Lesotho Monetary Unit refers to the official currency of Lesotho, a landlocked country located in southern Africa. The Lesotho monetary unit is known as the Lesotho Loti (plural: Maloti), with the international currency code LSL. The Lesotho Loti is used as a legal tender within the borders of Lesotho.
The Lesotho Monetary Unit is represented by banknotes and coins, which are issued and controlled by the Central Bank of Lesotho, referred to as Bank of Lesotho. The Lesotho Loti is pegged to the South African Rand (ZAR) at par, meaning that the exchange rate between the two currencies is fixed, ensuring stability in trade and financial transactions between the two countries.
Banknotes in denominations of 10, 20, 50, 100, and 200 Maloti are commonly used, whereas coins are available in denominations of 1, 2, 5, 10, 20, and 50 lisente.
The Lesotho Monetary Unit plays a crucial role in the economy of Lesotho, facilitating domestic and international trade, as well as providing a store of value for individuals and businesses. It is accepted as a means of payment for goods and services within the country, and its value is guaranteed by the central bank.
In summary, the Lesotho Monetary Unit refers to the official currency of Lesotho, called the Lesotho Loti, which is issued and regulated by the Central Bank of Lesotho. It is pegged at par with the South African Rand and serves as a medium of exchange, store of value, and unit of account within the country.
