Title: ZWD (Zimbabwe Dollar) Definition
Headings: ZWD (Zimbabwe Dollar)
ZWD (Zimbabwe Dollar)
What Was the ZWD (Zimbabwe Dollar)?
Key Takeaways
Understanding the Zimbabwe Dollar
98%
Zimbabwe's Hyperinflation
Death of the Ailing Zimbabwe Dollar

Content: This hyperinflation remained in Zimbabwe until foreign currency use as a medium of exchange became predominant. Death of the Ailing Zimbabwe Dollar
After years of hyperinflation, the government of Zimbabwe announced the demonetization of the ZWD in 2009 which became final in 2015. Demonetization is the process of officially removing the legal status of a currency unit. Also in 2009, the government legalized the use of foreign currencies and abandoned the use of the ZWD in April. The country would gradually transition from the ZWD to the use of multiple currency systems over the next few years including the Botswana Pula (BWP), Indian rupee (INR), euro (EUR), U.S. dollar (USD), and South African Rand (ZAR). At least nine different currencies acted as legal tender in the country. In 2015, the government announced that those who had bank accounts could exchange 35 quadrillion Zimbabwe dollars for 1 USD in those accounts. Traders in Zimbabwe have their preferences as to which type of money to accept, but the U.S. dollar is the most widely accepted throughout the country. In late 2016, the government of Zimbabwe also introduced a batch of bond notes as a form of alternative currency, with a bond note having an exchange rate of 1:1 with the U.S. dollar. In June of 2019, the Reserve Bank of Zimbabwe abolished the multiple currency system and replaced it with a new Zimbabwe dollar known as the RTGS Dollar
During much of its existence, the most popular Zimbabwe dollar exchange in the international currency market was the ZWD/USD rate.