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Namibia currency is a principal aspect of the economy of the country. The currency of Namibia plays a crucial role in all domestic and international economic and financial transactions of Namibia. The country has two currencies namely Namibian Dollar which is NAD and South African Rand which is ZAR. These two currencies make up the Namibia currency.
The Namibian Dollar is the major currency of Namibia. The notes of this Namibian currency are in denominations of NAD200, NAD100, NAD50 and NAD10. The denominations of the coins are NAD5 and NAD1. The Namibian Dollar is related to South African Rand which is the other currency in Namibia in proportion of 1:1. South African Rand equals 100 cents.
The export and import of Namibia currency function under various limitations and restrictions. Only the currency denominations up to NAD50, 000 can be imported or exported. But foreign currency of any denomination can be imported. There is no currency limitation between Namibia, Botswana, South Africa, Lesotho and Swaziland. The reason behind this is these countries belong to the same monetary region.
Currency exchange is available in the Namibian banks and in the bureau de change of the country. Traveler’s cheques rather than cash provide a better exchange rate in Namibia. Various other aspects of Namibia currency are credit cards, debit cards and travelers cheques. Credit and debit cards in Namibia include American Express, Diners Club etc.
Namibian currency can be converted into other international currencies on basis of certain rate of exchange. Thus the currencies of Namibia can be converted into U.S Dollar, U.K Pound, Euro and also into various other currencies of different countries like the Japanese currency, the Mexican currency etc. Information about Namibia thus is incomplete without knowledge of the various aspects related to the Namibia currency.
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