Currency

The CBL, established as the Lesotho Monetary Authority in 1978, has evolved to its current form, overseeing critical functions related to currency and financial stability.

Currency Function Overview:
Issuing Currency:

Core function is to safeguard the integrity and security of the national currency, maloti. This is archived through the clean bank note policy, which ensure adherence to circulation standard and, in that context, it includes the following’s.

• Issuing Currency: To issue Maloti and Rand to commercial banks to satisfy public demand for currency;
• Quality Control: To ensure maintenance of clean quality notes that are also durable.
• Security Measures: To guard against counterfeit notes by incorporating robust security features into currency design.
  Supply management: To manage the national currency supply to ensure there is enough cash available to meet demand at all times.
• Redemption: To redeem currency that is mutilated or has been taken out of circulation
• Accounting: To maintain proper and adequate records of stock of currency and to ensure that withdrawals and deposits are accounted for and properly recorded in currency registers;
• Cross-Border Operations: To repatriate Rand to South Africa and collect Maloti from South Africa; and
• Safekeeping: To ensure safe custody of currency.