Swaziland Lilangeni (SZL) is the official currency of Swaziland, formerly known as Swaziland, the southern A country in Africa.
The Central Bank of Swaziland, formerly known as the Central Bank of Swaziland, manages the Swaziland Emalangeni and is responsible for issuing and managing the country’s currency supply.
The currency code of Swaziland Lilangeni is SZL, and the commonly used symbol is “E”.
History of Swaziland Emalangeni
The Swaziland Lilangeni was introduced on 6 February 1974, replacing the South African Rand.
The South African rand and the Swaziland Lilangeni are both part of the common currency area, which also includes Lesotho and Namibia.
This arrangement allows participating countries’ currencies to be accepted as legal tender within their borders, with the South African Rand as the anchor currency.
Denominations and Breakdowns
The Swaziland Lilangeni is divided into 100 smaller units called cents.
Coins are available in denominations of 1, 2, 5, 10, 20 and 50 cents, and 1, 2 and 5 emalangeni.
Banknotes are available in denominations of 10, 20, 50, 100 and 200 Lilangeni.
The designs on Swaziland Lilangeni coins and banknotes often depict the country’s cultural symbols, historical figures and landmarks, reflecting the country’s rich heritage and history.
Exchange rate and economy
The Swaziland Lilangeni exchange rate is pegged to the South African Rand, which means that 1 Lilangeni equals 1 South African Rand.
This peg is due to the country’s participation in the common currency area.
Swaziland’s economy is closely linked to South Africa, which is its main trading partner.
The country’s economy is based on agriculture, forestry, mining and manufacturing, but faces challenges such as high unemployment, income inequality and vulnerability to fluctuations in global commodity prices.
Summary
The Swazi Lilangeni is the official currency of Swaziland and is administered by the Central Bank of Swaziland.
Introduced in 1974, it replaced the South African rand at face value and became part of the common currency area.
Currency is broken down into 100 cents, with coins and banknotes issued in various denominations.
Swaziland’s economy is based on agriculture, forestry, mining and manufacturing, but faces the challenges of high unemployment, income inequality and vulnerability to fluctuations in global commodity prices.
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