Bank Exchange Rates for Botswana Pula
Bank Exchange Rates for Botswana - BWP - Botswana Pula - P. The foreign exchange rates for Botswana also known as the ISO code BWP or the Botswana Pula currency and as a symbol P. Send Money Transfer to Botswana.
Botswanan coins in circulation include; 5, 10, 25 and 50 thebe – 1 pula = 100 Thebe – and 1,2 and 5 Pula. Banknotes in the Botswanan currency are available in denominations of 10, 20, 50, 100 and 200 Pula.
Bank Exchange Rates for Botswana
Introduced in 1976, the Pula replaced the South African rand at a ratio of 1:1. It is still one of the strongest African currencies, even though it suffered 12% devaluation in 2005.
The Botswana Pula is the official currency of the Republic of Botswana. It is issued and circulated by the Central Bank of Botswana. The Botswana Pula was introduced in 1976 to replace the South African Rand at a ratio of 1:1 following the decision to withdraw from the Rand Monetary Area. The code for the Botswana Pula is BWP while its symbol is P. In the Setswana language, Pula means rain which is rare in the country which is majorly within the Kalahari Desert. Therefore rain is a valuable and precious commodity just like money. The Pula is divided into minor units called thebe. 100 thebe make up one Pula. Thebe means defence in the Setswana language.
Currency Rate for Botswana
The Pula is circulated both as coins and notes. There exists 5, 10,25 and 50 thebe coins as well as 1,2 and 5 Pula coins. The bank notes are in denominations of 10,20,50,100 and 200 Pula though in 1976, 1,2 and 5 Pula notes were issued and circulated . The first 20 Pula note was introduced in 1978. From 1991-1994, one and two Pula notes were replaced by coins. In 2000, the five Pula note was replaced by a coin. The original notes were discontinued following the replacement the by the coins. In 2009, during the 33rd anniversary of the Pula, the 200 Pula note- largest Pula denomination was introduced. It bears the image of a woman teaching representing the importance of education and the contribution of women in the society.
Currency Rates for Botswana Pula
Following abolishment of foreign exchange controls in 1999, the Botswana Pula is fully convertible. The Botswana Pula operates using the crawling band exchange rate following the International Monetary Fund's (IMF) Special Drawing Rights (SDR) and uses the South African Rand as Reserve assets. Despite a 12% devaluation in 2005, the Pula is still among the strongest currencies in Africa. It is currently exchanging at a rate of 1 BWP = 0.096 US dollars. Following the hyperinflation in Zimbabwe from 2006 to 2008 , the Botswana Pula is used along with other foreign currencies in Zimbabwe.
GBP to BWP
In Zimbabwe, foreign currency is allowed to circulate as a result of hyperinflation during 2006-2008. To this end, several currencies are in circulation within Zimbabwe, including the Botswana pula. Bank Exchange Rates for Botswana Pula. The foreign exchange rates for Botswana also known as the ISO code BWP. Send money transfer online with us with the cheapest options.