The Namibian Dollar is the official currency of Namibia. After the country gained its independence in 1990, the Dollar was introduced in 1993 to replace the South African Rand. The Rand is still legal tender, since the Namibia Dollar is pegged to the Rand.
The Namibian Dollar is the currency in Namibia (NA, NAM). The symbol for NAD can be written N$. The Namibian Dollar is divided into 100 cents. The exchange rate for The Namibian Dollar was last updated on May 24, 2019 from Yahoo Finance. The NAD conversion factor has 5 significant digits.
Namibia’s economy is dependent on mining and developing minerals for export.
Mining accounts for 20% of Namibia’s GDP. Its valuable diamond deposits make Namibia the primary source of gem-quality diamonds.
Namibia is the fourth-largest exporter of non-fuel minerals in Africa, produces large amounts of zinc, lead, tin, tungsten, and silver, and is the fifth-largest uranium producer.
Almost half of the population depends on agriculture for survival.
Privatization of Namibian enterprises is one of the reasons for future investment.
The South African Rand was the official currency from 1920 to 1990. The Rand is still considered legal tender in Namibia; the Namibia Dollar is pegged to the Rand at a rate of 1:1.
Namibia was a member of the Common Monetary Area after it gained independence in 1990 until the introduction of the Namibia Dollar in 1993.
In September 15, 1993, the first banknotes were issued by the Bank of Namibia; the first coins were introduced in December of the following year.
The Suriname Dollar was introduced in 2004, and as such is a fairly new form of currency. Suriname is located on the north coast of South America, between Guyana and French Guiana. Although it is fairly large (approximately 64,000 square miles), Suriname is a minor state in South America. The population of 470,000 live mostly in the northern part of the country, around the capital of Paramaribo.
The Suriname Dollar is the currency in Suriname (SR, SUR). The symbol for SRD can be written $Sur. The Suriname Dollar is divided into 100 cents. The exchange rate for the Suriname Dollar was last updated on May 24, 2019 from Yahoo Finance. The SRD conversion factor has 3 significant digits.
Suriname’s resources are attracting foreign businesses and investment for several reasons, from cheap electricity costs to major reserves of specific minerals.
The agricultural sector has shown through the centuries that it can diversify and is currently in a somewhat stable position. It accounts for almost 10% of the GDP and employs approximately 8% of the total workforce of about 166,000.
Currently this sector produces plantains, rice kernels, peanuts, coconuts, beef, and shrimps.
The country has several large export partners, including Canada, the Netherlands, Belgium, the United Arab Emirates, and the United States.
The Dollar replaced the Suriname Guilder on January 1, 2004 at a rate of 1 Dollar = 1000 Guilders.
The old 1-cent coins (100 to a Guilder) were declared to be worth their face value in the new cents, so that new coins did not need to be made.
The US Dollar is used to quote prices for electronic goods, household furnishings, appliances, and automobiles.