Lesotho loti
Encyclopedia
The loti is the currency
of the Kingdom of Lesotho
. It is subdivided into 100 lisente (sg. sente). It is pegged to the South African rand
on a 1:1 basis through the Common Monetary Area
, and both are accepted as legal tender
within Lesotho. The loti was first issued in 1966, albeit as a non-circulating currency. In 1980, Lesotho issued its first coins denominated in both loti and lisente to replace the South African rand as legal tender.
s dated 1979 were introduced in denominations of 1 sente, 2, 5, 10, 25 and 50 lisente and 1 loti. In 1996, 2 and 5 maloti coins were introduced, followed by 20 lisente in 1998.
Coins in circulation are:
s dated 1979 were introduced in denominations of 2, 5 and 10 maloti. 20 and 50 maloti notes were added in 1981, followed by 100 and 200 maloti in 1994.
Banknotes in circulation
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of the Kingdom of Lesotho
Lesotho
Lesotho , officially the Kingdom of Lesotho, is a landlocked country and enclave, surrounded by the Republic of South Africa. It is just over in size with a population of approximately 2,067,000. Its capital and largest city is Maseru. Lesotho is a member of the Commonwealth of Nations. The name...
. It is subdivided into 100 lisente (sg. sente). It is pegged to the South African rand
South African rand
The rand is the currency of South Africa. It takes its name from the Witwatersrand , the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c"...
on a 1:1 basis through the Common Monetary Area
Common Monetary Area
The Common Monetary Area links South Africa, Lesotho and Swaziland into a monetary union. It is allied to the Southern African Customs Union . Namibia automatically became a member upon independence, but withdrew with the introduction of the Namibian dollar in 1993...
, and both are accepted as legal tender
Legal tender
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....
within Lesotho. The loti was first issued in 1966, albeit as a non-circulating currency. In 1980, Lesotho issued its first coins denominated in both loti and lisente to replace the South African rand as legal tender.
Coins
In 1980, coinCoin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s dated 1979 were introduced in denominations of 1 sente, 2, 5, 10, 25 and 50 lisente and 1 loti. In 1996, 2 and 5 maloti coins were introduced, followed by 20 lisente in 1998.
Coins in circulation are:
- 5 lisente
- 10 lisente
- 20 lisente
- 50 lisente
- 1 loti
- 2 maloti
- 5 maloti
Banknotes
In 1980, banknoteBanknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
s dated 1979 were introduced in denominations of 2, 5 and 10 maloti. 20 and 50 maloti notes were added in 1981, followed by 100 and 200 maloti in 1994.
Banknotes in circulation
- 10 maloti
- 20 maloti
- 50 maloti
- 100 maloti
- 200 maloti