ZWL

ZWL is the ISO 4217 currency code for the Zimbabwean dollar, the official currency of Zimbabwe. The symbol and name refer to the national unit used for most domestic transactions. The currency was reintroduced in 2019 by the Government of Zimbabwe and the Reserve Bank of Zimbabwe (RBZ) as the country’s official tender after a period in which multiple foreign currencies circulated domestically.

Issuance and regulation

The Zimbabwean dollar is issued and regulated by the RBZ. Like most currencies, it is subdivided into 100 smaller units (cents). The RBZ is responsible for monetary policy, currency stabilization, and the distribution of banknotes and coins, as well as maintaining the payment system and financial stability within the country.

Circulation and usage

Since its reintroduction, the ZWL has circulated alongside other currencies in Zimbabwe’s economy, with cash transactions and electronic payments widely used. The currency has faced volatility and periodic liquidity challenges, reflecting broader macroeconomic conditions, monetary policy decisions, and market confidence. In practice, residents sometimes rely on a mix of Zimbabwean dollars and other currencies for pricing, savings, and transactions, while the RBZ implements measures to manage exchange rates and inflation.

Historical context

Zimbabwe’s monetary history includes periods of hyperinflation in the late 2000s, followed by a multicurrency regime. The return to the Zimbabwean dollar represented an effort to reestablish a national monetary anchor, even as foreign currencies continued to play a significant role in the economy.

See also

Zimbabwean dollar, RTGS dollar, Reserve Bank of Zimbabwe.