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Lilangeni
The lilangeni (plural: emalangeni, ISO 4217 code: ''SZL'') is the currency of Eswatini and is subdivided into 100 cents. It is issued by the Central Bank of Eswatini (in swazi ''Umntsholi Wemaswati'') and is authorised by the king and his family. The South African rand is also accepted in Eswatini. Similar to the Lesotho loti, there are singular and plural ''abbreviations'', namely L and E, so where one might have an amount L1, it would be E2, E3, or E4. History It was introduced in 1974 at par with the South African rand through the Common Monetary Area, to which it remains tied at a one-to-one exchange rate. The currency's name derives from ''emaLangeni'', a term used to describe the ancestors of the Swazi people who migrated to Swaziland in the 18th–19th centuries.http://www.sahistory.org.za/sites/default/files/file%20uploads%20/d._hugh_gillis_the_kingdom_of_swaziland_studiesbook4you.pdf Coins The currency's name derives from ''emaLangeni'' ("people from the Sun"), a te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African Rand
The South African rand, or simply the rand, ( sign: R; code: ZAR) is the official currency of the Southern African Common Monetary Area: South Africa, Namibia (alongside the Namibian dollar), Lesotho (alongside the Lesotho loti) and Eswatini (alongside the Swazi lilangeni). It is subdivided into 100 cents (sign: "c"). The South African rand is legal tender in the Common Monetary Area member states of Namibia, Lesotho and Eswatini, with these three countries also having their own national currency (the dollar, the loti and the lilangeni respectively) pegged with the rand at parity and still widely accepted as substitutes. The rand was also legal tender in Botswana until 1976, when the pula replaced the rand at par. Etymology The rand takes its name from the Witwatersrand ("white waters' ridge" in English, ''rand'' being the Dutch and Afrikaans word for 'ridge'), the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. In Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swaziland
Eswatini ( ; ss, eSwatini ), officially the Kingdom of Eswatini and formerly named Swaziland ( ; officially renamed in 2018), is a landlocked country in Southern Africa. It is bordered by Mozambique to its northeast and South Africa to its north, west, south, and southeast. At no more than north to south and east to west, Eswatini is one of the smallest countries in Africa; despite this, its climate and topography are diverse, ranging from a cool and mountainous highveld to a hot and dry Veld, lowveld. The population is composed primarily of ethnic Swazi people, Swazis. The prevalent language is Swazi language, Swazi (''siSwati'' in native form). The Swazis established their kingdom in the mid-18th century under the leadership of Ngwane III. The country and the Swazi take their names from Mswati II, the 19th-century king under whose rule the country was expanded and unified; its boundaries were drawn up in 1881 in the midst of the Scramble for Africa. After the Second Boer W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eswatini
Eswatini ( ; ss, eSwatini ), officially the Kingdom of Eswatini and formerly named Swaziland ( ; officially renamed in 2018), is a landlocked country in Southern Africa. It is bordered by Mozambique to its northeast and South Africa to its north, west, south, and southeast. At no more than north to south and east to west, Eswatini is one of the smallest countries in Africa; despite this, its climate and topography are diverse, ranging from a cool and mountainous highveld to a hot and dry lowveld. The population is composed primarily of ethnic Swazis. The prevalent language is Swazi (''siSwati'' in native form). The Swazis established their kingdom in the mid-18th century under the leadership of Ngwane III. The country and the Swazi take their names from Mswati II, the 19th-century king under whose rule the country was expanded and unified; its boundaries were drawn up in 1881 in the midst of the Scramble for Africa. After the Second Boer War, the kingdom, under the name of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Swaziland
The economy of Eswatini is fairly diversified. Agriculture, forestry and mining account for about 13 percent of Eswatini's GDP whereas manufacturing (textiles and sugar-related processing) represent 37 percent of GDP. Services – with government services in the lead – constitute the other 50 percent of GDP. Agriculture Title Deed lands, where the bulk of high-value crops are grown (sugar, forestry, and citrus) are characterized by high levels of investment and irrigation, and high productivity. Nevertheless, the majority of the population – about 75 percent—is employed in subsistence agriculture on Swazi Nation Land, which, in contrast, suffers from low productivity and investment. This dual nature of the Swazi economy, with high productivity in textile manufacturing and in the industrialized agricultural title deed lands on the one hand, and declining productivity subsistence agriculture on Swazi Nation Land on the other, may well explain the country's ove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Monetary Area
The Common Monetary Area (CMA) links South Africa, Namibia, Lesotho and Eswatini into a monetary union. It is allied to the Southern African Customs Union (SACU). The main purpose of this trade is that all of the parties can have the same development and equitable economic advance so they can be treated as a whole. Although the South African rand is legal tender in all states, the other member states issue their own currencies: the Lesotho loti, Namibian dollar and Swazi lilangeni. However, these are exchanged at par with the rand and there is no immediate prospect of change. Foreign exchange regulations and monetary policy throughout the CMA continue to reflect the influence of the South African Reserve Bank. Of the SACU members, only Botswana is currently out of the CMA, having replaced the rand with the pula in 1976. Botswana wanted to implement its own monetary policy and to adjust the exchange rate in case of any future problem in the economy that will affect their economy a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Swaziland
The Central Bank of Eswatini (Swazi: ''Umntsholi Wemaswati''), is the central bank of Eswatini. It was established in April 1974 and is based in capital Mbabane. According to the bank's website, the bank's mission is to promote monetary stability and foster a stable and sound financial system. Among the bank's responsibilities are managing Eswatini's foreign exchange position and safeguarding the country's foreign reserves of cash. The bank conducts weekly auctions of 91-day Swazi treasury bills, through "primary dealer" Swazi banks. The current governor is Dr. Phil Mnisi. Governors The governor of the bank is appointed by the King of Eswatini for a term of five years. * Ethan Mayisela, April 1974 - June 1978 * A. D. Ockenden, acting, June 1978 - June 1981 * H. B. B. Oliver, July 1981 - June 1992 * Martin Dlamini, acting, 1992 *James Nxumalo, July 1992 - June 1997 * Martin Dlamini, July 1997 - 2013 * Majozi Sithole, 2013 - 2022 * Dr. Phil Mnisi, 2022 - present List of authoriz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Eswatini
The Central Bank of Eswatini (Swazi: ''Umntsholi Wemaswati''), is the central bank of Eswatini. It was established in April 1974 and is based in capital Mbabane. According to the bank's website, the bank's mission is to promote monetary stability and foster a stable and sound financial system. Among the bank's responsibilities are managing Eswatini's foreign exchange position and safeguarding the country's foreign reserves of cash. The bank conducts weekly auctions of 91-day Swazi treasury bills, through "primary dealer" Swazi banks. The current governor is Dr. Phil Mnisi. Governors The governor of the bank is appointed by the King of Eswatini for a term of five years. * Ethan Mayisela, April 1974 - June 1978 * A. D. Ockenden, acting, June 1978 - June 1981 * H. B. B. Oliver, July 1981 - June 1992 * Martin Dlamini, acting, 1992 *James Nxumalo, July 1992 - June 1997 * Martin Dlamini, July 1997 - 2013 * Majozi Sithole, 2013 - 2022 * Dr. Phil Mnisi, 2022 - present List of authoriz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cent (currency)
The cent is a monetary unit of many national currencies that equals of the basic monetary unit. Etymologically, the word 'cent' derives from the Latin word meaning hundred. The cent sign is commonly a simple minuscule (lower case) letter . In North America, the c is crossed by a diagonal stroke or a vertical line (depending on typeface), yielding the character . The United States one cent coin is generally known by the nickname " penny", alluding to the British coin and unit of that name. Australia ended production of their 1¢ coin in 1992, as did Canada in 2012. Some Eurozone countries ended production of the 1 euro cent coin, most recently Italy in 2018. Symbol The cent may be represented by the cent sign, written in various ways according to the national convention and font choice. Most commonly seen forms are a minuscule letter ''c'' crossed by a diagonal stroke or a vertical line or by a simple ''c'', depending on the currency (''see below''). Cent amounts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units. This data is published in three tables: * Table A.1 – ''Current currency & funds code list'' * Table A.2 – ''Current funds codes'' * Table A.3 – ''List of codes for historic denominations of currencies & funds'' The first edition of ISO 4217 was published in 1978. The tables, history and ongoing discussion are maintained by SIX Group on behalf of ISO and the Swiss Association for Standardization. The ISO 4217 code list is used in banking and business globally. In many countries, the ISO 4217 alpha codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of translated c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lesotho Loti
The Loti (plural: Maloti) is the currency of the Kingdom of Lesotho. It is subdivided into 100 ''lisente'' (sg. ''sente''). It is pegged to the South African rand on a 1:1 basis through the Common Monetary Area, and both are accepted as legal tender within Lesotho. The loti was first issued in 1966, albeit as a non-circulating currency. In 1980, Lesotho issued its first coins denominated in both loti and lisente (dated 1979) to replace the South African rand, but the rand remains legal tender. The name derives from the Sesotho ''loti'', "mountain," while ''sente'' is from English " cent". In 1985, the ISO 4217 code was changed from into . Coins In 1980, coins dated 1979 were introduced in denominations of 1 sente, 2, 5, 10, 25 and 50 lisente and 1 loti. In 1996, 2 and 5 maloti coins were introduced, followed by 20 lisente in 1998. Coins in circulation are: * 5 lisente * 10 lisente * 20 lisente * 50 lisente * 1 loti * 2 maloti * 5 maloti Banknotes In January 1980, banknotes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Introduced In 1974
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] |
Fixed Exchange Rate
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate system. A fixed exchange rate is typically used to stabilize the exchange rate of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the currency is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike in a floating (flexible) exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large part of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
