Namibian Dollar flag

Namibian Dollar

Namibian Dollar

Currency Code

NAD

ISO 516

Symbol

NAD

Native: $

Decimal Digits

2

Rounding: 0

Countries

NA

Using this currency

Currency Units

Major Unit

Name: dollar

Symbol: $

Minor Unit

Name: cent

Symbol: c

Value: 0.01

Banknotes

Frequently Used

$10$20$50$100$200

Coins

Frequently Used

$1$5$1010c50c

Rarely Used

5c

Plural Forms

English Plural

Namibian dollars

Native Plural

Namibian Dollars

Overview

The Namibian Dollar is the currency of Namibia, pegged to the South African rand at par. It was introduced after independence in 1993 and coexists with the South African rand, which is also legal tender in Namibia.

Economy

  • Namibia is a member of AU, SADC, Commonwealth, SACU.
  • Main industries include: Meatpacking, Fish processing, Dairy products, Mining, Diamond cutting.
  • Namibia is part of the World Trade Organization.
  • Imports are foodstuffs, petroleum products, fuel, machinery, equipment, chemicals.
  • Major exports include diamonds, copper, gold, zinc, lead, uranium, cattle, processed fish, karakul skins.
  • GDP: $12.4 billion (2023 est.).
  • GDP per capita: 4,729 (2023 est.).
  • Unemployment rate: 33.4% (2016 est.).
  • Inflation rate: 5.9% (2023 est.).
  • Main trading partners: South Africa, Botswana, China, Belgium, United Kingdom, Spain.
  • Trade agreements: SACU agreements, SADC Trade Protocol, EPA with EU.

History

  • Previous currencies used: South African rand (continues to circulate).
  • The Namibian dollar was introduced in 1993, three years after independence. It was created to assert monetary sovereignty while maintaining economic ties with South Africa.
  • 1990: Namibian independence
  • 1993: NAD introduced, pegged to ZAR at par
  • 1994: Bank of Namibia established
  • 2012: New banknote series introduced
  • 2020: COVID-19 pandemic economic impact
  • Exchange rate peg: ZAR (1993-present) at 1:1 parity.
  • Currently pegged to ZAR at 1 NAD = 1 ZAR.

General Information

  • ISO 4217 Code: NAD
  • Symbols: NAD/$
  • Currency Subunits: 100 cents
  • Central Bank: Bank of Namibia
  • Monetary Policy: Currency board system maintaining ZAR parity. Monetary policy closely follows South African Reserve Bank decisions.
  • Bills: 10 NAD, 20 NAD, 50 NAD, 100 NAD, 200 NAD
  • Coins: 5 cents, 10 cents, 50 cents, 1 dollar, 5 dollars, 10 dollars
  • USD Exchange Rate: Variable (follows ZAR rate, approximately 18-19 NAD per USD)
  • Pegged To: ZAR at 1 NAD = 1 ZAR
  • Capital: Windhoek
  • Population: 2,604,172 (2023 est.)
  • Area: 824,292 km²
  • Languages: English (official), Afrikaans, German, Oshiwambo, Herero, Nama
  • Time Zones: UTC+2 (Central Africa Time)
  • Government Type: Presidential republic
  • Head of Government: President (head of state and government)
  • Independence: March 21, 1990 (from South African mandate)
  • Ethnic Groups: Ovambo 50%, Kavango 9%, Herero 7%, Damara 7%, Nama 5%, Caprivian 4%, San 3%, Baster 2%, Tswana 0.5%, Other 12.5%
  • Religions: Christian 80% to 90%, Indigenous beliefs 10% to 20%
  • Literacy Rate: 91.5% (2018 est.)
  • Transport: Hosea Kutako International Airport, good road network, railway to South Africa, Walvis Bay port
  • Communications: Good telecommunications, 51% internet penetration, wide mobile coverage
  • Energy: Hydroelectric 64%, Thermal 36%, solar projects developing
  • Countries Using This Currency: Namibia
  • Data Sources: Central Bank: Bank of Namibia (bon.com.na), Economic Data: Namibia Statistics Agency, World Bank, IMF, Trade Data: Namibia Revenue Agency, Demographic Data: Namibia Statistics Agency, Geographic Data: Namibia Meteorological Service, Historical Data: Bank of Namibia archives
  • Last Updated: 2025