Namibia Reserve Bank
Encyclopedia
The Namibia Reserve Bank (or Namibie Reserwebank in Afrikaans
) was the proposed name of Namibia's central bank upon Namibia
's independence within the Commonwealth of Nations
in March 1990. Moves were under way during 1990 to replace the South African rand
with a proposed currency called the kalahar. Eventually, the plans came to nothing, so the Bank of Namibia
was opened in 1993, and the Namibian dollar
was adopted.
Afrikaans
Afrikaans is a West Germanic language, spoken natively in South Africa and Namibia. It is a daughter language of Dutch, originating in its 17th century dialects, collectively referred to as Cape Dutch .Afrikaans is a daughter language of Dutch; see , , , , , .Afrikaans was historically called Cape...
) was the proposed name of Namibia's central bank upon Namibia
Namibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
's independence within the Commonwealth of Nations
Commonwealth of Nations
The Commonwealth of Nations, normally referred to as the Commonwealth and formerly known as the British Commonwealth, is an intergovernmental organisation of fifty-four independent member states...
in March 1990. Moves were under way during 1990 to replace 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"...
with a proposed currency called the kalahar. Eventually, the plans came to nothing, so the Bank of Namibia
Bank of Namibia
The Bank of Namibia was established in 1993 to replace the never opened Namibia Reserve Bank. 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...
was opened in 1993, and the Namibian dollar
Namibian dollar
The dollar has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign $, or alternatively N$ to distinguish it from other dollar-denominated currencies...
was adopted.