Botswana Pula (BWP) plays a key role in its economy, symbolizing not just financial value but the nation’s reliance on essential elements like rain for growth and prosperity. 

Over the years, it has become a stable and trusted currency in Southern Africa, used by people every day for everything from small transactions to major purchases. 

Its strength is a reflection of Botswana’s economic resilience and careful management. Read on to find out more about Pula. 

What is Botswana Pula (BWP)

The Botswana Pula (BWP) is the official currency of Botswana, a country located in Southern Africa. The word “Pula” means rain in the local language, Setswana, symbolizing the importance of rain in Botswana’s dry climate. 

Because people consider rain a blessing, the currency’s name reflects the value they place on prosperity and good fortune.

The Pula is represented by the symbol P and has the currency code BWP. It is subdivided into thebe, with 100 thebe making up one Pula, similar to how cents are a part of dollars. 

Botswana people widely use the Pula for everyday transactions, and its strength reflects the country’s relatively stable and growing economy, which diamond mining largely supports.

In terms of physical money, the Botswana Pula comes in the form of both coins and banknotes, with various denominations used for small and large purchases. 

Coins range from 5 thebe to P5, while banknotes come in values from P10 to P200. Africa recognizes the currency for its strength and stability.

History of Botswana Pula (BWP)

The Botswana Pula was first introduced on August 23, 1976. Before this, Botswana was using the South African Rand (ZAR) as its currency, even though Botswana had gained independence from Britain in 1966. 

The Pula’s introduction marked a key moment for Botswana, showing its shift towards economic independence from South Africa, which was still under apartheid.

Every year, people celebrate “Pula Day” on August 23, the date of the currency’s launch.

The Botswana Pula became one of the strongest and most stable currencies in Africa. Botswana’s economy, largely driven by diamond mining, has been managed prudently, and the Pula has reflected the country’s sound economic policies. 

Botswana’s government was careful to avoid excessive borrowing, which helped to keep the Pula strong compared to other African currencies.

Over time, the Pula has undergone several changes to keep up with modern standards. The Bank of Botswana has introduced new security features and designs for both banknotes and coins to prevent counterfeiting and ensure the currency’s durability.

Banknotes have been redesigned with updated imagery, including notable historical figures from Botswana, and modern printing techniques have been used to make the notes more secure. The Mint has re-minted coins with new designs to ensure they last longer and are easily distinguishable.

Why the Name “Pula”?

The word “Pula” in Setswana, the national language of Botswana, means “rain”. In Botswana, people highly value rain because the country has a semi-arid climate, and water remains scarce.

As rain is so important and seen as a blessing, naming the currency “Pula” reflects the value and significance the country places on its currency. 

It also symbolizes good fortune and prosperity. The subunit of the Pula is called thebe, meaning “shield”.

• 1 Pula = 100 thebe

• Symbol: P
• Currency Code: BWP

Just like how we use the dollar sign ($) for US Dollars, the Pula uses P as its symbol. So if something costs 50 Pula, it will be written as P50.

Coins of the Botswana Pula

Botswana Pula coins are small and used for everyday purchases like snacks and transportation.

The coins are available in the following amounts, 5 thebe (thebe are like cents in Pula), 10, 25, 50, P1 (1 Pula), P2 (2 Pula), P5 (5 Pula).

The coins are usually made from metals like nickel or bronze and feature important symbols and animals of Botswana, like cows and zebras.

Banknotes of the Botswana Pula

Botswana’s paper money comes in different colors and sizes, each representing a higher value. 

• P10: This is a blue note with images representing the country’s heritage and wildlife.
• P20: The green note features important national symbols of Botswana.
• P50: This note is red and highlights the rich culture of Botswana.
• P100: People use the purple note for larger transactions, and it features images that represent the country’s history.
• P200: The orange P200 note represents the largest denomination and people typically use it for big purchases like electronics or furniture.

Pula Exchange Rate Policy

Botswana follows a crawling peg system for the Pula, where the currency is pegged to a basket of currencies that include the South African Rand and the Special Drawing Rights (SDR), a type of international monetary resource in the International Monetary Fund (IMF). 

This system helps Botswana manage the Pula’s exchange rate, keeping it competitive in global markets, especially in trade with South Africa and nearby countries.

Exchange Rate with Other Currencies

Like other currencies, the value of the Pula compared to other currencies, like the US Dollar (USD) or the Euro (EUR), changes regularly. As of now, P10 is worth around 0.75 USD, but this can fluctuate based on the economy and market factors.

How much is 1 Botswana Pula (BWP) to naira?

1 Botswana Pula (BWP) = 120.58 Nigerian Naira (NGN)​ Exchange rates can fluctuate, so it’s a good idea to check regularly if you’re planning any transactions. 

Conclusion

Botswana’s currency is more than just a medium of exchange; it represents the country’s stability and promise for the future. 

This currency helps support the growth and well-being of the people through Botswana’s strong industries and good financial policies.

It stands as a symbol of both the nation’s heritage and its aspirations.