Currency in Zimbabwe: ZWL Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Zimbabwe with the Zimbabwean dollar.
What's in this Zimbabwe currency guide?
What currency is used in Zimbabwe?
The official currency of Zimbabwe (country code: ZW) is the Zimbabwean dollar, with symbol Z$ and currency code ZWL.
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Frequently Asked Questions
What currency should I use in Zimbabwe?
The domestic currency in Zimbabwe is the Zimbabwean dollar.
What is the Zimbabwean dollar currency code and symbol?
The three letter currency code for the Zimbabwean dollar is ZWL — symbol is Z$.
Which countries use the Zimbabwean dollar?
It is the domestic currency in Zimbabwe.
Is the Zimbabwean dollar a closed currency?
Yes the Zimbabwean dollar is a closed currency. Which means that you may find it difficult to purchase the currency (ZWL) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.
For more information and a full list of closed currencies please refer to our guide: What is a closed currency?
What are equivalent amounts of EUR and USD?
Here are some popular conversion amounts for EUR to USD (Euro to US dollar)*.
*Converted at the current EURUSD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the Zimbabwean dollar
Here are some things you might want to know about the Zimbabwean dollar:
- The Zimbabwean dollar was introduced in 1980, after the country gained independence from the United Kingdom.
- The value of the Zimbabwean dollar was initially tied to the value of the British pound. However, due to inflation and economic instability in the country, the value of the currency began to decline.
- The Zimbabwean dollar experienced hyperinflation in the 2000s, which led to the introduction of multiple new denominations of banknotes. At its peak, the rate of inflation in Zimbabwe was estimated to be over 79 billion percent.
- In 2009, the Zimbabwean dollar was officially abandoned as the country's currency. It was replaced by a basket of currencies, including the South African rand, the United States dollar, and the British pound.
- The Zimbabwean bond note was introduced in 2016 as a way to ease the shortage of cash in the country. However, the bond note has also been subject to high levels of inflation and has lost value over time.
Travel money for Zimbabwe
As mentioned above, the Zimbabwean dollar is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (ZWL) before departure and will need to buy it upon arrival in Zimbabwe.
For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the ZWL you will incur currency conversion or foreign transaction fees if you use a travel money card in Zimbabwe.
However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.
Throughout its past two decades of governmental mismanagement, political violence and economic disaster, Zimbabwe continued to welcome visitors with the same grace and politeness that they were famed for. And as a result those who did travel here usually left insisting that that the country was hands down one of the safest, friendliest and most spectacular countries on the continent.
Around 70% of Zimbabwe's 12 million people are Shona-speaking while some 20% are Ndebele speakers. English, the country's official language, is widely spoken and visitors to Zimbabwe are often struck by the friendliness and optimism of its people, despite recent hardships. The country is a profoundly religious one - nearly two thirds of the population attends church regularly - and some 85% consider themselves Christian.
What currency should I use in Zimbabwe?
The U.S. dollar is the official currency for governmental transactions in Zimbabwe. Also legal tender and widely accepted for non-governmental transactions are the Euro, the British Pound Sterling, the Pula, the South African Rand, plus several other currencies.You should check in advance if a restaurant or hotel will accept cards, especially outside Harare.
Most people rely on electronic bank transfers or mobile money to pay their bills, usually at a hefty premium.
Zimbabwe has introduced a local issue of Bond Coins to supplement the current money supply. The coins come the denominations of 1, 5, 10, 25 and 50 cents - they are on par with American coins. In supermarkets, you may be given change in chewing gum or sweets if there is no coinage available. Haggling for a better price is common, but keep in mind that most people are very poor.
It’s illegal to leave Zimbabwe with more than $2,000 (or equivalent) in cash. It’s illegal to exchange foreign currency anywhere other than at officially licensed dealers (eg banks). Carry small denomination notes as change is rarely available in smaller businesses.
Can you use credit cards in Zimbabwe?
The use of credit cards is still very limited, with only a few service providers accepting VISA or MasterCards in Zimbabwe.
Can you withdraw cash from ATMs in Zimbabwe?
ATM use is very limited for non-citizens, so please do yourself a favour and come with plenty of cash on hand. Zimbabwe is currently experiencing a severe shortage of cash so it’s mostly not currently possible to make cash withdrawals with an international bank card.
What is the ATM withdrawal limit in Zimbabwe?
Banks allow customers to withdraw just $20 a day, not in real dollars but in local bond notes. Long queues form each morning.
How to travel around Zimbabwe?
Air Zimbabwe has flights from Harare to Bulawayo (45 minutes) and Victoria Falls. New to Zimbabwe is FastJet, a popular budget airline offering cheap flights to Victoria Falls from Harare. There’s a domestic departure tax of US$15. The only way by air from Harare or Vic Falls to Kariba is to charter, which is very expensive. The charter companies can arrange charter flights, which will seat four to six people to Kariba, Mana Pools and Matusadona National Park from Harare or Vic Falls.
The express or ‘luxury’ buses operate according to published timetables. Check carefully, however, as most bus companies have both local (‘chicken buses’ for locals) and luxury coaches. For example, Pioneer and Zupco have both luxury and chicken buses.
Taxis are safe and reliable and can be booked through your hotel front desk. Most are metered, charging around US$2.50 for 1km at the time of writing. Taxis in cities travel within a 40km radius of the city. Always take a taxi at night.
Connecting Harare, Bulawayo, Mutare and Victoria Falls, all major train services travel at night. The most popular route is from Vic Falls to Bulawayo. Definitely opt for first class, which is good value, comfortable and gets you a sleeping compartment.
USD/ZWL Market Data
The below interactive chart displays the USD/ZWL change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Zimbabwe - Best Rates
To get a good (and fair) exchange rate when sending money to Zimbabwe you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Zimbabwe
When sending money to Zimbabwe it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Zimbabwean dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted ZWL amount will be transfered to the recipient account you specify in Zimbabwe.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Zimbabwean dollar deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Zimbabwe
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Zimbabwean dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the ZWL exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Zimbabwean dollar bank account: A local ZWL bank account can make it easier for you to manage your finances and pay bills while you are in Zimbabwe. It may also be more convenient to use a local ZWL bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Zimbabwe. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Zimbabwe. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Zimbabwe, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Zimbabwe.
What is the cost of living in Zimbabwe?
The cost of living in Zimbabwe is high. The country has a high inflation rate and many basic goods and services are expensive.
How is the expat life in Zimbabwe?
The expat life in Zimbabwe is generally positive. People are friendly and welcoming, and there are plenty of activities and amenities available. The cost of living is relatively low, and the climate is pleasant. However, the political situation is unstable, and the country has a high crime rate.
Any laws in Zimbabwe that foreigners should be aware of?
All foreigners should be aware of the visa requirements for Zimbabwe. A visa is required for all foreign nationals wishing to enter Zimbabwe, with the exception of nationals of Botswana, Malawi, Namibia, South Africa, and Zambia. All visitors must hold a passport valid for 6 months. Nationals of Barbados, Cyprus, Dominica, Grenada, Jamaica, Kenya, Mauritius, Papua New Guinea, Saint Lucia, Saint Vincent and the Grenadines, Samoa, Seychelles, Singapore, Solomon Islands, Tanzania, Tonga, Trinidad and Tobago, Tuvalu, Uganda, Vanuatu, and Zambia may obtain a visa on arrival for a maximum stay of 30 days.
What is doing business like in Zimbabwe?
The business environment in Zimbabwe is generally considered to be challenging. High levels of corruption, limited access to financing, and erratic power supply are some of the main constraints faced by businesses operating in the country.
How is the economy in Zimbabwe?
The economy in Zimbabwe is struggling. The country has high unemployment and inflation rates, and the government is struggling to pay for basic services.