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An employee's salary is normally paid in Namibian dollars, which is the local currency and income tax (maximum rate is 37% and is based on different income slabs) is deducted by the employer. One Namibian dollar (NAD) is always equal to one South African rand (ZAR). One United States dollar (1 US$ or US$1) = 14.50 Namibian Dollar (N$ or NAD). [31]
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, at par. . 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 loca
In 2020, it would be estimated that tourism would bring is $26 million Namibian dollars however due to the COVID-19 pandemic, Namibia saw a reduction of almost 90% in tourism. In the third quarter of 2021, there was an increase in tourism, however, it is estimated that it will be until 2023 when tourism returns to some kind of normality.
Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. [1]Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador, El Salvador, and Zimbabwe.
A host of local and international events influenced the currency after that, most notably the 1994 general election, which had it weaken to over R3.60 to the dollar, the election of Tito Mboweni as the governor of the South African Reserve Bank, and the inauguration of President Thabo Mbeki in 1999, which had it quickly slide to over R6 to the ...
United States dollar $ USD Centavo: 100 Ecuador: United States dollar $ USD Centavo: 100 Egypt: Egyptian pound: LE EGP Piastre [B] 100 El Salvador: United States dollar $ USD Cent: 100 Bitcoin [5] ₿ (none) Satoshi: 100000000 Equatorial Guinea: Central African CFA franc: F.CFA XAF Centime: 100 Eritrea: Eritrean nakfa: Nkf ERN Cent: 100 Estonia ...
The Namibian Stock Exchange (NSX) (Afrikaans: Namibiese Effektebeurs; German: Börse Namibia) is the only stock exchange in Namibia. Based in Windhoek , it is one of the largest stock exchanges on the African continent.
The East Caribbean dollar is pegged to the dollar at a fixed rate of 2.7:1, and is used by all of the countries and territories of the OECS other than the British Virgin Islands. In Lebanon, one dollar is equal to 15000 Lebanese pounds, and is used interchangeably with local currency as de facto legal tender. [22]