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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
The CMA was replaced by the present Multilateral Monetary Area (MMA) in February 1992, when Namibia formally joined the monetary union. In 1993 Namibia issued its own currency, the Namibian dollar . In 2002 a new revenue-sharing formula was introduced in SACU, which included a development component.
In 2022, Namibia was the seventh largest exporter of charcoal globally, with total export volumes of over 280,000 tonnes and revenues of USD 75 million. [35] Other products from local encroacher biomass include bush-based animal fodder, [ 36 ] [ 37 ] wood-plastic composite materials, [ 38 ] thermal energy in a cement factory [ 39 ] and a ...
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 Bank of Namibia was established in 1990 [2] by the Bank of Namibia Act, 1990 (Act 8 of 1990). [3] The Bank of Namibia is the only institution that is permitted to issue the Namibian dollar by authority that has been given to it under an Act of the Namibian Parliament. The head of the Bank of Namibia is the Governor of the Bank of Namibia.
This page was last edited on 15 February 2023, at 10:56 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
Namibian Stock Exchange; Type: Stock Exchange: Location: Windhoek, Namibia: Founded: 18 January 1904 (old) 30 September 1992 (current) Owner: Members: Key people: David Nuyoma (Chairman) Tiaan Bazuin : Currency: Namibian dollar: No. of listings: 44 which include 4 Commodity ETF’s (2017) Market cap: N$2 trillion (Sep 2018) Volume: N$13.859 ...
This is a list of commercial banks in Namibia, as updated in late 2024 by the Bank of Namibia. [1] List of commercial banks. Bank Windhoek Limited;