Do you know the largest monetary unit in the world? Let me answer it for you below.
The largest monetary unit in the world:
The Pula is the currency of Botswana (Pula means "rain and dew" and is also the country's national motto). Currency number BWP. The currency unit is cents. 1 pula = 100 points. It is the largest monetary unit in the world.
Introduction to the world’s largest currency
Botswana, also translated as Botswana, is officially known as the Republic of Botswana (English: Republic of Botswana, Botswana Lefatshe la Botswana (English: Lefatshe la Botswana) is a landlocked country located in southern Africa. The entire country is a dry platform terrain. It borders South Africa to the south, Namibia to the west, and Zimbabwe to the northeast. The northern end of its land only touches Zambia a little near Victoria Falls. At present, diseases seriously threaten the country's social and economic security. The Botswana Pula is the currency of the Republic of Botswana (Pula means "rain and dew" and is also the country's national motto). Currency number BWP. The currency unit is cents. 1 pula = 100 points. Because the Kalahari Desert occupies almost all of Botswana, rainwater is very scarce in the country. Pula also means "blessing" as the rain is a blessing to these desert people. The Central Bank introduced the Pula in 1976, replacing the South African rand at parity. Despite a devaluation in 2005-12, the Pula remains Africa's strongest currency.
The world’s largest currency issuer
Bank of Botswana
The development of the world’s largest currency
Botswana The Pula is the national currency of Botswana. The Bank of Botswana is the central bank of Botswana. It was established on July 1, 1975. After its establishment, in August 1976, Botswana’s national currency Pula and its subsidiary currency Taipei were issued to replace the South African rand. Thus, Bo is separated from the South African currency rand zone. There are also five branches of foreign commercial banks in Botswana: Barclays Bank, First National Bank, Standard Chartered Bank, United Bank and Bank of Zimbabwe. The Bank of Botswana will issue a new version of banknotes starting from August 2009. The new banknotes will be designed and printed using the latest technology and use the latest anti-counterfeiting technology. Based on the previous denominations of 10 yuan, 20 yuan, 50 yuan and 100 yuan, the new version of banknotes has an additional denomination of 200 yuan. After new banknotes are issued, old banknotes in circulation will be gradually recycled. The public needs to take the old currency to designated locations such as commercial banks, Botswana Savings Bank, Botswana Building Society and other outlets across the country to exchange for new banknotes of equivalent value within three months. After 3 months, it can only be exchanged at the Bank of Botswana halls in Gaborone and Francistown. The exchange deadline is December 31, 2014. After that, the old banknotes will lose their legal tender function and be withdrawn from circulation.
Factors affecting the world’s largest currency
Fiscal and Finance From 1966 to 1971 after independence, the Botswana government’s fiscal revenue and expenditure could not make ends meet and relied on British subsidies. Only from 1971/72 did Bo begin to achieve self-sufficiency in financial expenditure. Since then, there has been a surplus every year. The fiscal year is from April of each year to March of the following year. According to statistics from the African Development Bank, fiscal revenue in 1997 was US$2.4 billion and expenditures were US$2 billion. The surplus reached $400 million. According to statistics from the African Development Bank, Botswana's total external debt in 1997 was US$760 million, accounting for 14.6% of its GDP, making it the country with the smallest debt burden among African countries. From 1991 to 1997, the average annual growth rate of foreign debt principal and interest payments was 0.6. In 1998, foreign exchange reserves were US$6.026 billion. The Bank of Botswana is the central bank of Botswana. It was established on July 1, 1975. After its establishment, it issued Botswana's national currency "Pula" and its subsidiary currency "Teb" in August 1976, thus making Botswana separate from the South African currency Rand zone. Foreign Trade Botswana mainly exports diamonds, copper and nickel ingots, beef, soda ash and textiles.
The main export targets are the European Union, South Africa and the Southern African Customs Union countries. Imported food, beverages, automobiles, transportation equipment, machinery, electrical appliances, metals, and petroleum products. The main import trade objects are South Africa and Zimbabwe. In 1997, the total export value was US$2.204 billion and the total import value was US$1.482 billion. The export value of diamonds accounts for 80% of the total export value, and copper, nickel ingots and beef account for 4.7% respectively. Bo is a member of the Five-Country Customs Union of Southern Africa. It can obtain a share of the total tariff revenue of the alliance equivalent to 20% of its export value every year. In 1991/1992, Bo received revenue of 480 million pula from this aspect. Bo is also a member of the Southern African Development Community, and goods can flow freely between member countries. Botswana is a signatory to the Lomé Agreement. According to the agreement, Botswana's products enter the 12 countries of the European Community and are not subject to tariff quota restrictions, except for certain products listed in the European Community's agricultural policy. . Foreign aid The main countries providing aid to Botswana are: the United States, the United Kingdom, Germany, Japan, Norway, Canada and Sweden. There are also international organizations and financial institutions such as the United Nations Development Program, the European Community, the World Bank and the World Food Program. In 1991, Bo received US$115.2 million in foreign aid. According to statistics from the African Development Bank, Botswana received a total of US$439 million in various development assistance from 1985 to 1997. ?Foreign capital The total foreign investment in Botswana is about US$1 billion, most of which is South African capital, and the others are mainly from the United Kingdom, the United States, Germany and Norway. Investments are concentrated in the mining industry, with other major sectors being construction, machinery, transportation equipment, commerce, etc. In order to attract foreign investment, an economic development zone was established in Selebi Pikwe in the southeast in 1988, giving preferential treatment to foreign investors. From March 1988 to June 1991, 47 foreign-invested industrial projects have been designated in the development zone, of which 8 projects have been put into operation during the same period. From 1990 to 1991, there were 144 foreign direct investment enterprises in Botswana. People's Livelihood The Botswana government allocates more than 100 million pula each year to build roads, urban and rural water supply facilities, and develop education and health services to improve the living conditions of urban and rural people. Implement universal free medical care for residents. There are 15 hospitals with 1,790 beds; 170 clinics and 308 health stations. According to statistics from the African Development Bank, Botswana's birth rate in 1997 was 34.2%, the mortality rate was 12.6%, and the mortality rate for children under 5 years old was 54%. Life expectancy is 51 years. The fertility rate is 4.3 births per woman. The number of people with access to safe drinking water accounted for 70% of the total population in 1995. There is a huge disparity between the rich and the poor between urban and rural residents, and there is a huge gap in living standards.