Botswana Pula Currency

Introduction

Botswana is situated in Southern Africa and is a sub Saharan country. Botswana has fair and free democratic elections and is covered up to 70% by the Kalahari Desert. Botswana in Africa was the poorest countries having GDP around US$70 as per capita in 1966. Botswana has moved into the middle-income status and is becoming the fastest growing economies with 9 percent average annual growth.

History

The Botswana Pula was introduced in the year 1976 in replacement of the South African rand. In May 2005, there was 12% devaluation, but remained as the strongest African currencies.

The Botswana Pula is the currency having code BWP and ISO 4217. This is subdivided into 100 thebe. Pula in Setswana meant ‘rain’ and as this is scarce in Botswana, it is very valuable. Pula also implies the meaning as blessing identical to rain and Thebe meant ‘shield’.

Coins and Bank notes

Coins were in denominations of 1, 5, 10, 25 and 50 thebe as well as 1 pula was introduced in 1976. 1 thebe was in aluminum, 5 thebe in bronze and others in cupronickel.

These coins were round in shape, but later dodecagonal bronze 2 thebe coins came in 1981, but discontinued within 4 years. Instead in 1994, 2 pula in nickel-brass was introduced and in 1998 1 and 2 thebe was withdrawn and 5, 10, 25 and 50 thebe coins came in versions such that 5 and 25 thebe coins were seven sided and 10 and 50 thebe coins were round shaped. In 2000, 5 pula was introduced composing brass ring with cupronickel in the center.

Banknotes were introduced in 1976 in varied denominations of 1, 2, 5, 10 & 20 Botswana pula. Later in 1991 and 1994, 1 and 2 pula notes came in the form of coins, while in 1992 and 1993 50 & 100 pula notes were introduced respectively. Gradually, in 2000 the 5 pula note was also in the coin form and the old 1, 2 and 5 pula notes were facilitated to be exchanged for 5 more years from 1 July 2006 at the central bank.

A series of new notes was introduced in 2009 on 24 August.

Exchange rates

Botswana Pulas per US dollar in 2003 was 4.9499, in 2002 it was 6.3278, in 2001 it was 5.8412, in 2000 it was 5.1018 and in 1999 it was 4.6244.