Common Monetary Area

The Common Monetary Area is a monetary union which includes South Africa, Namibia, Lesotho and Swaziland.

While each of these sovereign nations issues its own currency, all four currencies are governed by the South African Reserve Bank and are valued and exchanged at par with the South African Rand.

The South African Rand can be used as legal tender in all four countries which make up the Common Monetary Area. The Namibian dollar, Swazi lilangeni and Lesotho loti serve as legal tender within the respective countries.

More on this topic:
Online forex brokers compared
Guide to currency exchange