Currency Rates for Lesotho Loti
Bank Exchange Rates for Lesotho in Southern Africa - LSL - Lesotho Loti - L or M (if plural)
The foreign exchange rates for Lesotho in Southern Africa also known as the ISO code LSL or the Lesotho Loti currency and as a symbol L or M (if plural).
Coins are available in denominations of 1, 2, 5, 10, 20 and 50 lisente and 1, 2, and 5, maloti, whilst banknotes are in circulation is denominations of 10, 20, 50, 100 and 200 maloti. Send Money Transfer to Lesotho.
Lesotho Loti is the main currency recognized by the Kingdom of Lesotho. The currency which is referred to as Maloti in plural, is split into 100 lisente and pegged to South African Rand with equal rate of 1:1. The two currencies are recognized as legal tender in Lesotho.
History of Lesotho Loti
Lesotho derives most of its economic strength from manufacturing, agriculture, and water. It also receives monetary assistance from other countries like USA, United Kingdom, World Bank and many other sources. The Loti was introduced in 1966 as non-circulating currency. It was until 1980 when coins and banknotes came into proper use. This was after Lesotho gained independence in 1966 from the United Kingdom and Lesotho decided to adopt its own currency to mark its independence. It then became a virtual currency until the coins and banknotes were created in 1980 to replace South African Rand as legal tender. The Loti was then introduced as Lesotho currency unit where 100 lisente is equal to one loti. The loti is equal to South African Rand which is still accepted in Lesotho as legal tender.
In 1980, coins which dated back to 1979 was was rolled out an came in denominations of 1, 2, 5, 10, 25, and 50 lisente. it is also available in 1, 2, and 5 maloti coins. Among the coins in circulation are 5, 10, 20, and 50 lisente. 1, 20 and 5 maloti coins are also in circulation.
Lesotho Loti banknotes are available in 2, 5 denominations and 10 maloti. 20, 50, 100, and 200 denominations were added later.
Series of banknotes was rolled out by the Central Bank of Lesotho in 2011 with an aim of fighting counterfeit notes. The notes have a portrait of the three members of the royal family who are the present king His Majesty Letsie III appearing in the middle, on the left is his father King Moshoeshoe II, while the founder of Basotho nation king Moshoeshoe stands on the right.
GBP to LSL
The official currency in the Kingdom of Lesotho is the Loti; the plural of ‘loti’ is ‘maloti’ and it is attached to the South African rand at par. Both the Loti and the rand are accepted as legal tender throughout Lesotho. One Loti is subdivided into 100 Sente, and the plural of Sente is ‘lisente’. Bank Exchange Rates for Lesotho Loti. The foreign exchange rates for Lesotho also known as the ISO code LSL. Send money transfer online with us with the cheapest options.