without... and African buffalo African Buffalo The African buffalo, affalo, nyati, Mbogo or Cape buffalo is a large African bovine. It is not closely related to the slightly larger wild Asian water buffalo, but its ancestry remains unclear... |
Tigerfish Tigerfish Tigerfish is the common name for a variety of species from several different families of fish, usually on account of their colouration or otherwise fearsome appearance and teeth.- Alestiidae :... at centre-left and Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... to the right |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (Profile angle, short neck) |
1994 | 1997 | |
| 1d | Zimbabwe Bird (¾ profile, medium neck) | |||||||||||||
| 2d |  |
 |
5 | 73 × 140 mm | Green | Chiremba Balancing Rocks and zebra Zebra Zebras are several species of African equids united by their distinctive black and white stripes. Their stripes come in different patterns unique to each individual. They are generally social animals that live in small harems to large herds... |
Village and two workers | Zimbabwe Bird (Profile angle, short neck) | ||||||
| 2e | Zimbabwe Bird (¾ profile, medium neck) | |||||||||||||
| 3e |  |
 |
10 | 77 × 146 mm | Red | Chiremba Balancing Rocks and sable antelope Sable Antelope The Sable Antelope is an antelope which inhabits wooded savannah in East Africa south of Kenya, and in Southern Africa.-Subspecies:There are four subspecies:* H. n. niger which is considered low risk conservation dependent... |
View of Harare with the Freedom Flame | Zimbabwe Bird (Profile angle, short neck) | ||||||
| 4d |  |
 |
20 | 81 × 152 mm | Navy | Chiremba Balancing Rocks and giraffe Giraffe The giraffe is an African even-toed ungulate mammal, the tallest of all extant land-living animal species, and the largest ruminant... |
Elephant at centre left and Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... on right |
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| 5a |  |
 |
5 | 68 × 139 mm | Pink | Chiremba Balancing Rocks and denomination. | Terraced hills in lithography Lithography Lithography is a method for printing using a stone or a metal plate with a completely smooth surface... . |
Zimbabwe Bird, ¾ profile angle, long neck. | 1997 | 2001 | ||||
| 5b |  |
Terraced hills in intaglio Intaglio (printmaking) Intaglio is a family of printmaking techniques in which the image is incised into a surface, known as the matrix or plate, and the incised line or area holds the ink. Normally, copper or zinc plates are used as a surface, and the incisions are created by etching, engraving, drypoint, aquatint or... . |
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| 6 |  |
 |
10 | 70 × 142 mm | Teal | The Tjolotjo Cliffs | 21 August 2006 | |||||||
| 7 |  |
 |
20 | 71 × 145 mm | Navy | Victoria Falls | ||||||||
| 8 |  |
 |
50 | 75 × 148 mm | Olive | Great Zimbabwe Great Zimbabwe Great Zimbabwe is a ruined city that was once the capital of the Kingdom of Zimbabwe, which existed from 1100 to 1450 C.E. during the country’s Late Iron Age. The monument, which first began to be constructed in the 11th century and which continued to be built until the 14th century, spanned an... ruins and Zimbabwe Bird in red |
March 1994 | |||||||
| 9 |  |
 |
100 | 76 × 151 mm | Violet | Kariba Dam | January 1995 | |||||||
| 10 |  |
 |
500 | 78 × 154 mm | Red | Hwange Power Station | Zimbabwe Bird (¾ profile angle, long neck) and number 500. | 2001 | ||||||
| 11a |  |
 |
Brown | 2003 | ||||||||||
| 12a |  |
 |
1 000 | Indigo | Elephants | Zimbabwe Bird (¾ profile angle, long neck) and number 1000. | ||||||||
| 12b | ||||||||||||||
Gideon Gono series
The Gideon Gono series of 2004 carried the signature of the incumbent Reserve Bank governor, Dr. Gideon GonoGideon Gono
Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe...
and consisted of only one denomination of the first dollar ($500). This was the last series of regular banknotes of the first dollar, as hyperinflation
Hyperinflation
In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...
forced all regular banknotes series out of use, although remaining legal tender theoretically until 21 August 2006.
| 2004 banknote series (Signature: Dr. G. Gono Gideon Gono Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe... , Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | |Value ($) | |Description | 11b |  |
 |
$500 | 78 × 154 mm | Brown | Chiremba Balancing Rocks Balancing Rocks The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without... |
Hwange Power Station | Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (¾ profile angle, long neck) and number 500. |
2004 | 21 August 2006 | |
Standard Chartered series
The Standard Chartered series was a series of emergency bearer cheques issued by the Standard Chartered BankStandard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
(hence the title on the top of these cheques) and the Cargill Cotton Group
Cargill
Cargill, Incorporated is a privately held, multinational corporation based in Minnetonka, Minnesota. Founded in 1865, it is now the largest privately held corporation in the United States in terms of revenue. If it were a public company, it would rank, as of 2011, number 13 on the Fortune 500,...
. They were authorised by the Reserve Bank as legitimate issues and were valid for six months from the date of issue, the first currency notes of the Zimbabwean dollar to have a time limit. They carry the signature of the company's finance director Priscilla Mutenbwa and operations director Stephen Newton-Howes.
| Standard Chartered series (Signatures: P.P. Mutenbwa and S.J. Newton-Howes, 85 Robert Mugabe Road Branch in Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
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|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | Value | Dimensions | | Main Colour | Description | Date of | ||||||
| Obverse | Reverse | Watermark | issue | withdrawal | |||||||
| 13a | 5 000 | (Unknown) | Green | Coloured background | (none) | Cotton plant | 1 June 2003 | 31 December 2003 | |||
| 13b | Blue | 1 September 2003 | 31 March 2004 | ||||||||
| 14a | 10 000 | 1 May 2003 | 30 November 2003 | ||||||||
| 14b | 1 September 2003 | 31 March 2004 | |||||||||
| 24 | Cargill Group Cargill Cargill, Incorporated is a privately held, multinational corporation based in Minnetonka, Minnesota. Founded in 1865, it is now the largest privately held corporation in the United States in terms of revenue. If it were a public company, it would rank, as of 2011, number 13 on the Fortune 500,... logo in background |
1 April 2004 | 31 October 2004 | ||||||||
| 25 | 20 000 | Green | |||||||||
| 26 | 50 000 | Orange | |||||||||
| 27 | 100 000 | Red | |||||||||
2003 bearer cheque series
The 2003 bearer cheque series was a series of emergency currency notes of the first dollar which were in circulation between 15 September 2003 and the withdrawal of the first dollar on 21 August 2006. The $5 000, $10 000 and $20 000 denominations were issued from 15 September 2003, whilst the $50 000 and $100 000 denominations, depicting Victoria FallsVictoria Falls
The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:...
on reverse, were introduced on 1 October 2005. Following the redenomination
Redenomination
Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented....
of August 2006, bearer cheques that were originally scheduled to expire on 31 December 2006 were demonetised early.
Bearer cheques dated 15 September 2003 bear the signature of the acting governor Charles Chikaura. The remainder of the series bear the signature of Dr. Gideon Gono
Gideon Gono
Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe...
, who was appointed governor in November 2003.
| 2003 bearer cheque series (Signature: Charles Chikaura as Acting Governor, Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
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|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | Image | Value ($) | Dimensions | | Main Colour | Description | Date of | |||||
| Obverse | Reverse | Obverse | Reverse | Watermark | issue | withdrawal | |||||
| 21a |  |
 |
5 000 | (Unknown) | Blue | Reserve Bank emblem, Guilloché Guilloché Guilloché is a decorative engraving technique in which a very precise intricate repetitive pattern or design is mechanically engraved into an underlying material with fine detail... border and olive background from Pick No. 8 |
Guilloché border and background from Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. 8 |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (long neck, ¾ profile) |
15 September 2003 | 31 January 2004 | |
| 21b | 30 June 2004 | ||||||||||
| 21c | 1 December 2003 | 31 December 2004 | |||||||||
| 21d | 31 December 2005 | ||||||||||
| 22a |  |
 |
10 000 | Red | 15 September 2003 | 31 January 2004 | |||||
| 22b | 30 June 2004 | ||||||||||
| 22c | 1 December 2003 | 31 December 2004 | |||||||||
| 22d | 31 December 2005 | ||||||||||
| 23a |  |
 |
20 000 | Brown | 15 September 2003 | 31 January 2004 | |||||
| 23b | 30 June 2004 | ||||||||||
| 23c | 1 December 2003 | 31 December 2004 | |||||||||
| 23d | 31 December 2005 | ||||||||||
| 2003 bearer cheque series (Signature: Dr. Gideon Gono Gideon Gono Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe... , Capital: Harare) |
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|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | Image | Value ($) | Dimensions | | Main Colour | Description | Date of | |||||
| Obverse | Reverse | Obverse | Reverse | Watermark | issue | withdrawal | |||||
| 28 |  |
 |
50 000 | 74 × 148 mm | Violet | Reserve Bank emblem, Guilloché Guilloché Guilloché is a decorative engraving technique in which a very precise intricate repetitive pattern or design is mechanically engraved into an underlying material with fine detail... border and flame |
Guilloché border and Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (¾ profile) and "RBZ" |
1 October 2005 | 21 August 2006 (originally 31 December 2006) |
|
| 29 | 1 February 2006 | ||||||||||
| 30 | |||||||||||
| 31 |  |
 |
100 000 | Green | 1 October 2005 | ||||||
| 32 | 1 June 2006 | ||||||||||
Paper money of the second dollar (ZWN)
The Zimbabwean dollarZimbabwean dollar
The Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009....
was first redenominated
Redenomination
Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented....
on 1 August 2006 under a currency reform campaign codenamed Operation Sunrise and involving the motto
Motto
A motto is a phrase meant to formally summarize the general motivation or intention of a social group or organization. A motto may be in any language, but Latin is the most used. The local language is usual in the mottoes of governments...
Zero to Hero. New-style bearer cheques of the second dollar (ISO 4217
ISO 4217
ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...
:ZWN) was introduced and replaced those of the first dollar (ZWD) at the ratio of 1 000 to 1.
The change over process was given at short notice and was also rapid because all issues prior to the August 2006 series were to be demonetised and rendered worthless on 21 August 2006. Poor communications meant that many civilians of Zimbabwe were unable to convert old bearer cheques to new ones before the deadline.
2006, 2007 and 2008 Bearer cheque series
The 2006 bearer cheque series was put into circulation on 1 August 2006 and initially consisted of 14 denominations, ranging from 1¢ to $100 000. The cheques were signed by Dr. Gideon GonoGideon Gono
Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe...
and were set to expire on 31 July 2007, except for the $100 and $500 cheques, which were initially due to expire on 31 December 2007, but later extended to 31 July 2008. The $5 denomination was also issued, despite not being widely publicised in the changeover campaign.
Two variations that were issued for the $10 000 and $100 000 denominations are recognised in the Standard Catalog of World Paper Money
Standard Catalog of World Paper Money
The Standard Catalog of World Paper Money is a well-known catalogue of banknotes that is published by Krause Publications in three volumes. These catalogues are commonly known in the numismatic trade as the Pick catalogues, as the numbering system was originally compiled by Albert Pick...
: the difference between them was the use of digit grouping. Cheques with the denomination expressed as '10000' or '100000' bear serial numbers with the (scarce) prefix AA, while notes with prefixes AB onwards is expressed as '10 000' or '100 000'.
| 2006 bearer cheque series (Signature: Dr. G. Gono Gideon Gono Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe... , Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
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|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | Image | Value | Dimensions | | Main Colour | Description | Date of | |||||
| Obverse | Reverse | Obverse | Reverse | Watermark | issue | withdrawal | |||||
| 33 |  |
 |
1¢ | 78 × 154 mm | Red | Reserve Bank emblem and value | Value within ring | Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (long neck, ¾ profile) and "500" |
1 August 2006 | 31 July 2007 | |
| 34 |  |
 |
5¢ | Green | |||||||
| 35 |  |
 |
10¢ | Brown | |||||||
| 36 |  |
 |
50¢ | Grey | |||||||
| 37 |  |
 |
$1 | 74 × 148 mm | Blue | Farm workers in a village | Zimbabwe Bird (long neck, ¾ profile) and "RBZ" | ||||
| 38 |  |
 |
$5 | Green (brown background) | View of Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... with the Freedom Flame |
||||||
| 39 |  |
 |
$10 | Red | Farm workers in a village | ||||||
| 40 |  |
 |
$20 | Orange | Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... |
||||||
| 41 |  |
 |
$50 | Violet | |||||||
| 42 |  |
 |
$100 | Green | Mountain formation | 31 July 2008 (originally 31 December 2007) |
|||||
| 43 |  |
 |
$500 | Olive | Tigerfish Tigerfish Tigerfish is the common name for a variety of species from several different families of fish, usually on account of their colouration or otherwise fearsome appearance and teeth.- Alestiidae :... and Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... |
||||||
| 44 |  |
 |
$1 000 | Brown | Mountain formation | 31 July 2007 | |||||
| 46a |  |
 |
$10 000 | Violet | Reserve Bank emblem and value without digit separation | Great Zimbabwe ruins Great Zimbabwe Great Zimbabwe is a ruined city that was once the capital of the Kingdom of Zimbabwe, which existed from 1100 to 1450 C.E. during the country’s Late Iron Age. The monument, which first began to be constructed in the 11th century and which continued to be built until the 14th century, spanned an... and value expressed as obverse |
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| 46b |  |
 |
Reserve Bank emblem and value with digit separation | ||||||||
| 48a |  |
 |
$100 000 | Teal | Reserve Bank emblem and value without digit separation | ||||||
| 48b |  |
 |
Reserve Bank emblem and value with digit separation | ||||||||
The 2007 bearer cheque series was first issued on 2 March 2007 with the introduction of $5 000 and $50 000 cheques to act as intermediary denominations between the $1 000, $10 000 and $100 000 cheques respectively. As inflation intensified, the $200 000 bearer cheque was also introduced on 1 August 2007, followed by the joint introduction of the $250 000, $500 000, and $750 000 denominations on 20 December 2007. The $200 000 bearer cheque had its date of lapse extended twice up to 31 December 2008.
The $50 000 denomination was the first denomination to use the Optically Variable Ink
Optically Variable Ink
Optically variable ink is an anti-counterfeiting measure used on many major modern banknotes.The ink displays two distinct colors depending on the angle the bill is viewed at. The United States fifty-dollar bill, for example, uses color shifting ink for the numeral 50 so that it displays copper at...
technique, on the value positioned at the top right of the obverse. The $750 000 denomination of the December 2007 series was the only note out of all cheques of the second dollar to bear a holographic strip, as the cheque was printed on paper that was prepared for the 1 000 ZWD notes (Pick
Albert Pick
Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World...
No. 12).
| 2007 bearer cheque series (Signature: Dr. G. Gono Gideon Gono Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe... , Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | Image | Value ($) | Dimensions | | Main Colour | Description | Date of | |||||
| Obverse | Reverse | Obverse | Reverse | Watermark | issue | withdrawal | |||||
| 45 |  |
 |
5 000 | 74 × 148 mm | Blue | Reserve Bank emblem and value | Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (long neck, ¾ profile) and "RBZ" |
1 March 2007 | 31 July 2008 (originally 31 July 2007) |
|
| 47 |  |
 |
50 000 | Red | Reserve Bank emblem and value in OVI Optically Variable Ink Optically variable ink is an anti-counterfeiting measure used on many major modern banknotes.The ink displays two distinct colors depending on the angle the bill is viewed at. The United States fifty-dollar bill, for example, uses color shifting ink for the numeral 50 so that it displays copper at... ink |
Elephant Elephant Elephants are large land mammals in two extant genera of the family Elephantidae: Elephas and Loxodonta, with the third genus Mammuthus extinct... with Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... |
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| 49 |  |
 |
200 000 | Pink | Reserve Bank emblem and value | Hwange Power Station | 1 August 2007 | 31 December 2008 (originally 30 June 2008) |
|||
| 50 |  |
 |
250 000 | Olive | Great Zimbabwe Great Zimbabwe Great Zimbabwe is a ruined city that was once the capital of the Kingdom of Zimbabwe, which existed from 1100 to 1450 C.E. during the country’s Late Iron Age. The monument, which first began to be constructed in the 11th century and which continued to be built until the 14th century, spanned an... ruins |
20 December 2007 | 30 June 2008 | ||||
| 51 |  |
 |
500 000 | Green | Elephants | ||||||
| 52 |  |
 |
750 000 | 78 × 154 mm | Indigo | Reserve Bank emblem, value and hologram | Elephant with Victoria Falls | Zimbabwe Bird (long neck, ¾ profile) and "1000" | 31 December 2007 | ||
The circulation of the 2008 bearer cheque series commenced on 18 January 2008 with three denominations
Denomination (currency)
Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. See also Redenomination.-Subunit and super unit:...
ranging from $1 million to $10 million, and concluded with the issue of the $500 million bearer cheque on 15 May 2008. Three denominations of the 2008 series remained legal tender
Legal tender
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....
at the ratio of 1010 to 1 until being demonetised on 31 December 2008.
There are two variants of the $10 million denomination, the primary difference being the typeface
Typeface
In typography, a typeface is the artistic representation or interpretation of characters; it is the way the type looks. Each type is designed and there are thousands of different typefaces in existence, with new ones being developed constantly....
and size of the serial number. Those with slightly larger serial numbers bear the prefix DA. The $25 million banknote is larger in dimension out of the rest of the 2008 series.
| 2008 bearer cheque series (Signature: Dr. G. Gono Gideon Gono Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe... , Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
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|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | Image | Value | Dimensions | | Main Colour | Description | Date of | |||||
| Obverse | Reverse | Obverse | Reverse | Watermark | issue | withdrawal | |||||
| 53 |  |
 |
1 000 000 | 74 × 148 mm | Brown | Reserve Bank emblem and value | Farm workers in a village | Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (¾ profile) and "RBZ" |
18 January 2008 | 30 June 2008 | |
| 54 |  |
 |
5 000 000 | Blue | Mountain formation | ||||||
| 55a/55b |  |
 |
10 000 000 | Red | Tigerfish Tigerfish Tigerfish is the common name for a variety of species from several different families of fish, usually on account of their colouration or otherwise fearsome appearance and teeth.- Alestiidae :... with the Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... |
||||||
| 56 |  |
 |
25 000 000 | 78 × 154 mm | Teal | View of Harare with the Freedom Flame | Zimbabwe Bird (¾ profile) and "500" | 4 April 2008 | |||
| 57 |  |
 |
50 000 000 | 74 × 148 mm | Violet | Elephants | Zimbabwe Bird (¾ profile) and "RBZ" | ||||
| 58 |  |
 |
100 000 000 | Green | Farm workers in a village | 6 May 2008 | 31 December 2008 | ||||
| 59 |  |
 |
250 000 000 | Blue | Elephant with Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... |
||||||
| 60 |  |
 |
500 000 000 | Red | Tigerfish with the Kariba Dam | 15 May 2008 | |||||
Agro cheque series
The Reserve Bank issued Special Agro (Agricultural) cheques from 15 May to 31 July 2008. Although of a different design and with the intention for use only by farmerFarmer
A farmer is a person engaged in agriculture, who raises living organisms for food or raw materials, generally including livestock husbandry and growing crops, such as produce and grain...
s, it had found its way into regular use because of the parallel functions with bearer Cheques and the exponential rise of food prices. Following the 2008 currency reform, Agro and bearer cheques were phased out on 1 January 2009.
The four denominations in this series are not the same by dimensions as the $25 billion note used different paper from the 500 ZWD banknote of 2001. The $100 billion ($1011) Agro Cheque was the largest of the second dollar, sharing the record for the most number of zeroes depicted on a banknote with the Yugoslav
Yugoslavia
Yugoslavia refers to three political entities that existed successively on the western part of the Balkans during most of the 20th century....
500 billion ($5×1011) dinar note of 1993, up until January 2009.
| Special Agro (Agricultural) cheques, 2008 (Signature: Dr. G. Gono Gideon Gono Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe... , Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | Image | Value | Dimensions | | Main Colour | Description | Date of | |||||
| Obverse | Reverse | Obverse | Reverse | Watermark | issue | withdrawal | |||||
| 61 |  |
 |
5 000 000 000 (5×109) |
74 × 148 mm | Violet | Reserve Bank emblem, value Denomination (currency) Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. See also Redenomination.-Subunit and super unit:... (in billions) and motif of giraffe Giraffe The giraffe is an African even-toed ungulate mammal, the tallest of all extant land-living animal species, and the largest ruminant... |
Silo Silo A silo is a structure for storing bulk materials.Silo may also refer to:* Silo , a 3D modeling software* Silo , a defunct chain of retail electronics stores* SILO , used in Linux... towers and giraffe Giraffe The giraffe is an African even-toed ungulate mammal, the tallest of all extant land-living animal species, and the largest ruminant... motif (mirrored) |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... (¾ profile) and "RBZ" |
15 May 2008 | 31 December 2008 | |
| 62 |  |
 |
25 000 000 000 (2.5×1010) |
78 × 154 mm | Green | Zimbabwe Bird (¾ profile) and "500" | |||||
| 63 |  |
 |
50 000 000 000 (5×1010) |
74 × 148 mm | Brown | Zimbabwe Bird (¾ profile) and "RBZ" | |||||
| 64 |  |
 |
100 000 000 000 (1011) |
Blue | 1 July 2008 | ||||||
Paper money of the third dollar (ZWR)
The 2007 banknote series was prepared by the Reserve Bank in October 2006 for the abandoned second phase of Operation Sunrise. The Chiremba Balancing RocksBalancing Rocks
The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without...
was to be reinstated as the main feature on the obverse whilst use of the Zimbabwe Bird
Zimbabwe Bird
The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins...
watermark continued. There were additional security features as opposed to previous issues, which included security thread
Security thread
A security thread is a security feature of many bank notes to protect against counterfeiting, consisting of a thin ribbon that is threaded through the note's paper....
s, see-through register marks and recognition marks for the partially sighted. Holographic security threads and Optically Variable Ink
Optically Variable Ink
Optically variable ink is an anti-counterfeiting measure used on many major modern banknotes.The ink displays two distinct colors depending on the angle the bill is viewed at. The United States fifty-dollar bill, for example, uses color shifting ink for the numeral 50 so that it displays copper at...
were used on the $100, $500 and $1 000 notes. When the redenomination of 1 August 2008 occurred these notes were put into circulation as banknotes of the third dollar between 1 August 2008 to 31 December 2008.
The 2008 banknote series circulated from 29 September 2008 to 12 April 2009. The series demonstrated the intensity of hyperinflation
Hyperinflation
In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...
during the period as the highest denomination increased from $1 000 to $100 trillion ($1014) by January 2009, the latter being the largest denomination issued by the Reserve Bank. The first issues of the series were the $10 000 and $20 000 denominations. These were followed by the following denominations:
- $50 000 (13 October 2008)
- $100 000, $500 000 and $1 million (3 November 2008)
- $10 million, $50 million and $100 million (4 December 2008)
- $200 million and $500 million (12 December 2008)
- $1 billion, $5 billion and $10 billion notes (19 December 2008)
- $20 billion and $50 billion notes (12 January 2009)
- $10 trillion, $20 trillion, $50 trillion and $100 trillion (16 January 2009)
The large number of denominations issued in late-2008 as well as the suspension of paper supply by Giesecke & Devrient
Giesecke & Devrient
Giesecke & Devrient is a German company headquartered in Munich that provides banknote and securities printing, smart cards, and cash handling systems....
affected the Reserve Bank's ability to maintain the quality of the banknotes. Consequently most design features were copied from the 2007 banknote series and lack many modern security features that were being relied upon by banknotes of major currencies such as those of the Canadian Dollar
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
. The notes denominated from $20 000 to $500 000 and then from $10 million onwards used non-watermarked paper, whilst the $500 million notes were printed on pure cotton. A silhouette of the Zimbabwe Bird in Optically Variable Ink
Optically Variable Ink
Optically variable ink is an anti-counterfeiting measure used on many major modern banknotes.The ink displays two distinct colors depending on the angle the bill is viewed at. The United States fifty-dollar bill, for example, uses color shifting ink for the numeral 50 so that it displays copper at...
was used in such notes to compensate for this but the iridescent strip was dropped for higher denominations. The $10 000 and $1 000 000 notes were printed on paper intended for the $1 000 notes (Pick no. 72), thereby carrying the embedded holographic thread and watermark
Watermark
A watermark is a recognizable image or pattern in paper that appears as various shades of lightness/darkness when viewed by transmitted light , caused by thickness or density variations in the paper...
. Two types of paper were used on $20 000, $50 000 and $500 000 banknotes.
| 2007 banknote series (Signature: Dr. G. Gono Gideon Gono Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe... , Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | |Description | Chiremba Balancing Rocks Balancing Rocks The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without... | Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... and African buffalo African Buffalo The African buffalo, affalo, nyati, Mbogo or Cape buffalo is a large African bovine. It is not closely related to the slightly larger wild Asian water buffalo, but its ancestry remains unclear... |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... and denomination |
October 2006 | 1 August 2008 | 31 December 2008 | |||||
| 66 |  |
 |
5 | 68 × 140 mm | Brown | Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... and elephant |
||||||
| 67 |  |
 |
10 | 70 × 142 mm | Green | Farm tractor and silo towers | ||||||
| 68 |  |
 |
20 | 72 × 146 mm | Red | Grain belt and miner | ||||||
| 69 |  |
 |
100 | 73 × 149 mm | Blue | Great Zimbabwe ruins Great Zimbabwe Great Zimbabwe is a ruined city that was once the capital of the Kingdom of Zimbabwe, which existed from 1100 to 1450 C.E. during the country’s Late Iron Age. The monument, which first began to be constructed in the 11th century and which continued to be built until the 14th century, spanned an... and trees of Aloe excelsa |
||||||
| 70 |  |
 |
500 | 75 × 150 mm | Violet | Milking farm and bull | ||||||
| 71 |  |
 |
1 000 | 76 × 153 mm | Orange | Parliament, Anglican St. Mary's Cathedral and Reserve Bank buildings | 17 September 2008 | |||||
| 2008 banknote series (Signature: Dr. G. Gono, Capital: Harare) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | |Description | 72 |  |
 |
10 000 | 76 × 153 mm | Brown | Chiremba Balancing Rocks Balancing Rocks The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without... |
Combine harvester Combine harvester The combine harvester, or simply combine, is a machine that harvests grain crops. The name derives from the fact that it combines three separate operations, reaping, threshing, and winnowing, into a single process. Among the crops harvested with a combine are wheat, oats, rye, barley, corn ,... and tractor |
Zimbabwe Bird Zimbabwe Bird The stone-carved Zimbabwe Bird is a national emblem of Zimbabwe, appearing on the national flags and coats of arms of both Zimbabwe and Rhodesia, as well as on banknotes and coins... and "1000" |
29 September 2008 | 12 April 2009 | |
| 73a |  |
 |
20 000 | 74 × 148 mm | Olive | Victoria Falls Victoria Falls The Victoria Falls or Mosi-oa-Tunya is a waterfall located in southern Africa on the Zambezi River between the countries of Zambia and Zimbabwe.-Introduction:... and Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... |
None | ||||||
| 73b | Horizontal lines | ||||||||||||
| 74a |  |
 |
50 000 | Green | Farm tractor and miner | None | 13 October 2008 | ||||||
| 74b | Horizontal lines | ||||||||||||
| 75 |  |
 |
100 000 | Indigo | African buffalo African Buffalo The African buffalo, affalo, nyati, Mbogo or Cape buffalo is a large African bovine. It is not closely related to the slightly larger wild Asian water buffalo, but its ancestry remains unclear... and elephant Elephant Elephants are large land mammals in two extant genera of the family Elephantidae: Elephas and Loxodonta, with the third genus Mammuthus extinct... |
None | 5 November 2008 | ||||||
| 76a |  |
 |
500 000 | Olive | Trees of Aloe excelsa and milking farm | ||||||||
| 76b | Horizontal lines | ||||||||||||
| 77 |  |
 |
1 000 000 | 76 × 153 mm | Blue | Great Zimbabwe Great Zimbabwe Great Zimbabwe is a ruined city that was once the capital of the Kingdom of Zimbabwe, which existed from 1100 to 1450 C.E. during the country’s Late Iron Age. The monument, which first began to be constructed in the 11th century and which continued to be built until the 14th century, spanned an... ruins and bull |
Zimbabwe Bird and "1000" | ||||||
| 78 |  |
 |
10 000 000 | 74 × 148 mm | Indigo | Parliament building, Anglican St. Mary's Cathedral and Great Zimbabwe ruins | None | 4 December 2008 | |||||
| 79 |  |
 |
50 000 000 | Teal | African buffalo and Great Zimbabwe ruins | ||||||||
| 80 |  |
 |
100 000 000 | Red | Grain belt and silo towers | ||||||||
| 81 |  |
 |
200 000 000 | Brown | Parliament buildings, Anglican St. Mary's Cathedral and Heroes’ Acre National Heroes Acre (Zimbabwe) National Heroes Acre or simply Heroes Acre is a burial ground and national monument in Harare, Zimbabwe. The site is situated on a ridge seven kilometres from Harare along the main Harare-Bulawayo Road. The shrine is a national monument of Zimbabwe... |
12 December 2008 | |||||||
| 82 |  |
 |
500 000 000 | Violet | Milking farm and miner | ||||||||
| 83 |  |
 |
1 000 000 000 ($109) |
Green | Trees of Aloe excelsa and elephant | 19 December 2008 | |||||||
| 84a |  |
 |
5 000 000 000 ($5×109) |
Pink | Farm tractor and milking farm | ||||||||
| 84b | Pink (lighter shades) |
|||||||||||||
| 85 |  |
 |
10 000 000 000 (1010) |
Indigo | Kariba Dam and miner | ||||||||
| 86 |  |
 |
20 000 000 000 (2×1010) |
Olive-orange | Great Zimbabwe ruins and trees of Aloe excelsa | 12 January 2009 | |||||||
| 87 |  |
 |
50 000 000 000 (5×1010) |
Orange | Great Zimbabwe ruins and Reserve Bank building | ||||||||
| 88 |  |
 |
10 000 000 000 000 (1013) |
Green | 16 January 2009 | ||||||||
| 89 |  |
 |
20 000 000 000 000 (2×1013) |
Red | Miner and grain silo | ||||||||
| 90 |  |
 |
50 000 000 000 000 (5×1013) |
Teal | Kariba Dam and elephant | ||||||||
| 91 |  |
 |
100 000 000 000 000 (1014) |
Blue | Victoria Falls and Buffalo | ||||||||
Paper money of the fourth dollar (ZWL)
The Zimbabwe dollar was again reformed on 2 February 2009 when the fourth dollar replaced the third dollar at the ratio of 1 000 000 000 000 (1012) to 1 with the original intention of phasing out the latter by 1 July 2009. The 2009 banknote series was issued for the fourth dollar which circulated from 2 February 2009 until the suspension of the dollar on 12 April 2009. The series consisted of denominations ranging from $1 to $500. The notes had a revised design with chevrons as registration devices, the Zimbabwe Bird in optically variable inkOptically Variable Ink
Optically variable ink is an anti-counterfeiting measure used on many major modern banknotes.The ink displays two distinct colors depending on the angle the bill is viewed at. The United States fifty-dollar bill, for example, uses color shifting ink for the numeral 50 so that it displays copper at...
and an iridescent strip. Most parts of the design were recycled from designs of past issues and do not have a watermark
Watermark
A watermark is a recognizable image or pattern in paper that appears as various shades of lightness/darkness when viewed by transmitted light , caused by thickness or density variations in the paper...
although a plain space existed in the areas where it would normally be positioned.
| 2009 banknote series (Signature: Dr. G. Gono Gideon Gono Gideon Gono is the current Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe... , Capital: Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... ) |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No. | Image | | Value ($) | | Dimensions | | Main Colour | Description | Date of | |||||
| Obverse | 92 |  |
.jpg) |
1 | 74 × 148 mm | Blue | Chiremba Balancing Rocks Balancing Rocks The Balancing Rocks are geomorphological features of igneous rocks found in many parts of Zimbabwe, and are particularly noteworthy in Matopos National Park and near the township of Epworth to the southeast of Harare. The formations are of natural occurrence in a perfectly balanced state without... and denomination |
Farm workers in a village | 2 February 2009 | 12 April 2009 | |
| 93 | .jpg) |
.jpg) |
5 | Green | Tigerfish Tigerfish Tigerfish is the common name for a variety of species from several different families of fish, usually on account of their colouration or otherwise fearsome appearance and teeth.- Alestiidae :... and Kariba Dam Kariba Dam The Kariba Dam is a hydroelectric dam in the Kariba Gorge of the Zambezi river basin between Zambia and Zimbabwe. It is one of the largest dams in the world, standing tall and long.- Construction :... |
||||||
| 94 | .jpg) |
.jpg) |
10 | Pink | Great Zimbabwe Great Zimbabwe Great Zimbabwe is a ruined city that was once the capital of the Kingdom of Zimbabwe, which existed from 1100 to 1450 C.E. during the country’s Late Iron Age. The monument, which first began to be constructed in the 11th century and which continued to be built until the 14th century, spanned an... ruins |
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| 95 | .jpg) |
.jpg) |
20 | Indigo | Hwange Power Station | ||||||
| 96 | .jpg) |
.jpg) |
50 | Violet | |||||||
| 97 | .jpg) |
.jpg) |
100 | Brown | View of Harare Harare Harare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its... with the Freedom Flame |
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Replacement banknotes
Special prefixes were allocated for Replacement banknoteReplacement banknote
A replacement banknote is a banknote that is printed to replace a faulty one and is used as a control mechanism for governments or monetary authorities to know the exact number of banknotes being printed...
s of Zimbabwe. The prefixes used were as follows:
| First dollar | Second, third and fourth dollar | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Prefix | AB | AC | AD | AE | AF | AP | AW | BW | CW | CZ | DW | TA | ZB | ZE-ZG | ZJ-ZL | ZA | ZE |
| Banknotes (Pick Albert Pick Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World... No.) |
5 | 6 | 7 | 8 | 9 | 10 | 1, 12 | 2 | 3 | 29 | 4 | 11 | 21, 28, 32 | 22 | 23 | 33-54, 55a, 56-78, 83, 84b, 87-98 | 55b |
Valuation and collecting ability
Hyperinflationary Zimbabwean banknotes (such as the $100 trillion denomination) have gained considerable interest from the Numismatic community and buyers in general for its absurdity rather than the design. Some examples of such notes may be sold further in excess of their true face value.The price and value of a Zimbabwean banknote depend on various factors: the rarity, based on factors such as the name of capital city, how long it was printed, or the type of watermark; its condition, and the national situation at time of issue, such as shortages or hyperinflation. Common designs and variants such as the $100 note of 1995 (Pick
Albert Pick
Albert Pick is a retired German numismatist. An internationally acknowledged specialist author on the subject of paper money, Pick wrote the first modern catalog of banknotes in 1974, and is widely credited with establishing the modern face of banknote collecting.His Standard Catalog of World...
no. 9) are usually valued at about $1 apiece, while rare varieties such as the $10 Salisbury error note (Pick no. 3b) and the Standard Chartered issues are valued at around $100 or more. Zimbabwean banknotes are usually sold by banknote dealers over the counter or on the internet, although the most valued types theoretically qualify for inclusion in auction.
Other circulating banknotes
As in every fiscal emergency, hard currency, particularly the United States dollarDollar
The dollar is the name of the official currency of many countries, including Australia, Belize, Canada, Ecuador, El Salvador, Hong Kong, New Zealand, Singapore, Taiwan, and the United States.-Etymology:...
, has long served as a parallel currency on the black market, and many prices in shops would be posted in US dollars, even during periods when it was illegal to possess foreign currency or to transact business in US dollars.
A unique form of circulating specie is the Petrol Coupon, which has been issued in 2005, 2006, 2007 and 2008. Known denominations include 1, 10 and 20 litres of petrol, and translate roughly into the local petrol price (about 1 UK pound sterling per litre or US$1.50 in late 2008). Businesses, including Western Union, have been reported paying employees with these coupons, and even auctions have been transacted in this currency. As with much Zimbabwe currency, printing standards are crude and counterfeiting is rampant; the RBZ has been dissuading this widespread use.
See also
- Reserve Bank of ZimbabweReserve Bank of ZimbabweThe Reserve Bank of Zimbabwe is the central bank of Zimbabwe.-History:The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board....
- Least valued currency unitLeast valued currency unitThe least valued currency unit is the currency in which a single unit buys the least number of any given other currency or the smallest amount of a given good. Most commonly, the calculation is made against a major reserve currency such as the United States dollar or the euro...
- Zimbabwean dollarZimbabwean dollarThe Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009....
- Hyperinflation in ZimbabweHyperinflation in ZimbabweHyperinflation in Zimbabwe began shortly after destruction of productive capacity in Zimbabwe's civil war and confiscation of white-owned farmland. Food output capacity fell 45%, manufacturing output 29% in 2005, 26% in 2006 and 28% in 2007, and unemployment rose to 80%...
- Economy of ZimbabweEconomy of ZimbabweThe economy of Zimbabwe has shrunk significantly after 2000, resulting in a desperate situation for the country and widespread poverty from among others 94% unemployment. The participation from 1998 to 2002 in the war in the Democratic Republic of the Congo set the stage for this deterioration by...