Bank of Namibia

Establishment of the Bank of Namibia

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The Bank of Namibia (BoN) was established in accordance with a provision in the Constitution of the Republic of Namibia, Chapter 17, Article 128.


The Articles states:

  • There shall be established by Act of Parliament a Central Bank of the Republic of Namibia, which shall serve as the State’s principal instrument to control the money supply, the currency and the institutions of finance, and to perform all other functions ordinarily performed by a central bank.

  • The Governing Board of the Central Bank shall consist of a Governor, a Deputy-Governor and such other members of the Board as shall be prescribed by Act of Parliament, and all members of the Board shall be appointed by the President in accordance with procedures prescribed by such Act of Parliament.

In 1998, the Banking Institutions Act no. 2 of 1998 was passed by the Parliament. This Act gives powers to the Bank and spelled out some regulatory mandate over commercial banks in Namibia.

Today’s rates
Inflation rates
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NCPI

CONSUMER PRICES Total (All urban areas) 12-Term % change

NCPI 5.20 Nov 2017
Interest rates
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Repo rate

Repurchase rate: Rate at which the private (sector) banks borrow namibian dollars from the Bank of Namibia

Prime overdraft rate (predominant rate)

Benchmark rate at which private banks lend out to the public.

Repo 6.75
Prime 10.50
Exchange rates
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NAD per US Dollar

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per British Pound

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Euro

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

NAD per Angolan Kwanza

Weighted average of the banks' daily rates at approximately 10:30 am. Weights are based on the banks' foreign exchange transactions.

N$ / $ 13.4674 14 Dec 2017
N$ / £ 18.0876 14 Dec 2017
N$ / € 15.9302 14 Dec 2017
N$ / AOA 0.0717 14 Dec 2017

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