Swaziland, Lesotho, Namibia, and South Africa also are members of the Common Monetary Area ( CMA ) in which repatriation and unrestricted funds are permitted.
12.
When the old pounds, shillings, and pence system was in operation, the United Kingdom and Ireland operated within the Sterling Area, effectively a single monetary area.
13.
A vigorous monetary economy developed based on the wide circulation of a common currency ( the dinar ) and the integration of previously independent monetary areas.
14.
It is pegged to the South African rand on a 1 : 1 basis through the Common Monetary Area, and both are accepted as legal tender within Lesotho.
15.
The money transfer to countries outside of common monetary area is particularly very expensive because of high banks commission and one of the poorest currency buying & selling rates.
16.
Lesotho, Swaziland, Namibia, and South Africa also form a common currency and exchange control area known as the Rand Monetary Area that uses the South African rand as the common currency.
17.
There has been widespread acceptance of the Namibia Dollar throughout the country and, while Namibia remains a part of the Common Monetary Area, it now enjoys slightly more flexibility in monetary policy although interest rates have so far always moved very closely in line with the South African rates.
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