What is the Currency of Swaziland?

By Marques Hayes on September 6 2017 in Economics

A Swazi lilangeni banknote.

The Swazi lilangeni(SZL) is the official currency of the Kingdom of Swaziland. The lilangeni is tied to the South African rand(ZAR). Both currencies are tied to each other at a one to one exchange rate.

Swaziland gained its independence from the UK in 1968. However, the Swazi lilangeni was not introduced until 1974. Its introduction was to compete with the South African rand. Between 1961 and 1974, the South African rand was the official currency of Swaziland. Today, the South African rand is still accepted as legal tender in Swaziland.

To explain the distinction that the South African rand has in Swaziland, consider the location of Swaziland. The country of Swaziland is bordered by South Africa to its west. It is part of the Southern African Customs Union, founded in 1910. This is a trade bloc that has a free trade area. There is a free trade of goods between Swaziland, Lesotho, South Africa, Botswana, and Namibia. All of the nations in the SACU have a common external tariff.

One Swazi lilangeni = 100 cents. The Central Bank of Swaziland issues Swazi currency in these denominations.

Coins: 10 cents, 20 cents, 50 cents, L1, E2, E5. E refers to the plural form of lilangeni, emalangeni.

Banknotes: E10, E20 , E50, E100, E200

King Mswati III, the monarch of Swaziland, is featured on every banknote.

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