Zimbabwean Bond Coins
| Zimbabwean Bond Coins | |
|---|---|
| ISO 4217 code | USD |
| Country |  Zimbabwe |
| Issuers | Reserve Bank of Zimbabwe (2014–present) |
| Denominations | 1, 5, 10, 25, and 50 US Cents |
The Reserve Bank of Zimbabwe began to release Zimbabwean Bond Coins on December 18, 2014. The coins are denominated at 1, 5, 10, and 25 cents and are pegged to the corresponding values in United States currency.[1] A 50 cent Bond Coin was finally released in March 2015.[2]
The coins are being issued to remedy a lack of small change resulting from the absence of a solid seigniorage contract with the USA, South Africa or any of several other countries whose currencies, including the U.S. dollar and the euro, are being used in the multi-currency regime that arose in 2009, when Zimbabwe abandoned the Zimbabwean dollar in response to several cycles of hyperinflation. The economy of Zimbabwe being too frail and small to pay the interest which would come with a seigniorage contract, the country chose instead to implement a multi-currency environment based on the US dollar. However, this arrangement has meant a shortage of small change in coins.[3][4][1][5]
Public reaction to the Bond Coins has been extremely skeptical, with widespread fear that they are the government's first step to reintroducing an unreliable Zimbabwean dollar.[4][6] John Mangudya, the Governor of the Reserve Bank of Zimbabwe, has denied that the Zimbabwean dollar is being reintroduced.[citation needed]
The Bond Coins, struck at the South African Mint in Pretoria,[citation needed] are the first Zimbabwean coins since 2003. $10 and $25 coins were struck at the Zimbabwean Mint then, but were stockpiled in the vaults of the Reserve Bank of Zimbabwe until being put into circulation in late 2008.
See also
References
<templatestyles src="Reflist/styles.css" />
Cite error: Invalid <references> tag; parameter "group" is allowed only.
<references />, or <references group="..." /><templatestyles src="Reflist/styles.css" />
Cite error: Invalid <references> tag; parameter "group" is allowed only.
<references />, or <references group="..." /> |
Wikimedia Commons has media related to Money of Zimbabwe. |
| Preceded by: Zimbabwean dollar Reason: hyperinflation Ratio: 250 ZWL = 1 USD Note: 1st dollar (ZWD): 18 April 1980 to 21 August 2006 2nd dollar (ZWN or 1 000 ZWD): 1 August 2006 to 31 December 2008 3rd dollar (ZWR or 1010 ZWN): 1 August 2008 to 12 April 2009 4th dollar (ZWL or 1012 ZWR): 2 February 2009 to 12 April 2009 |
Currency of Zimbabwe 18 December 2014 – present Note: Part of a multi-currency regime with hard currencies. |
Succeeded by: Current |
- ↑ 1.0 1.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ 4.0 4.1 Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
