SZL (Swaziland Lilangeni)

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.

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