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Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
The dollar replaced the South African rand, which had been the country's currency while it was under South African rule as South-West Africa from 1920 until 1990, at par. . The rand is still legal tender, as the Namibian dollar is linked to the South African rand and can be exchanged on a one-to-one basis loca
The value of Zambian currency dropped following redenomination; the exchange rate was 22 kwacha to one U.S. dollar in April 2021. After the 2021 Zambian general election saw a defeat for Edgar Lungu, the currency's depreciation was reversed; as of 27 August 2021 one U.S. dollar was exchanged for about 16 kwacha. [5]
The CMA was replaced by the present Multilateral Monetary Area (MMA) in February 1992, when Namibia formally joined the monetary union. In 1993 Namibia issued its own currency, the Namibian dollar. In 2002 a new revenue-sharing formula was introduced in SACU, which included a development component.
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
Namibian dollar: Bank of Namibia: 1990 Nauru: Australian dollar: No central bank; uses the Australian dollar as its domestic currency Nepal: Nepalese rupee: Nepal Rastra Bank: नेपाल राष्ट्र बैंक 1956 Netherlands: Euro: European Central Bank (De Nederlandsche Bank) 1814 New Caledonia: CFP franc
Usage of: West African CFA franc Central African CFA franc The West African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XOF; abbreviation: F.CFA) is the currency used by eight independent states in West Africa which make up the West African Economic and Monetary Union (UEMOA): Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
Usage of: West African CFA franc Central African CFA franc The Central African CFA franc (French: franc CFA or simply franc; ISO code: XAF; abbreviation: F.CFA) is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon.