Common Monetary AreaThe Common Monetary Area (CMA) links South Africa, Namibia, Lesotho and Eswatini into a monetary union. The Southern African Customs Union (SACU) includes all CMA members in addition to Botswana, which replaced the rand with the pula in 1976 as a means of establishing an independent monetary policy. The CMA facilitates trade and promotes economic development between its member states.
BanknoteA banknote or bank note – also called a bill (North American English) or simply a note – is a type of paper money that is made and distributed ("issued") by a bank of issue, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank.
Central Bank of LesothoThe Central Bank of Lesotho (Sotho: Banka e Kholo ea Lesotho) is the central bank of Lesotho, in southern Africa. The bank is located in Maseru and its current governor is Dr. Emmanuel Letete (effective from June 2022). The bank was established in 1978 as the Lesotho Monetary Authority.South African randThe South African rand, or simply the rand, (sign: R; code: ZAR) is the official currency of South Africa. It is subdivided into 100 cents (sign: "c"), and a comma separates the rand and cents.
LesothoCountry in Southern AfricaLesotho ( ; Sotho pronunciation:), officially the Kingdom of Lesotho, is a landlocked country in Southern Africa. Surrounded by South Africa, it is the largest of the three sovereign enclaves. Lesotho is located in the Maloti Mountains, with the highest peak in southern Africa. It has an area of over 30,000 km (11,600 mi), with a population of about 2.3 million. Its capital and largest city is Maseru.Legal tenderLegal tender is a form of money that the law recognises as valid for the discharge of a monetary debt in a jurisdiction. What constitutes legal tender varies between jurisdictions. However, legal-tender status generally does not require a seller to accept a particular form of payment before entering into a transaction.Cent (currency)The cent is a monetary sub-unit of many currencies that equals a hundredth (1⁄100) of the currency's base unit. The word derives from the Latincentum, 'hundred'. The cent sign is commonly a simple minuscule (lower case) letter c, such as with the euro. In North America, the c is crossed by a diagonal or vertical stroke (depending on typeface), yielding the character ¢.
CoinA coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. The faces of coins or medals are sometimes called the obverse and the reverse, referring to the front and back sides, respectively.CurrencyA currency is a standardized form of money, in use or circulation as a medium of exchange, for example banknotes, coins, electronic balances in online bank accounts, and central bank digital currencies (CBDCs). 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.
ISO 4217Standard defining codes for currenciesAn airline ticket showing the price with ISO 4217 code "EUR" (bottom left) and not with euro currency sign "€"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 currencies and their minor units.
Sotho languageSotho (), also known as Sesotho (), Southern Sotho, or Sesotho sa Borwa, is a Southern Bantu language spoken in Lesotho, as its national language, and South Africa, where it is an official language. Like all Bantu languages, Sesotho is an agglutinative language, using numerous affixes and derivational and inflexional rules to build complete words.*As an Amazon Associate I earn from qualifying purchases.