On 18 April 1980, the Republic of Zimbabwe was born from the former British colony of Southern Rhodesia. The Rhodesian Dollar was replaced by the Zimbabwean dollar at par value. When Zimbabwe gained independence, the Zimbabwean dollar was more valuable than the US dollar at the official exchange rates, however, this value did not reflect reality, and its black market value was lower.[4] In its early years, Zimbabwe experienced strong growth and development.