23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
02/05/2016: Introduction of the new Lesotho loti coins
New coins with updated designs and improved durability were introduced to replace the older ones and ensure efficient circulation of the Lesotho loti currency.
16/10/2012: Issuance of commemorative banknotes
Commemorative banknotes were issued on the occasion of Lesotho's 46th Independence Day, celebrating the country's cultural heritage and achievements.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
02/06/2008: Establishment of the Lesotho Electronic Funds Transfer System
The Lesotho Electronic Funds Transfer System (LETS) was established, enabling secure and efficient electronic transactions, including online banking and interbank transfers.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
21/02/2000: Launch of the Lesotho national payment system
The Lesotho national payment system was launched, facilitating seamless electronic funds transfer and promoting financial inclusivity in the country.
25/09/1998: Introduction of the new Lesotho loti banknotes
New banknotes featuring enhanced security features and updated designs were introduced to combat counterfeiting and improve the integrity of the currency.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
20/01/1986: Adoption of the Central Bank of Lesotho Act
The Central Bank of Lesotho Act was adopted, providing the legal framework for the regulation and control of the Lesotho loti and monetary policy.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
01/10/1980: Introduction of the Lesotho loti
The Lesotho loti was introduced as the official currency of Lesotho to replace the South African rand and establish monetary independence.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.