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Lesotho Currency |
Currency
Management by the Central Bank of Lesotho includes, inter
alia, handling of bulk deposits and withdrawals by
commercial banks, sorting of maloti notes and coins and the
systematic issue of new and re-usable currency. It also
includes acceptance and onward repatriation of South African
rand currency to South African Reserve Bank (Bloemfontein
Branch) in accordance with the bilateral agreement between
Lesotho and South Africa. Whilst the South African currency
enjoys legal tender status in Lesotho, the policy of Central
Bank of Lesotho has been to promote the use of maloti
currency in the country and in that regard, local commercial
banks, have been urged, to issue maloti to the public and
only in the event of need, rand currency. The collected rand
currency by commercial banks through deposits by the public
is to be deposited with Central Bank of Lesotho.
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