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Zimbabwean Bond Notes
Zimbabwean bond notes are a form of banknote in circulation in Zimbabwe. Released by the Reserve Bank of Zimbabwe, the notes were stated to not be a currency in itself but rather legal tender near money pegged equally against the U.S. dollar. In 2014, prior to the release of bond notes, a series of bond coins entered circulation. History In November 2016, backed by a loan from the African Export-Import Bank, the Reserve Bank of Zimbabwe began issuing $2 bond notes. Two months later, worth of new five-dollar bond notes were also released. Further plans for and bond notes were ruled out by the Reserve Bank's governor John Mangudya. The notes were not generally accepted by the Zimbabwean people, so the government tried expanding the electronic money supply and issuing Treasury bills instead. The bond notes were still in circulation in 2018, although former Finance Minister Tendai Biti said that they should be demonetised, as they were being subject to arbitrage. In the ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zimbabwean 2 Dollar Bond Notes
Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and Mozambique to the east. The capital and largest city is Harare. The second largest city is Bulawayo. A country of roughly 15 million people, Zimbabwe has 16 official languages, with English, Shona language, Shona, and Northern Ndebele language, Ndebele the most common. Beginning in the 9th century, during its late Iron Age, the Bantu peoples, Bantu people (who would become the ethnic Shona people, Shona) built the city-state of Great Zimbabwe which became one of the major African trade centres by the 11th century, controlling the gold, ivory and copper trades with the Swahili coast, which were connected to Arab and Indian states. By the mid 15th century, the city-state had been abandoned. From there, the Kingdom of Zimbabwe was established, fol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tendai Biti
Tendai Laxton Biti (born 6 August 1966) is a Zimbabwean politician who served as Finance Minister of Zimbabwe from 2009 to 2013. He is the current Member of Parliament for Harare East Constituency and the second Vice President of Citizens Coalition for Change. He was the Secretary-General of the Movement for Democratic Change and the subsequent Movement for Democratic Change – Tsvangirai (MDC-T) political parties and a Member of Parliament for Harare East until he was expelled from the party and recalled from parliament in mid-2014,before winning the seat again in 2018. Early life Biti was born in Dzivarasekwa, Harare, and he is the eldest in a family of 6 children. From 1980 to 1985 he attended Goromonzi High School, where he was appointed deputy head boy in 1985. He enrolled in the University of Zimbabwe law school as a freshman in 1986. In 1988 and 1989, Biti was Secretary General of the University of Zimbabwe Student Representative Council, with Terry Mhungu as SRC Pres ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Of Africa
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance - i.e. legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term "curre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Introduced In 2016
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance - i.e. legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term "currency ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hard Currency
In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's ''hard'' status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank. Safe haven currency is defined as a currency which behaves like a hedge for a reference portfolio of risky assets conditional on movements in global risk aversion. Conversely, a weak or soft currency is one which is expected to fluctuate erratically or depreciate against other currencies. Softness is typically the result of weak legal institutions and/or political or fiscal instability. History The paper currencies of some developed countries have earned recognition as hard curr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zimbabwean Bonds
Zimbabwean Bonds are a form of legal tender near money released by the Reserve Bank of Zimbabwe which attempts to resolve Zimbabwe's lack of currency. Bonds are pegged against the U.S. dollar at a 1:1 fixed exchange rate and backed by the country's reserve. Since abandoning the Zimbabwean dollar in 2009 after it went into hyperinflation the country began using a number of foreign currencies including the U.S. dollar, South African rand, British pound and Chinese yuan The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. ... as a means of exchange. The inability to print these currencies led to a shortage of money with banks issuing limits on withdrawals. Coins On 18 December 2014 the Reserve Bank of Zimbabwe began issuing so-called 'bond coins' which were supported by a US$50 million fac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RTGS Dollar
RTGS may refer to: *Real-time gross settlement *Royal Thai General System of Transcription *RTGS Dollar RTGS may refer to: *Real-time gross settlement Real-time gross settlement (RTGS) systems are specialist funds transfer systems where the transfer of money or securities takes place from one bank to any other bank on a "real-time" and on a " gros ..., Zimbabwe's currency since 2019 {{dab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Giraffe
The giraffe is a large African hoofed mammal belonging to the genus ''Giraffa''. It is the tallest living terrestrial animal and the largest ruminant on Earth. Traditionally, giraffes were thought to be one species, ''Giraffa camelopardalis'', with nine subspecies. Most recently, researchers proposed dividing them into up to eight extant species due to new research into their mitochondrial and nuclear DNA, as well as morphological measurements. Seven other extinct species of ''Giraffa'' are known from the fossil record. The giraffe's chief distinguishing characteristics are its extremely long neck and legs, its horn-like ossicones, and its spotted coat patterns. It is classified under the family Giraffidae, along with its closest extant relative, the okapi. Its scattered range extends from Chad in the north to South Africa in the south, and from Niger in the west to Somalia in the east. Giraffes usually inhabit savannahs and woodlands. Their food source is leaves, frui ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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, towards Norton. Its stated purpose is to commemorate Patriotic Front guerrillas killed during the Rhodesian Bush War, and contemporary Zimbabweans whose dedication or commitment to their country justify their interment at the shrine. Persons buried here are considered heroes by the incumbent Zimbabwe African National Union – Patriotic Front regime, which has administered the country since independence at 1980. Indeed, most of the recipients of the 'hero status' were known to be Zanu-PF sympathisers. The actual monument itself is modeled after two AK-47s lying back-to-back; the graves are meant to resemble their magazines. The monument is an early example of work of the North Korean firm Mansudae Overseas Projects. It closely mirrors the design of the Revolutionary Martyrs' Cemetery in Taesong-guyŏk, just outside ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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. Notable rocks The Domboremari, also known as the Money Rock, is a formation of three boulders that form part of the Chiremba Balancing Rocks on the northwestern outskirts of Epworth (coordinates: ): this particular rock formation is notable because it appears in all Zimbabwean banknotes issued since 1981, and is also the prominent feature of the logo of the Reserve Bank of Zimbabwe The Reserve Bank of Zimbabwe is the central bank of Zimbabwe and is headquartered in the capital city Harare. History The bank traces its history to the Reserve Bank of Rhodesia, founded on 22 May 1964, but which succeeded the Bank of Rhodesia .... References {{Zimbabwe-struct-stub Harare Landforms of Zimbabwe Rock formations of Africa Geography of Harare Province ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zimbabwean Dollar
The Zimbabwean dollar (sign: $, or Z$ to distinguish it from other dollar-denominated currencies) was the name of four official currencies of Zimbabwe from 1980 to 12 April 2009. During this time, it was subject to periods of extreme inflation, followed by a period of hyperinflation. The Zimbabwean dollar was introduced in 1980 to directly replace the Rhodesian dollar (which had been introduced in 1970) at par (1:1), at a similar value to the US dollar. In the 20th century the dollar functioned as a normal currency, but in the early 21st century hyperinflation in Zimbabwe reduced the Zimbabwean dollar to one of the lowest valued currency units in the world. It was redenominated three times (in 2006, 2008 and 2009), with denominations up to a $100 trillion banknote issued. The final redenomination produced the "fourth dollar" (ZWL), which was worth 1025 ZWD (first dollars). Use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009. It ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitrage
In economics and finance, arbitrage (, ) is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalise on the difference, the profit being the difference between the market prices at which the unit is traded. When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price. In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to ''expected'' profit, though losses may occur, and in practice, there are always risks in arbitrage, some minor (such as fluctuation of prices decreasing profit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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