The dollar has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign $, or alternatively N$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

Summary info

Summary information about Namibian dollar

ISO 4217 Code:

NAD

Currency sign:

N$

Country:

Namibia

Subunit:

cent

Coins:

5 cents, 10 cents, 50 cents, 1 dollar, 5 dollars

Banknotes:

10 dollars, 20 dollars, 50 dollars, 100 dollars, 200 dollars

Central bank:

Bank of Namibia

History

The Portuguese first reached the shores of Namibia in the 1480s. Germans began settling the area in the 1840s. When settlers requested protection from the British, but the British only annexed Walvis Bay and adjacent territories. German intervention caused German South West Africa (Deutsch Sudwestafrika) to become a German protectorate from April 24, 1884 until July 9, 1915 when it was occupied by South Africa. South Africa received a League of Nations mandate for South West Africa in 1920, and it became a UN trust territory in 1946 when the UN refused to allow South Africa to annex South West Africa. Namibia gained its independence on March 21, 1990 and Walvis Bay and several islands were transferred to Namibia on March 1, 1994.

German Paper Marks (DEP) and South West African Paper Marks (NAP) were used in South West Africa from 1884 until 1915. South African Pounds also circulated in Southwest Africa. On July 2, 1901, the German Mark was made the only legal tender, though South African and British coins continued to circulate until outlawed by the German Currency Decree of February 1, 1905. Initially, the South African government issued Mark (NAM) banknotes in Namibia, but after South Africa received a League of Nations mandate, they allowed private banks to issue legal tender currency in Southwest African Pounds (NAP) until December 31, 1961. South African Pounds (ZAP) were also legal tender in South West Africa.

The South African Rand (ZAR) replaced the Pound on February 14, 1961 at the rate of 2 Rand equal to 1 Pound. Only local banknotes, and no coins, were issued by Germany and South Africa before independence. South African coins were used for change. After the Rand was introduced in 1961, The South African Reserve Bank established a branch in Windhoek, and private banks were no longer allowed to issue banknotes. The Pound was divisible into 20 Shillings and 240 Pence, and the Rand was divisible into 100 Cents. South African Rand are still legal tender in Namibia.

Walvis Bay was a part of the Cape Colony from August 8, 1884 to May 30, 1910 and part of South Africa from May 31, 1910 to February 28, 1993 and used Cape Colony and South African currency.

Namibia established the Bank of Namibia in July 1990 and issued Namibian Dollars (NAD) at par with the South African Rand. Namibia had originally considered calling the currency the Kalahari and had specimen banknotes printed up in the new currency, but chose the Dollar instead. The Namibian Dollar is divisible into 100 Cents, and is issued by the Bank of Namibia.

Coins

The first consignment of Namibian coins arrived at Walvis Bay on 13 November 1993. Issuing of the coins to the commercial banks started on 08 December 1993. The denominations of the coins are 5c, 10c, 50c N$1-00 and N$5. The coins depict themes of the fauna and flora of Namibia. The metal composition of the coins ranges from Nickel bonded steel for the 5c, 10c and 50c whereas the N$1-00 and N$5-00 coin is made from Aluminium Bronze.

Banknotes

The first design of the banknotes dates back to September 1993, when N$10, N$50 and N$100 banknotes were officially introduced. In 1996, the N$20 and N$200 notes were put into circulation. These latter two notes were of the same designs of the 1993 notes and contained a number of trademarked security features. The N$10, N$50 and N$100 dollar banknotes were subsequently upgraded to include the same features as the N$20 and N$200. Security features found on the different denominations are standard. The only major differences on the older banknote series are that the N$100 has a silver foil patch and the N$200 banknote a gold foil patch, while the lower denominations have none. The security features ranges from Intaglio printing for the main features on the notes, a windowed security threat and a watermark of the main portrait.

Historically, Hendrik Witbooi, once a Namaqua chief and instrumental in leading the revolts against German rule at the turn of the 20th century, has been depicted on all Namibian banknotes. However, on 21 March 2012, the Bank of Namibia introduced a new series of banknotes to be issued in May 2012. A new family of banknotes have been issued by the bank in 2012. The main distinctive features of these notes are that the main portrait on the N$10,00 and N$20,00 are that of H.E. Dr. Sam Nujoma. The portrait of Kaptein Hendrik Witbooi remains the main theme on the N$50.00 N$100.00 and N$200.00 dollar notes. In addition to these dynamic designs, the security features of all denominations have been upgraded to include the most modern technologies like a securicoat, optical variation ink (OVI), Janus colour shifting window security thread.

NAD banknotes pictures gallery

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Useful links

About Bank of Namibia:

Bank of Namibia

List of currencies:

Currencies

Security and design features of NAD banknotes:

NAD banknotes

NAD currency on Wikipedia:

Namibian dollar

Official Website of Bank of Namibia:

Commemorative coins:

Commemorative Coins