BWP (Botswana Pula)
 |
Definition of 'BWP (Botswana Pula)'The currency abbreviation for the Botswana pula (BWP), the currency for Botswana. The Botswana pula is made up of 100 thebe and is often presented with the symbol P. The BWP is pegged to a basket of currencies, which operates using a crawling band exchange rate using the International Monetary Fund's special drawing rights (SDR) and the South African rand as reserve assets. The Botswana pula is issued by the bank of Botswana. |
 |
Investopedia explains 'BWP (Botswana Pula)'The Botswana pula was first seen in 1976 when it replaced the South African rand. The Botswana pula is fully convertible due to the abolishment of foreign exchange controls in 1999. Before the rand, many currencies were used and replaced, including the British pound sterling, which was used until 1920, and the South African pound, which was used until 1961, when it was replaced by the South African rand. On August 23, 1976, the pula was introduced at an exchange rate of one for one with the rand. Pula means "rain" or "blessing" because rain is so scarce in Botswana and is therefore considered valuable. |
Related Definitions
Articles Of Interest
-
Currency Exchange: Floating Rate Vs. Fixed Rate
Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers. -
Commodity Prices And Currency Movements
Find out which currencies are most affected by fluctuations in gold and oil prices, and improve your trading. -
How are international exchange rates set?
International currency exchange rates display how much one unit of a currency can be exchanged for another currency. Currency exchange rates can be floating, in which case they change continually ... -
8 Basic Forex Market Concepts
We go over some of the things you need to understand before you can trade currencies. -
Forex: Identifying Trending And Range-Bound Currencies
Gain a trading edge by learning how macroeconomic forces play out differently for various pairs in the forex market. -
A Primer On The Forex Market
Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers. -
The New World Of Emerging Market Currencies
Take advantage of foreign currency markets without stepping out of your house. -
How Bitcoin Works
Bitcoin is a digital currency that exists almost wholly in the virtual realm, unlike physical currencies like dollars and euros. A growing number of proponents support its use as an alternative ... -
How To Survive When Prices Double Every Day And A Half
Hyperinflation can destroy your life savings in a matter of months or less. We’ve seen again and again throughout history…Germany in the 1920s, Hungary in the 1940s, Yugoslavia in the 1990s and ... -
The Yen Is Setting Up To Be An Attractive Long-Term Investment
As Japan embarks on quantitative easing, the yen has come under pressure. Will it continue to be the source of big profits in the latter half of 2013?
Free Annual Reports