Currency Exchange Rates for Namibian dollar? Convert GBP to NAD at todays exchange rate. See money transfer for Namibia and historical to restrictions.
WHAT ARE THE NICKNAMES FOR THE CURRENCY?
The NAD stands for the Namibian dollar. The NAD has no nickname. The NAD is the official currency of the Namibian people. It is the official legal tender in Namibia. It is being used side by side with the South African Rand the currency they were using before gaining their independence in 1990.
NAME OF CENTRAL BANK
The name of the central bank of Namibia is Bank of Namibia. This bank is the official issuer of the currency.
WHAT IS INFLATION RATE IN THE COUNTRY?
The countries Inflation rate or otherwise the NAD inflation rate at the moment since June stands at 6.10 %. The country is about 47% country with the highest inflation rate in the world.
SPELLING AND CAPITALIZATION
The spelling of the currency is Namibian Dollar.
USE OF THE CURRENCY OUTSIDE THE COUNTRY
The only time is being used outside the country is in the bordering areas to exchange into the neighbouring country currencies.
EXCHANGING CURRENCY IN THE COUNTRY
It is easy to exchange into other currencies. The currency is being listed in the official stock exchange of the country.
CONVERTING FROM GBP POUNDS TO (CURRENCY) AND WHAT IT MEANS
The conversion rate of the NAD to GBP today stands at 16.98 NAD to 1 GBP. This means that for one NAD you get about 0.059 GBP.
WHAT IS THE SIGN FOR THE (CURRENCY)?
The currency uses dollar sign $ or to differentiate it is sometimes written as N$.
IS (CURRENCY) STABLE OR UNDERVALUED? AND WHAT IS THE CAUSE?
The currency is a bit stable. This is because their economy is based more on exportation of solid minerals.
WHAT ARE THE MAIN CURRENCIES IN USE AND WHY?
The Rand and NAD are their main currencies. This is because they were colonized by South Africa for some years. The two currencies are of the same value and worth in Namibia. They are used side by side.
Currency Information on Namibian Dollar - NAD — Namibian dollar – N$
Coins in circulation are in denominations of 5, 10, 50 cents, $1, $5 and $10. Banknotes in circulation are available in $10, $20, $50, $100 and $200 denominations.
The Namibian dollar was introduced in 1993, like most currencies with ‘dollar’ as the tile, the Namibian dollar uses a letter to differentiate itself from other dollar-based currencies, in this case it is ‘N’.
The Namibian dollar subdivides into 100 cents. The Namibian dollar was introduced with the aim of replacing the South African rand, however, both currencies are accepted in Namibia, and they are interchangeable, as the dollar is pegged to the rand at a 1:1 ratio.
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