Swaziland, officially known as the Kingdom of Eswatini, is a small landlocked country located in Southern Africa. Over the years, Eswatini has attracted attention for its rich culture, stunning landscapes, and historical significance. If you are planning to visit or conduct business in Eswatini, understanding the local currency is crucial. This topic will explain the currency used in Eswatini, how it relates to other currencies, and key things you should know about it.
The Currency of Swaziland (Eswatini)
The official currency of Eswatini is the Swazi lilangeni, abbreviated as SZL. The lilangeni (plural: emalangeni) is the legal tender used for everyday transactions within the country. The lilangeni has been in use since 1974, replacing the South African rand at a rate of 1:1. While the lilangeni is the official currency, the South African rand (ZAR) is also widely accepted, especially in border areas and larger cities.
Currency Denominations
The lilangeni is divided into 100 cents, much like the US dollar or the euro. The currency is available in both coins and banknotes, each with distinct denominations. Here’s a breakdown:
Coins
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1 cent
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2 cents
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5 cents
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10 cents
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20 cents
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50 cents
Banknotes
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10 emalangeni
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20 emalangeni
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50 emalangeni
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100 emalangeni
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200 emalangeni
These coins and banknotes are commonly used in everyday transactions within the country. Coins are generally used for small purchases, such as food items or transport fares, while banknotes are used for larger transactions.
Swazi Lilangeni vs South African Rand
While the Swazi lilangeni is the official currency of Eswatini, the South African rand is also accepted at par with the lilangeni. This means that 1 rand is worth 1 lilangeni. This dual-currency system is particularly useful for people who live near the South African border or for tourists traveling from South Africa.
In practice, however, most businesses and individuals in Eswatini will price goods and services in lilangeni. But if you are coming from South Africa, you can often use the rand in place of the lilangeni without the need for currency exchange. Similarly, visitors from countries using other major currencies will often find that the rand is a convenient alternative for smaller transactions.
Exchange Rates and Currency Conversion
The exchange rate between the lilangeni and other currencies like the US dollar or the euro can fluctuate based on the global market and the strength of the South African rand. The lilangeni is pegged to the South African rand, so when the rand appreciates or depreciates, the value of the lilangeni tends to follow suit.
When traveling to Eswatini, it is a good idea to exchange foreign currency at a reliable exchange service or use ATMs that offer local currency withdrawal. Currency exchange services are commonly available at airports, banks, and larger hotels in Eswatini. Many places also accept international credit and debit cards, so it is wise to carry both local cash and card payment options.
Using Currency in Eswatini
The Swazi lilangeni is used for all types of transactions, from buying groceries to paying for hotel stays. However, there are some important things to keep in mind:
1. Local Currency for Small Purchases
For most daily purchases, it is best to use the lilangeni. This applies to markets, small shops, and street vendors, where you may not be able to pay with rand or international cards. The coins and small bills (10 and 20 emalangeni) are used most frequently for such purchases.
2. The South African Rand’s Influence
Given that Eswatini shares a border with South Africa, many residents and businesses in Eswatini also use the South African rand. This currency is commonly accepted for larger transactions in major cities, particularly in the commercial centers and tourist hotspots. While you will generally receive change in lilangeni, the rand remains a convenient alternative for cross-border transactions.
3. International Visitors and Exchange Rates
For international visitors, especially those from outside Southern Africa, it is important to check the current exchange rates before traveling. Major international currencies such as the US dollar, British pound, and euro are not directly accepted in Eswatini, but they can be exchanged for lilangeni or rand at local exchange services.
Most exchange services will offer competitive rates, but you should always shop around for the best value. It’s also a good idea to carry some US dollars or euros when traveling to Eswatini, as these currencies are easier to exchange than others.
Where to Exchange Currency
You will find several places to exchange currency in Eswatini, including:
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Banks: Commercial banks in Eswatini, such as First National Bank (FNB) and Standard Bank, offer currency exchange services. Many also have ATMs that dispense lilangeni.
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Airports: If you’re arriving by air, the international airport in Manzini and other smaller airports in Eswatini often have currency exchange booths. Rates at the airport might be less favorable, so it’s best to use them only for small amounts.
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Hotels and Tourism Centers: Larger hotels and tourism centers in Eswatini may offer currency exchange services. However, these services tend to offer less favorable exchange rates than banks.
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ATMs: Eswatini has a number of ATMs where you can withdraw local currency (lilangeni) directly from your foreign bank account or international credit card. However, keep in mind that fees may apply for international withdrawals.
What to Know About Traveling to Eswatini
If you plan to visit Eswatini or do business in the country, it’s helpful to be aware of some additional financial tips:
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Credit and Debit Cards: Credit cards and debit cards are widely accepted in larger hotels, restaurants, and retail outlets. Visa and MasterCard are the most commonly accepted types. However, smaller businesses and remote areas may only accept cash.
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Tipping Culture: Tipping is common in Eswatini, particularly in restaurants, hotels, and taxis. The typical tip is around 10-15% of the bill.
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Currency Restrictions: There are no major restrictions on the amount of local currency you can bring into or take out of Eswatini, but it’s always best to check the latest regulations regarding currency exchange and transfers.
Eswatini, or Swaziland, uses the Swazi lilangeni (SZL) as its official currency, which is pegged to the South African rand (ZAR). While the lilangeni is the primary currency, the rand is also widely accepted. The use of dual currency allows for easier trade and travel, especially for those who live or work near the South African border.
When visiting Eswatini, it is essential to understand the local currency, exchange rates, and how to manage your finances effectively. Carrying both lilangeni and rand can help ensure you have the flexibility to navigate financial transactions with ease. Be sure to exchange your foreign currency at reputable locations and keep track of the current exchange rates to get the best value for your money.