BWPBotswana PulaBotswana Pula (BWP)
The Botswana pula is Botswana's national currency and a southern African unit associated with minerals, public finance and regional commerce.
- ISO code
- BWP
- Symbol
- P
- Region
- Africa
- Currency type
- Fiat currency
- Exchange system
- The Bank of Botswana issues pula banknotes and coins and manages monetary policy, reserves and the exchange-rate framework.
- Last reviewed
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Quick facts
BWP at a glance
Currency profile
How BWP works
The Botswana pula is Botswana's national currency and a southern African unit associated with minerals, public finance and regional commerce.
The Bank of Botswana issues pula banknotes and coins and manages monetary policy, reserves and the exchange-rate framework.
- BWP is divided into 100 thebe and replaced the South African rand as Botswana's national unit in 1976.
- The pula is managed through a crawling basket framework rather than a fixed one-to-one ZAR or USD parity.
Context
Why this currency matters
BWP marks Botswana's move from reliance on the South African rand to an independent national monetary system. Its basket arrangement reflects trade exposure to several partners, while the pula's role in mineral revenue and regional commerce gives it significance beyond the size of Botswana's population.
Monetary framework
Exchange arrangement
The Bank of Botswana issues pula banknotes and coins and manages monetary policy, reserves and the exchange-rate framework.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for BWP
Bank of Botswana established
Botswana created its central bank to prepare and administer an independent monetary system.
Bank of Botswana - historyPula introduced
BWP replaced the South African rand as Botswana's national currency.
Bank of Botswana - historyModern banknote family developed
Botswana updated note designs and security features for the national cash system.
Bank of Botswana - history
Usage and economy
How BWP is used
- Prices, payroll, taxes and settlement throughout Botswana.
- Southern African comparisons involving ZAR, NAD, ZMW and SZL.
Country currency guides
Banknotes and coins
BWP currency units
The Bank of Botswana publishes current pula banknote denominations and security information.
The Bank of Botswana documents pula and thebe circulation coins.
One Botswana Pula unit is recorded with 2 decimal places and uses Thebe as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
BWP questions
What currency did the pula replace?
BWP replaced the South African rand as Botswana's national currency in 1976.
Is BWP fixed one-to-one with ZAR?
No. Botswana manages the pula against a basket under a crawling framework rather than a one-to-one rand parity.
Why is BWP important in southern Africa?
BWP supports Botswana's mineral economy, public finances and regional trade with South Africa and neighboring markets.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.