Namibian dollar
| Namibian dollar | |
|---|---|
10, 50 cents, N$1, N$5, N$10
|
|
| ISO 4217 | |
| Code | NAD |
| Denominations | |
| Subunit | |
| 1/100 | cent |
| Symbol | N$ |
| Banknotes | $10, $20, $50, $100, $200 |
| Coins | 5, 10, 50 cents, $1, $5, $10 |
| Demographics | |
| User(s) |
 Namibia (alongside South African rand) |
| Issuance | |
| Central bank | Bank of Namibia |
| Website | www |
| Valuation | |
| Inflation | 5.5% |
| Source | The World Factbook, 2013 est. |
| Pegged with | South African rand at par |
The Namibian dollar (symbol: $; code: NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign $, or alternatively N$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
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. 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 locally. Namibia was also part of the Common Monetary Area from independence in 1990 until the introduction of the dollar in 1993.
In 1990, moves were under way to replace the rand with a new Namibian currency. The name kalahar was proposed, as the Kalahari Desert is located in eastern Namibia. The name of Namibia's central bank was going to be known as the Namibia Reserve Bank. Denominations of this planned currency included 2, 5, 10, and 20 kalahar. (Note: There were two different designs for the 20 kalahar specimen notes.) These plans came to nothing, but some specimen notes were printed in a range of denominations.
The Bank of Namibia issued the first banknotes on 15 September 1993 and, in December, issued the first national coins.
Coins in circulation
Years of mintage are 1993, 1996, 1998, 2000, 2002, 2008, 2009 and 2010. The cent coins are made of nickel plated steel and the dollar coins of brass
...
Wikipedia