Namibian Dollar


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Namibian Dollar

The currency of Namibia. It was introduced in 1993, replacing the South African rand. It is pegged to the rand at par; because of this, both the dollar and the rand are accepted as legal tender in Namibia.
References in periodicals archive ?
When Junior Achievement Namibia informed me of the news that I was to be one of four girls to attend a Leadership Achievement Empowerment and Development (LEAD) Camp in Lagos, Nigeria, the first thing that came into my mind was "what am I going to buy in that country," as I thought of the high exchange rate of the Nigerian Naira to our Namibian Dollar. But when I landed at Lagos airport I discovered that I had a completely different picture in mind.
* Currency: The Namibian dollar (N$) is fixed and equals the South Africa Rand which is also legal tender throughout Namibia
The 12 percent rise in the value of the national currency (the Namibian dollar) relative to the US dollar contributed to an increase in real income.
The fortunes of the Namibian dollar are not a vital focus of George Soros or likeminded students of arcane currencies.
time zone: GMT +1hr currency: Namibian Dollar EUR1 = 10.4 best time to go: Year-round but the months of April and May usually have some especially delightful weather
Namibia Population 2.1m Capital Windhoek Area 823,145k[m.sup.2] Monetary unit Namibian dollar (N$7.2 = $1.00, 2011 average) GDP: (PPP) $16.5bn GDP per $8,200 PPP capita Real GDP 4.4% growth Inflation 6.9% (March 2012) Natural Diamonds, uranium, resources zinc, gold, copper, lead, tin, fluorspar, salt, fisheries and wildlife Agricultural Livestock and meat production products, crop farming and forestry, fish and fish products Mining Gem-quality diamonds, uranium, zinc, copper and other minerals Exports Diamonds, uranium, zinc, copper, lead, beef, cattle, fish, karakul pelts, grapes ($3.34bn) Imports Foodstuffs, construction materials, manufactured goods - ($4.11bn) Major trading South Africa, partners Angola, Botswana, Germany, UK, US Total external $2.22bn debt
Drastic cuts in fishing quotas are spelling more trouble for the sector, already fighting a financial crisis brought about by an overheated Namibian dollar and oil price hikes.
We had some worries about the weakening of the Rand and the Namibian dollar, but the physical equipment is still priced within the range of a household appliance, and although the cost has increased slightly, we see no reduction in demand."
The solid rand is supporting the Namibian dollar, Lesotho's maluti and Swaziland's lilangeni, which are 100% pegged to the South African unit.
Namibia is not in plans to delink the Namibian dollar from the South African Rand despite costs involved in the arrangement, said the central bank s director of strategic communication and financial sector development Ndangi Katoma on Monday.
The Namibian Dollar has depreciated by about 18% to the US Dollar since the beginning of this year.
The Namibian operation was hard hit last year by the strengthening of the South African currency, to which the Namibian dollar is tied in the rand-led common monetary area.

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