The Zimbabwean dollar's predecessor, the Rhodesian dollar, was essentially equal to half of the value of the pound sterling at the time of its adoption (during the decimalisation of 1970). On 24 June 2019, the Reserve Bank of Zimbabwe abolished the multiple-currency system and replaced it with a new Zimbabwe dollar (the RTGS Dollar), which was the only official currency in the country between June 2019 and March 2020, after which multiple foreign currencies were allowed again. In place of the Zimbabwean dollar, currencies including the South African rand, Botswana pula, pound sterling, Indian rupee, euro, Japanese yen, Australian dollar, Chinese yuan, and the United States dollar were used. It was demonetised in 2015, with outstanding accounts able to be reimbursed until 30 April 2016. Use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009. The final redenomination produced the 'fourth dollar' (ZWL), which was worth 10 25 ZWD (first dollars).

It was redenominated three times (in 2006, 20), with denominations up to a $100 trillion banknote issued. 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. 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.

During this time, it was subject to periods of extreme inflation, followed by a period of hyperinflation. 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. This infobox shows the latest status before this currency was rendered obsolete. The currency lost half its value every 24 hours and 42 minutes. 2nd dollar: 1¢ to $500 million (bearer cheques), and $5 billion to $100 billion in ( agro-cheques).

20 cent euros valor em real