DEFINITION of 'SZL (Swaziland Lilangeni)'

The currency abbreviation for the Swaziland lilangeni (SZL), the currency for Swaziland. The Swaziland lilangeni is made up of 100 cents and is often presented with the symbol L or E for emalangeni (plural) in the form L1, E5, E7, etc.

BREAKING DOWN 'SZL (Swaziland Lilangeni)'

The Swaziland lilangeni replaced the South African rand at par in 1974, and has remained at par since. Being at par allows Swaziland to be a member of the Southern African Customs Union (SACU), where import taxes are uniformly applied, and the Common Monetary Area (CMA), in which unrestricted funds movement is permitted.

RELATED TERMS
  1. ZAR (South African Rand)

    The currency abbreviation for the South African rand (ZAR), the ...
  2. Par

    Short for "par value," par can refer to bonds, preferred stock, ...
  3. Full Stock

    A stock with a par value of $100 per share. A full stock issue ...
  4. Par Value

    The face value of a bond. Par value for a share refers to the ...
  5. Half Stock

    Stock sold with a par value half of what is considered standard. ...
  6. Provident Fund

    A compulsory, government-managed retirement savings scheme used ...
Related Articles
  1. Investing

    Why Would A Stock Have No Par Value?

    A stock with no par value might trade for thousands of dollars. It just depends on what the market deems it’s worth.
  2. Investing

    What is Par Value?

    Par value is a term used for investments that means original value. It’s also called face value or nominal value.
  3. Investing

    Paid-Up Capital

    Paid-Up Capital is listed in the equity section of the balance sheet. It represents the amount of money shareholders have paid into the company by purchasing shares. It’s essentially two accounts, ...
  4. Trading

    The New World Of Emerging Market Currencies

    Take advantage of foreign currency markets without stepping out of your house.
  5. Investing

    Are Bonds Selling At A Premium A Good Investment?

    A bond with a par value – or face value -- of $1,000 is selling at a premium when its price exceeds par.
  6. Investing

    Explaining Original Issue Discount

    An original issue discount is the amount below par at which a bond or other debt instrument is issued.
  7. Investing

    African Sovereign Debt: Risks and Rewards

    African sovereign debt offers high yields and upside — if one has the stomach for the risk.
  8. Investing

    The 3 Reasons Why Chinese Invest in Africa

    Learn about the increasing level of foreign direct investment by China in Africa, and understand the major reasons for China's African investments.
  9. Investing

    African Equities vs. Bonds: Risks and Rewards

    A look at the risks and rewards of exposure to African equities vs. bonds.
RELATED FAQS
  1. What is the difference between par and no par value stock?

    Understand the difference between par and no par value stock and how this differentiation affects corporate liabilities and ... Read Answer >>
  2. Why would a stock have no par value?

    People often get confused when they read about the "par value" for a stock. One reason for this is that the term has slightly ... Read Answer >>
  3. Are corporations required to state the par value of their stock?

    Find out when companies are required to state the par value of stock and why it is beneficial to businesses and shareholders ... Read Answer >>
  4. What does tier 1 capital tell investors about a bank's operations?

    Learn about which financial instruments have par values and what this means about the market price of the most common of ... Read Answer >>
  5. What is the difference between par value and market value?

    Learn about the difference between the par value and market value of financial securities, including the role they play in ... Read Answer >>
Hot Definitions
  1. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  2. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  3. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  4. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  5. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  6. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
Trading Center