Countries that use the BWP
Currency Exchange Rates for Botswana Pula? Convert GBP to BWP at todays exchange rate. See historical and money transfer restrictions for Botswana.
It is not uncommon for an individual who has settled abroad or in another country to send money back home. There are plenty of options that are available, with different features that allow you to send large amounts or make instant money transfer. If you are looking to make instant transfers, here are a few tips that can assist you.
How you want to transfer
With the progression of technology and economy, you have plenty of choices to make money transfers. Some of the options that are available for instant money transfer include e- transfer and power transfers to BWP. You can even opt for international bank accounts that have branches within the home country and abroad.
In certain options, there may not be money transfers available at all locations. While you can avail of the offline routes, it is mostly the online options that are available to the urban areas. Normally currency like US dollar, Euro, and pound sterling are common currencies that are permitted by most banks. However, if you want to use currencies apart from these, you will need to check out other available options in BWP.
Cost of service
Before you choose an option to transfer your money, you will need to check your funds. It is known the fact that there is an inverse relationship between the speed of transfer and the costing for the service. For example, BWP is costlier via drafts and cheques. It normally takes anywhere less than 1 to 5% of the funds you will need to send. Other options like the Western Union charge a higher commission with nearly 25 to 35% more than banks.
Speed and cost alone may not be factors you will need to consider when transferring funds. Convenience for both the sender and the receiver must also be a factor that needs to be considered.
Currency Information on Botswana Pula BWP— Botswana Pula – P
Introduced in 1976, the pula replaced the South African rand at a ratio of 1:1. It is still one of the strongest African currencies, even though it suffered 12% devaluation in 2005.
In Zimbabwe, foreign currency is allowed to circulate as a result of hyperinflation during the 2006-2008. To this end, several currencies are in circulation within Zimbabwe, including the Botswana pula.
Botswanan coins in circulation include; 5, 10, 25 and 50 thebe – 1 pula = 100 thebe – and 1,2 and 5 pula. Banknotes in the Botswanan currency are available in denominations of 10, 20, 50, 100 and 200 pula.
I came to the UK to study a PHD four years ago and I'm working in a full-time job now. Whenever I need to send money to back to my country, either to pay some bills or to help my family out, I always turn to companies specialised in international money transfer. You can lose lots of money if you don’t get expert information on foreign exchange!
Comment written by Janaina Carvalho.
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