Time Period: 1900-1980

Timeline

  • 23.01.1911
  • Ordinance [Union of South Africa and Basutoland (Coinage) Proclamation] on the sole legal tender status of United Kingdom coinage; effective 09.05.1911
  • 10.06.1932
  • Ordinance [Basutoland (Coinage) Proclamation, Nr. 491], partially revokes the 1911 proclamation; effective 21.01.1933 (commencement of the next currency ordinance)
  • ??.03.1933
  • Ordinance [Basutoland (Coinage) Proclamation, Nr. 2], enacts the and declares South African paper money and coins and British coins legal tender (proclamation of the South African "Currency and Exchanges Act"); effective 21.01.1933 (retroactive)
  • 14.02.1961
  • Introduction of the South African Rand (not clear if an explicit proclamation of the South African "Decimal Coinage Act", 1959, has been made)
  • 1966-1969
  • Issuance of collectors' coins in gold and silver (using the erroneous denomination "Maloti")
  • 05.12.1974
  • Agreement [Rand Monetary Area Agreement] between South Africa, Botswana, Lesotho, Swaziland to establish a common currency area (Botswana withdrew on 30.11.1976)


Time Period: 1980-

Currency: Lesothan Loti


Timeline

  • 06.09.1978
  • Law [Currency Act, No. 9] on the creation of a distinct currency; effective 02.01.1980
  • 02.11.1978
  • Law [Monetary Authority Act, No. 13] on the establishment of the monetary authority; effective upon constitution of the Authority on 02.01.1980
  • 22.01.1980
  • Start of issuance of the new currency; South African paper money and coins remain legal tender
  • ??.??.1982
  • Law [Monetary Authority (Amendment) Act, No. 2] on the partial transformation of the Monetary Authority into the Central Bank of Lesotho; effective 01.08.1982
    - Fully enacted by the law [Central Bank Act, Nr. 2]; effective 01.08.2000
  • 01.07.1986
  • Agreement [Common Monetary Area Agreement] between South Africa, Lesotho, Swaziland on the renewal of the common currency area (Namibia joined on 06.02.1992)

Valuation Regimes

  • 1980-
  • Fixed rate against South African Rand

Rate Arrangements

  • 22.01.1980
  • Fixed
  • South African Rand at 1 : 1
  • ±0.0%


End-year Forex Rates (Units per US Dollar)