Central Banking

Namibian Bill could remove SA money

A Parliamentary Bill in Namibia which will give the Finance Minister the option of deciding when Namibia will stop using South African notes and coins was the first legislation to be passed in the National Assembly this year.

According to the new Bill, once the Finance Minister has decided to stop accepting South African notes and coins as legal tender, bearers of such currency will have two years to exchange them for Namibian currency at a rate to be determined by the Bank.

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