Bank of Botswana

The Bank of Botswana (BoB; Tswana: Polokelo ya Madi ya Botswana) is the central bank of Botswana.

Bank of Botswana
Banka Ya Botswana
HeadquartersGaborone, Botswana
Established1 July 1975 (1975-07-01)
OwnershipGovernment of Botswana 100%
GovernorMoses Dinekere Pelaelo
Central bank ofBotswana
CurrencyBotswana pula
BWP (ISO 4217)
Reserves7 390 million USD
Bank rate3.75%
Websitebankofbotswana.bw

When Botswana gained independence from Britain in 1966, the country was part of the Rand Monetary Area (RMA). In 1974 Botswana withdrew from the RMA, and the Bank of Botswana and Financial Institution Acts established the legal framework for a central bank in Botswana to be established in July 1975, with Christopher H. L. Hermans as the first Governor. The pula was launched as a national currency in 1976, and in 1977 the Bank of Botswana became the government banker.

The Bank manages Botswana's sovereign wealth fund, the Pula Fund.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.