Here is the complete financial historical report of Zimbabwe, in International English, as requested:

Financial Historical Report of Zimbabwe

Basic Data

• Country ISO Code: ZW

• Official Languages: English (official), Shona, Ndebele, and others

• Current Official Currency: Zimbabwean Gold (ZiG)

• Currency ISO Code: USDZiG (structured gold-backed currency)

• Issuing Authority: Reserve Bank of Zimbabwe

• Subdivision: 1 Zimbabwean dollar = 100 cents (though usage is limited)

Currency History

1. Rhodesian Dollar (1970–1980)

• Before independence, Zimbabwe was known as Rhodesia and used the Rhodesian dollar, introduced in 1970 to replace the Rhodesian pound at par.

• The Rhodesian dollar was subdivided into 100 cents.

2. First Zimbabwean Dollar (ZWD) (1980–2009)

• After independence in 1980, Zimbabwe introduced the Zimbabwean dollar (ZWD), replacing the Rhodesian dollar at par.

• Initially stable and even valued higher than the US dollar on official markets.

• From the 1990s onwards, economic crises, chaotic land reforms, and regional conflicts led to severe currency devaluation.

• Between 2006 and 2009, Zimbabwe experienced hyperinflation, one of the worst in history, with monthly inflation rates reaching billions of percent.

• The currency underwent three redenominations:

  • 2006: Second dollar (ZWN), 1 ZWN = 1,000 ZWD

  • 2008: Third dollar (ZWR), 1 ZWR = 10^10 ZWN

  • 2009: Fourth dollar (ZWL), 1 ZWL = 10^12 ZWR

• Banknotes with denominations up to 100 trillion dollars were issued.

3. Dollarization and Multi-currency System (2009–2019)

• In April 2009, Zimbabwe abandoned its own currency due to hyperinflation.

• Adopted a multi-currency system using primarily the US dollar, South African rand, Botswana pula, British pound, and others.

• The Reserve Bank ceased issuing Zimbabwean dollars, stabilizing the economy somewhat.

4. Reintroduction of the Zimbabwean Dollar (2019–2024)

• In June 2019, Zimbabwe reintroduced the Zimbabwean dollar (ZWL) as sole legal tender, ending the multi-currency regime.

• Initially pegged to the US dollar but quickly depreciated due to low confidence and inflation.

• New banknotes and coins were issued, denominations ranging from 2 to 200 ZWL.

• In 2023, exchange rate liberalization led to sharp depreciation of the ZWL.

5. Introduction of the Gold-backed Structured Currency (2024–Present)

• In April 2024, the Reserve Bank launched the Zimbabwean Gold (ZiG), a structured currency backed by gold and other precious minerals.

• The ZiG aims to control inflation and stabilize the economy.

• It is traded on the foreign exchange market and designed to restore confidence in the local currency.

Currency Features

• The Zimbabwean dollar is subdivided into 100 cents, but coins and small denominations are rarely used due to inflation.

• Banknotes historically featured national leaders, wildlife, and cultural symbols, with recent issues incorporating advanced security features and polymer substrates.

• The ZiG is backed by tangible assets, an innovative approach for Zimbabwe.

Economic Context

• Zimbabwe suffered one of the most severe hyperinflation crises in history, leading to currency collapse.

• Dollarization brought temporary stability but created liquidity challenges and external dependence.

• Reintroduction of the local currency and the ZiG represent attempts to regain monetary sovereignty and curb inflation.

• A vibrant parallel exchange market reflects ongoing distrust in the official currency.

Current Status

• The official currency is now the Zimbabwean Gold (ZiG), launched in 2024.

• The Zimbabwean dollar (ZWL) remains in circulation but faces significant depreciation.

• The Reserve Bank continues efforts to stabilize the economy and currency.

Summary

• Zimbabwe’s monetary history is marked by hyperinflation, multiple redenominations, and currency abandonment.

• The multi-currency system stabilized the economy but sacrificed monetary sovereignty.

• The gold-backed ZiG represents a novel effort to restore confidence and economic stability.

If you wish, I can prepare translations of this report into Brazilian Portuguese or other languages.