Botswana pula
Encyclopedia
The pula is the currency
of Botswana
. It has the ISO 4217
code BWP and is subdivided into 100 thebe. Pula literally means "rain" in Setswana, because rain
is very scarce in Botswana - home to much of the Kalahari Desert
- and therefore valuable. Pula also means "blessing" as rain is considered a blessing. Thebe means "shield".
at par. Despite a 12% devaluation
in May 2005, the pula remains one of the strongest currencies in Africa.
al 2 thebe coins were introduced in 1981, but discontinued after 1985. In 1991, bronze-plated steel replaced bronze in the 5 thebe, nickel-plated steel replaced cupro-nickel in the 10, 25 and 50 thebe and the 1 pula changed to a smaller, nickel-brass, equilateral-curve seven-sided coin. A similarly shaped, nickel-brass 2 pula was introduced in 1994. In 2004, the composition was changed to brass-plated steel and the size was slightly reduced.
In 1998, following the withdrawal of the 1 and 2 thebe, smaller 5, 10, 25 and 50 thebe coins were introduced, with the 5 and 25 thebe coins being seven-sided and the 10 and 50 thebe coins remaining round. A bimetallic 5 pula was introduced in 2000 composed of a cupronickel center in a ring made of Aluminium-Nickel-Bronze.
introduced notes in denominations of 1, 2, 5, and 10 pula; a 20-pula note followed on February 16, 1978. The 1 and 2 pula notes were replaced by coins in 1991 and 1994, whilst the first 50 and 100 pula notes were introduced on May 29, 1990, and August 23, 1993, respectively. The 5 pula note was replaced by a coin in 2000. The original 1, 2 and 5 pula banknotes were demonetized on 1 July 2011.
The latest series of notes was introduced on 23 August 2009. and contains for the first time, a 200-pula banknote.
in Zimbabwe
in 2006 to 2008, the government of Zimbabwe has allowed circulation of foreign currency since September 2008 and local currency became absolete since 12 April 2009. Both South African rand
and Botswana pula circulate in Zimbabwe.
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 Botswana
Botswana
Botswana, officially the Republic of Botswana , is a landlocked country located in Southern Africa. The citizens are referred to as "Batswana" . Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966...
. It has the ISO 4217
ISO 4217
ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...
code BWP and is subdivided into 100 thebe. Pula literally means "rain" in Setswana, because rain
Rain
Rain is liquid precipitation, as opposed to non-liquid kinds of precipitation such as snow, hail and sleet. Rain requires the presence of a thick layer of the atmosphere to have temperatures above the melting point of water near and above the Earth's surface...
is very scarce in Botswana - home to much of the Kalahari Desert
Kalahari Desert
The Kalahari Desert is a large semi-arid sandy savannah in Southern Africa extending , covering much of Botswana and parts of Namibia and South Africa, as semi-desert, with huge tracts of excellent grazing after good rains. The Kalahari supports more animals and plants than a true desert...
- and therefore valuable. Pula also means "blessing" as rain is considered a blessing. Thebe means "shield".
History
The pula was introduced in 1976, replacing the South African randSouth 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"...
at par. Despite a 12% devaluation
Devaluation
Devaluation is a reduction in the value of a currency with respect to those goods, services or other monetary units with which that currency can be exchanged....
in May 2005, the pula remains one of the strongest currencies in Africa.
Coins
In 1976, coins were introduced in denominations of 1, 5, 10, 25 and 50 thebe and 1 pula. The 1 thebe was struck in aluminium, with the 5 thebe in bronze and the others in cupro-nickel. These coins were round except for the scalloped 1 pula. Bronze, dodecagonDodecagon
In geometry, a dodecagon is any polygon with twelve sides and twelve angles.- Regular dodecagon :It usually refers to a regular dodecagon, having all sides of equal length and all angles equal to 150°...
al 2 thebe coins were introduced in 1981, but discontinued after 1985. In 1991, bronze-plated steel replaced bronze in the 5 thebe, nickel-plated steel replaced cupro-nickel in the 10, 25 and 50 thebe and the 1 pula changed to a smaller, nickel-brass, equilateral-curve seven-sided coin. A similarly shaped, nickel-brass 2 pula was introduced in 1994. In 2004, the composition was changed to brass-plated steel and the size was slightly reduced.
In 1998, following the withdrawal of the 1 and 2 thebe, smaller 5, 10, 25 and 50 thebe coins were introduced, with the 5 and 25 thebe coins being seven-sided and the 10 and 50 thebe coins remaining round. A bimetallic 5 pula was introduced in 2000 composed of a cupronickel center in a ring made of Aluminium-Nickel-Bronze.
Banknotes
On August 23, 1976, the Bank of BotswanaBank of Botswana
The Bank of Botswana is the central bank of Botswana.When Botswana gained independence from Britain in 1966, the country was part of the Rand Monetary Area. In 1974 Botswana withdrew from the RMA, and the Bank of Botswana and Financial Institution Acts established the legal framework for a central...
introduced notes in denominations of 1, 2, 5, and 10 pula; a 20-pula note followed on February 16, 1978. The 1 and 2 pula notes were replaced by coins in 1991 and 1994, whilst the first 50 and 100 pula notes were introduced on May 29, 1990, and August 23, 1993, respectively. The 5 pula note was replaced by a coin in 2000. The original 1, 2 and 5 pula banknotes were demonetized on 1 July 2011.
The latest series of notes was introduced on 23 August 2009. and contains for the first time, a 200-pula banknote.
Zimbabwe
Due to hyperinflationHyperinflation
In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...
in Zimbabwe
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
in 2006 to 2008, the government of Zimbabwe has allowed circulation of foreign currency since September 2008 and local currency became absolete since 12 April 2009. Both 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"...
and Botswana pula circulate in Zimbabwe.