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Botswana 


Physical address and contact detail:
 
Bank of Botswana
 
Physical:
Khama Crescent
Government Enclave
Gaborone
Botswana
 
Postal:
Private Bag 154
Gaborone
Botswana
 
Phone:
+267 3606000      
 
Fax:
+267 37 1231
 
 
History:

Before independence in 1966, legal tender in the then Bechuanaland consisted of Pound Sterling and Union coins issued by the South African Reserve Bank, later replaced by South African Rands. In 1974, Botswana announced its intention to withdraw from the Rand Monetary Area, establish its own Central Bank and introduce its own national currency, the Pula. The Bank of Botswana Act came into force on 1 July 1975, bringing the Central Bank into existence, and on 23 August 1976 the Pula was released for circulation, initially at par with the South African Rand, which was being exchanged and withdrawn. Since 1977, after the transition period had expired, the Bank of Botswana has pursued monetary policy that is independent of that of South Africa. This remained the case until in 1974 when Botswana announced its intention to withdraw from the Rand Monetary Area, establish its own Central Bank and introduce its own national currency, the Pula. The Bank of Botswana Act came into force on 1 July 1975, bringing the Central Bank into existence, and on 23 August 1976 the Pula was released into circulation, initially at par with the South African Rand, which was being exchanged and withdrawn. Since 1977, after the transition period had expired, the Bank of Botswana has pursued monetary policies independent from South Africa.

 

 

 

 

 

 

 

 

 

 

 

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